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State Pension Cuts IBM Stake Amid Mixed Investor Sentiment

Guavy AI Editorial Team
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IBM
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The State of Michigan Retirement System has reduced its stake in International Business Machines Corporation (IBM) by 1.4% during the second quarter, according to a recent disclosure with the SEC.

The institutional investor now owns 240,640 shares of IBM's stock after selling 3,500 shares during the quarter, valued at $67,670,000 as of its most recent SEC filing.

This is not an isolated incident, as other investors have also been buying and selling shares of IBM. Basepoint Wealth LLC bought a new position in IBM during the fourth quarter worth approximately $25,000, while Bare Financial Services Inc grew its position in IBM by 114.6% in the second quarter.

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