In its latest Form 13F filing, Cullen Frost Bankers Inc. reported a 3.8% increase in its holdings of International Business Machines, acquiring an additional 3,227 shares. This move brought its total position to 88,856 shares, representing $25.07 million in market value at the end of the quarter. The incremental purchase underscores the firm’s confidence in IBM’s ongoing transformation toward software and hybrid cloud services.

A number of smaller asset managers also initiated or expanded positions during the quarter. Family CFO Inc. and Winnow Wealth LLC each opened new stakes of roughly $25,000 and $27,000 respectively, while Mountain Hill Investment Partners added a $28,000 position. Highline Wealth Partners grew its IBM holding by 85.0%, acquiring 51 additional shares for a total of 111 shares, and Copia Wealth Management boosted its stake by 57.6% with 49 extra shares, reaching 134 shares. Collectively, institutional investors now control 58.96% of IBM’s outstanding shares.

In its most recent quarterly report, IBM delivered adjusted earnings per share of $2.65, surpassing consensus estimates by $0.20, and reported revenue of $16.33 billion, up 9.1% year-over-year. The company maintains a net margin of 12.09% and return on equity of 37.76%. On the balance sheet, IBM shows a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89, reflecting steady liquidity amid ongoing investments in research and development.