TRB Wealth Management Buys into IBM Shares
TRB Wealth Management LLC, a financial firm, has acquired a new position in International Business Machines Corporation (IBM) shares. According to the company's most recent 13F filing with the Securities and Exchange Commission, TRB purchased approximately 4,713 shares of IBM stock during the second quarter. These shares are valued at around $1,325,000.
This is not the only instance of a new position being acquired in IBM shares. Several other hedge funds have also made similar purchases, including Basepoint Wealth LLC, Portus Wealth Advisors LLC, and Hara Capital LLC.
As of now, 58.96% of IBM's stock is owned by institutional investors. The company has reported a revenue of $17.16 billion for the quarter, which is up 1.1% from the same period last year. Analysts forecast that IBM will post $12.33 earnings per share for the current fiscal year.