Trillium Acquires New Stake in IBM Amid Strong Earnings
Trillium Asset Management LLC has acquired a new stake in International Business Machines Corporation (NYSE:IBM), purchasing 2,388 shares valued at approximately $671,000 during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission.
The purchase brings Trillium's total holding of IBM stock to an undisclosed amount. Other large investors have also been actively buying up shares in the technology company, including VIRGINIA RETIREMENT SYSTEMS ET Al, which boosted its position by 424.6% during the fourth quarter and now owns 260,740 shares worth $77,234,000.
This increase in investor interest may be driven by IBM's strong quarterly earnings results, which met expectations at $2.93 per share for the second quarter. The company also reported revenue of $17.16 billion during this period, a 1.1% increase from the same time last year.