Saudi Central Bank Doubles Down on IBM Stake
The Saudi Central Bank has significantly increased its holdings in International Business Machines Corporation (IBM) by 90.3% in the second quarter, according to a recent SEC filing.
The bank now owns 65,662 shares of IBM's stock, valued at $18,465,000 as of its most recent filing with the Securities and Exchange Commission.
This increase is part of a broader trend of institutional investors increasing their stakes in IBM. Other notable investors include Orca Wealth Management LLC, which grew its stake by 3.7% during the fourth quarter, and Friday Financial, which lifted its stake by 1.9% in the second quarter.
The value of IBM's stock has been affected by various market and economic factors, including a settlement of discrimination-related claims tied to Trump-era diversity, equity, and inclusion policies, although the article provides limited detail on IBM's payment or potential financial exposure.