Swiss Life Sells IBM Shares, Reduces Stake
Swiss Life Asset Management Ltd has reduced its stake in International Business Machines Corporation (NYSE:IBM) by selling 39,838 shares during the second quarter. The firm now owns 416,972 shares of IBM's stock, valued at $117,257,000 as of its most recent filing with the Securities & Exchange Commission.
According to a 13F filing with the SEC, Swiss Life Asset Management Ltd's holding in IBM represents an 8.7% decrease from the previous quarter. The company is one of several institutional investors and hedge funds that have recently modified their holdings in IBM.
Other notable investors include Orca Wealth Management LLC, which increased its stake in IBM by 3.7% during the fourth quarter; Friday Financial, which boosted its stake in IBM by 1.9% during the second quarter; First Command Advisory Services Inc., which grew its position in IBM by 1.1% during the fourth quarter; and Washington Trust Bank, which increased its stake in IBM by 2.2% during the fourth quarter.