Financial Insights Inc. Trims Stake in Microsoft Amid Strong Earnings Results
Financial Insights Inc., a hedge fund, has trimmed its stake in Microsoft Corporation (NASDAQ:MSFT) by selling 2,485 shares during the first quarter. This reduced their holdings by 5.2%, bringing the total number of shares owned to 45,626. The value of these shares is approximately $16.89 million.
Microsoft accounts for 5.5% of Financial Insights Inc.'s investment portfolio, making it the fund's fourth largest holding. Other hedge funds have also adjusted their positions in Microsoft over the past quarter, with Longfellow Investment Management Co. LLC increasing its stake by 51.3%, and Fairway Wealth LLC growing its position by 287%. Institutional investors own a significant portion of Microsoft's stock, with 71.13% held by institutions.
In other news, Microsoft has reported strong earnings results for the second quarter, beating expectations with revenue of $90.01 billion and earnings per share (EPS) of $4.74. The company also announced a quarterly dividend of $0.91 per share, which will be paid on September 10th to shareholders recorded as of August 20th.
Analysts remain bullish on Microsoft's prospects, with a consensus target price of $560.27 and an average rating of 'Moderate Buy'. Goldman Sachs Group has set a price objective of $640.00, while Wells Fargo & Company raised its target to $700.00. Despite concerns about the company's AI infrastructure spending plan, which could pressure free cash flow and cloud margins, Microsoft's shares have shown resilience.