Microsoft Stock Soars as Institutional Investors Pile In
Infrastructure Capital Advisors LLC has significantly increased its holdings in Microsoft Corporation (NASDAQ:MSFT) by 356.9% during the first quarter, according to a recent disclosure with the Securities and Exchange Commission.
The fund now owns 5,720 shares of MSFT's stock after purchasing an additional 4,468 shares during the quarter, valued at $2,117,000.
This is not an isolated instance, as several other large investors have also added to or reduced their stakes in MSFT. Markel Group Inc., for example, increased its holdings by 0.4% and now owns 537,630 shares worth $199,014,000.
The sharp increase in institutional ownership has led some analysts to raise their price targets on MSFT stock. Wells Fargo, for instance, boosted its target from $650 to $700 and maintained an overweight rating due to the company's growth prospects and ecosystem strength.