Delta Asset Management LLC has reduced its investment in Microsoft Corporation (NASDAQ: MSFT) by 1.5% during the second quarter of 2024, according to a recent filing with the Securities and Exchange Commission. The firm now holds 427,102 shares of Microsoft after selling 6,685 shares in the period. Microsoft remains the largest position in Delta’s portfolio, comprising approximately 18.5% of its total holdings, valued at around $212.4 million.
Other institutional investors have also adjusted their stakes in Microsoft. Notably, Kingstone Capital Partners Texas LLC significantly increased its holdings by 564,387.1%, acquiring an additional 90,533,328 shares to bring its total to 90,549,369 shares, now worth $45 billion. Additionally, Nuveen LLC entered a new investment in Microsoft valued at $18.7 billion in the first quarter, while Northern Trust Corp raised its position by 16.1% during the previous quarter.
Vanguard Group Inc. also lifted its stake in Microsoft by 1.1%, now owning 691.4 million shares valued at approximately $259.5 billion. Goldman Sachs Group Inc. increased its holdings by 14.1%, acquiring 6,101,005 additional shares. Currently, hedge funds and institutional investors collectively own 71.13% of Microsoft’s stock.
Current Stock Performance and Dividend Announcement
As of the latest trading session, Microsoft shares opened at $483.16. The stock has fluctuated between a fifty-two week low of $344.79 and a high of $555.45. Microsoft maintains a market capitalization of $3.59 trillion, with a price-to-earnings (P/E) ratio of 34.36 and a price-to-earnings-growth (PEG) ratio of 1.81. The company announced a quarterly dividend of $0.91, set to be paid on March 12, 2024, to shareholders recorded on February 19, 2024. This dividend reflects an annualized payment of $3.64 and a yield of 0.8%.
Insider Transactions and Analyst Ratings
In insider trading news, Microsoft’s Executive Vice President, Takeshi Numoto, sold 2,850 shares on December 4, 2023, at an average price of $478.72, totaling approximately $1.36 million. Following this transaction, Numoto retains 55,782 shares valued at around $26.7 million. CEO Judson Althoff also sold 12,750 shares on December 2, 2023, for about $6.27 million, resulting in an 8.97% reduction in his ownership.
Recent analysis from several financial institutions has provided varying perspectives on Microsoft’s stock. Barclays reaffirmed an “overweight” rating with a target price of $625.00, while Mizuho adjusted its rating from “strong-buy” to “hold.” Wells Fargo & Company raised its price target from $675.00 to $700.00, maintaining an “overweight” rating. The consensus among analysts indicates a “Moderate Buy” rating, with an average target price of $632.34 based on data from MarketBeat.com.
Microsoft Corporation continues to be a leader in software development and services worldwide, encompassing a broad range of products, including Microsoft 365 and Azure. As the company navigates the evolving tech landscape, investor interest remains strong, underscoring its significance in the market.
