Institutional investors buy and expand stakes in IBM for millions
Birmingham Capital Management acquired about 18,525 IBM shares worth roughly $5.21M, and Norges Bank bought a new IBM stake in the fourth quarter valued at about $2.45B. Capital World Investors increased its holdings by 29.2%, taking ownership of about 22,021,912 shares worth $6.52B after buying additional shares for $5.76M. IBM shares rose 3.5% amid reported institutional demand.