Delta Asset Management LLC has reduced its stake in Microsoft Corporation (NASDAQ: MSFT) by 1.5% during the second quarter of the fiscal year, according to its latest 13F filing with the Securities and Exchange Commission. Following the sale of 6,685 shares, Delta Asset Management now holds 427,102 shares of the software giant, which constitutes approximately 18.5% of its total portfolio, making Microsoft its largest investment. As of the end of the second quarter, the value of Delta’s holdings in Microsoft stood at an impressive $212,445,000.
Several other institutional investors have also made notable adjustments to their positions in Microsoft. Kingstone Capital Partners Texas LLC dramatically increased its stake by 564,387.1%, acquiring an additional 90,533,328 shares during the same quarter. Its total ownership now amounts to 90,549,369 shares, valued at around $45,040,162,000. Furthermore, Nuveen LLC entered the fray by purchasing a new position worth $18,733,827,000 in the first quarter. Northern Trust Corp and Vanguard Group Inc. also raised their holdings, with Northern Trust acquiring an additional 11,600,470 shares, bringing its total to 83,787,746 shares valued at $35,316,535,000. Vanguard increased its stake by 1.1%, now owning 691,386,214 shares valued at $259,539,471,000.
As it stands, 71.13% of Microsoft’s stock is held by hedge funds and other institutional investors.
Microsoft Stock Performance and Dividend Announcement
On Friday, Microsoft shares opened at $483.16. Over the past year, the stock has seen a low of $344.79 and a high of $555.45. The company’s market capitalization is currently $3.59 trillion, with a price-to-earnings (PE) ratio of 34.36 and a price-to-earnings-growth (PEG) ratio of 1.81. Investors will also be pleased to know that Microsoft has announced a quarterly dividend of $0.91, scheduled for payment on March 12, 2024, to stockholders of record as of February 19, 2024. This reflects an annualized dividend yield of 0.8%, with a payout ratio currently at 25.89%.
Insider Transactions and Analyst Ratings
In other news from Microsoft, executive vice president Takeshi Numoto sold 2,850 shares on December 4, 2023, at an average price of $478.72, totaling $1,364,352. Post-sale, he retains 55,782 shares valued at approximately $26,703,959.04. Similarly, CEO Judson Althoff sold 12,750 shares on December 2, 2023, for $6,266,880, reducing his stock ownership by 8.97%.
Analysts have varied opinions on Microsoft, with Barclays maintaining an “overweight” rating and setting a target price of $625.00. Mizuho recently downgraded Microsoft from a “strong buy” to “hold.” In contrast, Wells Fargo & Company raised its price objective from $675.00 to $700.00, endorsing the stock with an “overweight” rating. Overall, according to data from MarketBeat.com, Microsoft has a consensus rating of “Moderate Buy,” with an average target price of $632.34.
Microsoft Corporation continues to be a key player in the global technology landscape, providing software, services, and solutions worldwide. The company’s diverse offerings include productivity tools, cloud services, and consumer subscriptions, positioning it well for continued growth and investor interest.
