United Bank Acquires New Stake in International Business Machines
United Bank has acquired a new stake in International Business Machines Corporation (IBM), purchasing 2,713 shares of its stock worth approximately $763,000. This is according to United Bank's recent disclosure with the Securities & Exchange Commission.
The purchase was made during the second quarter, and it marks another instance of institutional investors increasing their stakes in IBM. Brighton Jones LLC raised its holdings by 12.4% in the fourth quarter, while Sivia Capital Partners LLC lifted its position by 10.6% during the same period.
IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development. The company has a market capitalization of $221.28 billion and a PE ratio of 20.84.