Microsoft Stock Rises Amid Investor Confidence

Hartford Financial Management Inc. increased its stake in Microsoft Co. by 4.0% during the third quarter, acquiring an additional 2,001 shares to own a total of 51,857 shares. Microsoft represents 4.6% of Hartford Financial’s portfolio, making it the firm’s second-largest holding. The total value of these holdings reached $22,314,000 at the end of the quarter. Other major investors also adjusted their positions, with notable increases from firms like Christopher J. Hasenberg Inc. and Carolina Wealth Advisors LLC. Microsoft stock recently traded at $421.50, with a market cap of $3.13 trillion and a price-to-earnings ratio of 34.78. The company’s recent quarterly revenue rose 16.0% year-over-year to $65.59 billion, beating analysts’ estimates. Microsoft’s board approved a $60 billion share repurchase program, reflecting confidence in its valuation. Analysts continue to rate the stock favorably, with a consensus price target of $509.90.