Delta Asset Management LLC has reduced its holdings in Microsoft Corporation (NASDAQ: MSFT) by 1.5% during the second quarter of 2024, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now owns 427,102 shares of the technology giant after selling 6,685 shares during this period. Microsoft continues to represent a significant portion of Delta’s portfolio, accounting for approximately 18.5% of its total holdings, valued at $212,445,000 as of the end of June.
Several other hedge funds have similarly adjusted their positions in Microsoft. Notably, Kingstone Capital Partners made a dramatic increase of 564,387.1% in its holdings during the second quarter, now owning 90,549,369 shares worth an impressive $45,040,162,000. Nuveen LLC also entered the fray, establishing a new position valued at $18,733,827,000 in the first quarter.
Additionally, Northern Trust Corp raised its stake by 16.1%, now holding 83,787,746 shares valued at $35,316,535,000. Meanwhile, Vanguard Group Inc. increased its holdings by 1.1%, bringing its total to 691,386,214 shares, valued at $259,539,471,000. Goldman Sachs Group Inc. also expanded its stake by 14.1%, with 49,338,953 shares now worth $18,521,349,000. Currently, hedge funds and institutional investors collectively own 71.13% of Microsoft’s stock.
Current Stock Performance and Dividends
Microsoft shares opened at $483.16 on Friday, reflecting a 0.5% increase. The stock has fluctuated significantly over the past year, with a 52-week low of $344.79 and a 52-week high of $555.45. The company’s market capitalization stands at $3.59 trillion, with a price-to-earnings (PE) ratio of 34.36.
In addition to its stock performance, Microsoft announced a quarterly dividend of $0.91 per share, set to be paid on March 12, 2024. Shareholders of record as of February 19, 2024 will receive this dividend, which translates to an annualized total of $3.64 and a dividend yield of 0.8%. The company’s payout ratio currently stands at 25.89%.
Insider Transactions and Analyst Ratings
Recent transactions also indicate activity among Microsoft insiders. Takeshi Numoto, Executive Vice President, sold 2,850 shares on December 4, 2023, at an average price of $478.72, totaling $1,364,352. After this sale, Numoto holds 55,782 shares valued at approximately $26,703,959.04. Similarly, CEO Judson Althoff sold 12,750 shares on December 2, 2023, for a total of $6,266,880, reducing his direct ownership to 129,349 shares worth about $63,577,620.48.
In terms of analyst ratings, several research firms have updated their assessments. Barclays has reiterated an “overweight” rating with a target price of $625.00 per share. Conversely, Mizuho has downgraded 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 overall consensus among analysts shows two ratings for “Strong Buy,” thirty-seven for “Buy,” and four for “Hold,” with an average target price of $632.34.
Microsoft’s diverse range of products and services continues to solidify its position as a leader in the technology sector, and with institutional investors actively reassessing their stakes, the company remains a focal point for market watchers.
