Westport Asset Management Invests $2.81 Million in IBM

Westport Asset Management Inc. has invested $2.81 million in International Business Machines Corporation (IBM). In its most recent Form 13F filing with the SEC, it was revealed that Westport bought a new position in IBM shares during the second quarter, purchasing 10,000 shares valued at approximately $2,812,000.

International Business Machines comprises about 1.1% of Westport Asset Management Inc.'s portfolio, making it the company's 29th biggest holding. This is not the only recent investment in IBM by institutional investors and hedge funds, as other firms have also added to or reduced their stakes in the company.

The technology company reported $2.93 EPS for its latest quarter, hitting analysts' consensus estimates of $2.93. With a market cap of $221.28 billion, International Business Machines has seen its stock open at $234.87 on Friday and is currently trading with a P/E ratio of 20.84.