Microsoft Corporation (MSFT) Rose on Accelerated Growth from Azure

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The S&P 500 Index rose 11.7% in Q4 and 26.3% for the year. Investors became more comfortable that the U.S. Federal Reserve was done with raising interest rates, leading to a decrease of over 70 basis points in 10-year U.S. Treasury yields. The Federal Reserve’s core Personal Consumption Expenditures (PCE) Price Index has been moderating on a year-over-year basis, easing concerns about interest rates. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Growth & Income Fund featured stocks like Microsoft Corporation (NASDAQ:MSFT) in its Q4 2023 investor letter. Headquartered in Redmond, Washington, Microsoft Corporation (NASDAQ:MSFT) is a multinational software company that develops, and licenses software, services, devices, and solutions. On March 8, 2024, Microsoft Corporation (NASDAQ:MSFT) stock closed at $406.22 per share. One-month return of Microsoft Corporation (NASDAQ:MSFT) was -3.41%, and its shares gained 63.41% of their value over the last 52 weeks. Microsoft Corporation (NASDAQ:MSFT) has a market capitalization of $3.018 trillion.

Carillon Eagle Growth & Income Fund stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its fourth quarter 2023 investor letter:

“Microsoft Corporation (NASDAQ:MSFT) performed well after reporting strong earnings supported by accelerated growth from Azure. The cloud business is seeing consistent trends from optimization while AI has contributed strongly to its growth.”

A development team working together to create the next version of Windows.

Microsoft Corporation (NASDAQ:MSFT) is in first position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Microsoft Corporation (NASDAQ:MSFT) was held by 302 hedge fund portfolios, down from 306 in the previous quarter, according to our database.

We discussed Microsoft Corporation (NASDAQ:MSFT) in another article and shared the list of AI stocks picked by Wall Street picked for 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.