Bard Financial Services Inc. significantly reduced its stake in Microsoft (MSFT, Financial) by 71.4% in the third quarter of 2024. A new filing with the Securities and Exchange Commission shows that the firm has cut its stake in the tech behemoth from 137,447 shares to 55,111 shares. Eliminating this means Microsoft will be the second largest position in Bard's investment portfolio at 4.9% or $23.7 million.

• Warning! GuruFocus has detected 2 Warning Sign with MSFT.

This has happened against the backdrop of other changes in investor behavior towards Microsoft. In the first quarter, the banking company Swedbank AB intended to fund $5.59 billion for shares in Microsoft as its new investment. However, over the same period, Wulff Hansen & Co. declared an astounding 47,196.6% increment in its Microsoft stock by purchasing nearly 480,000 shares, raising its stake to $2.16 billion. Besides, Vanguard Group and Canada Pension Plan Investment Board raised their positions in the company as they see more value in its future growth potential.

Despite Bard Financial, companies, investment funds, and other related entities continue to hold large stakes in Microsoft, with 71.13% of the shares outstanding. Again, Microsoft is expanding its cloud computing and AI business, which indicates a growing market. However, the large investors' moves depict that the market is still volatile and requires careful portfolio management given the rapidly changing technology sector.

This article first appeared on GuruFocus.