Fri Dec 06 19:53:05 UTC 2024: **Chicago Trust Co. Increases Microsoft Stake; Insider Selling and Analyst Adjustments Follow**
**Chicago, IL – November 14, 2024** – CHICAGO TRUST Co. NA significantly increased its holdings in Microsoft Corp. (NASDAQ:MSFT) during the third quarter, acquiring an additional 4,503 shares, representing a 6.6% boost to its overall position. This brings their total ownership to 72,705 shares, valued at $31.29 million, making Microsoft their second-largest holding, accounting for 5.4% of their portfolio.
This investment follows similar moves by other institutional investors. Several firms, including Rebalance LLC, First National Bank Sioux Falls, Doheny Asset Management CA, Flagship Private Wealth LLC, and Massachusetts Wealth Management, also increased their Microsoft holdings during recent quarters, albeit in smaller amounts. Institutional investors currently own 71.13% of Microsoft’s stock.
However, this positive sentiment is tempered by recent insider selling. Microsoft CEO Satya Nadella sold 78,353 shares, and Bradford L. Smith, another insider, sold 40,000 shares. These sales represent an 8.31% and 6.84% reduction in their respective holdings, respectively. In total, insiders sold 209,431 shares worth $85.7 million over the last quarter.
Adding to the mixed signals, analysts have been adjusting their price targets and ratings on Microsoft stock. While several firms maintained buy ratings, others lowered their price targets or downgraded the stock to neutral, leading to a current average rating of “Moderate Buy” with an average price target of $503.03, according to MarketBeat.com.
Despite the analyst revisions and insider selling, Microsoft’s stock price closed at $423.46 on Friday, up $0.47 for the day. The company recently reported strong earnings, exceeding expectations with $3.30 EPS, and announced a $60 billion stock buyback program and a dividend increase to $0.83 per share. Microsoft’s market capitalization stands at $3.15 trillion.
First Piper 