Fri Dec 06 20:31:39 UTC 2024: **Hedge Fund Activity and Microsoft’s Q3 Earnings Drive Stock Movement**

**NEW YORK, NY (December 7, 2024)** – Microsoft (NASDAQ:MSFT) saw its stock price dip to $422.99 on Thursday amidst mixed signals from hedge fund activity and positive Q3 earnings. Sarasin & Partners LLP reduced its stake in Microsoft by 10.4%, selling 172,016 shares, although the software giant remains the firm’s second-largest holding at approximately 6% of its portfolio. Despite this, several other hedge funds increased their positions. Virginia Wealth Management Group Inc. boosted its holdings by 17.7%, Independence Bank of Kentucky by 34.4%, and Franklin Street Advisors Inc. NC by 0.4%. Furthermore, Trevian Wealth Management LLC initiated a new position, and Worth Asset Management LLC expanded its stake by 8%. Institutional investors currently own 71.13% of Microsoft’s stock.

Microsoft exceeded Q3 earnings expectations, reporting $3.30 EPS versus the anticipated $3.10, with revenue reaching $65.59 billion. The company also announced a $60 billion share repurchase plan and increased its quarterly dividend to $0.83 per share. However, recent insider trading saw EVP Judson Althoff and CMO Takeshi Numoto sell a significant number of shares.

Analyst ratings remain positive, with a “Moderate Buy” consensus rating and a $503.03 average price target. Despite this optimism, several firms like DA Davidson downgraded their rating on Microsoft stock. The stock’s performance reflects a complex interplay of positive earnings, adjustments in hedge fund portfolios, and insider selling.

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