Wealth Enhancement Advisory Services LLC Boosts Stake in International Business Machines Corporation

Wealth Enhancement Advisory Services LLC increased its stake in International Business Machines Corporation (NYSE:IBM) by 7.8% during the second quarter, according to a recent disclosure with the Securities & Exchange Commission.

The institutional investor owned about 0.07% of IBM's stock after buying an additional 48,063 shares during the quarter. This is not an isolated instance; other hedge funds and institutional investors have also modified their holdings in the business.

Vanguard Group Inc., for example, boosted its holdings in IBM by 1.5% during the fourth quarter. State Street Corp also grew its position in IBM by 1.0% in the same period. Geode Capital Management LLC raised its holdings in IBM by 1.5%, while Capital World Investors lifted its holdings by 29.2%.

These changes have contributed to a significant ownership stake by institutional investors and hedge funds, with 58.96% of the stock owned as of now.