State Street Corp Boosts IBM Stake to Over 5.9%

State Street Corp has increased its stake in International Business Machines Corporation (IBM) by buying an additional 1,450,562 shares during the second quarter. As a result of this purchase, State Street Corp now owns approximately 56,045,055 shares of IBM's stock, which is equivalent to about 5.95% of the company's total value of $15,760,430,000.

According to the most recent disclosure with the Securities and Exchange Commission (SEC), this increase in ownership represents a 2.7% growth for State Street Corp. This institutional investor is not alone in modifying its holdings of IBM; Assetmark Inc. raised its stake by 24.8% in the first quarter, while Rice Partnership LLC purchased a new position worth approximately $3,317,000 during the fourth quarter.

Other notable investors who have acquired new stakes in IBM include Sage Investment Advisers LLC and Flputnam Investment Management Co., which bought shares worth $4,101,000 and $15,237,000 respectively. United Super Pty Ltd, as Trustee for the Construction & Building Unions Superannuation Fund, also purchased a new position valued at $10,039,000.