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Minneapolis fund trims IBM stake as IBM unveils Arm-based processor

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Sig1.52Sen+0.43Env0.00Soc0.00Gov-0.69

Minneapolis Portfolio Management Group LLC cut its IBM stake by 2% to 139,302 shares, selling 2,802 shares worth about $39.17M. Basepoint Wealth and Cornerstone Financial Management also bought new small stakes. IBM introduced a dual-architecture processor for future IBM Z and LinuxONE that runs Arm-native instructions alongside traditional mainframe workloads. Morgan Stanley lowered its IBM target to $190.

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