Microsoft Co. (NASDAQ:MSFT) is DAVENPORT & Co LLC's 3rd Largest Position

DAVENPORT & Co LLC raised its position in Microsoft Co. (NASDAQ:MSFT - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 920,479 shares of the software giant's stock after purchasing an additional 20,426 shares during the quarter. Microsoft comprises 2.2% of DAVENPORT & Co LLC's investment portfolio, making the stock its 3rd biggest position. DAVENPORT & Co LLC's holdings in Microsoft were worth $388,373,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. BCK Partners Inc. increased its position in shares of Microsoft by 1.8% during the third quarter. BCK Partners Inc. now owns 1,353 shares of the software giant's stock worth $582,000 after purchasing an additional 24 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in Microsoft by 35.7% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 95 shares of the software giant's stock worth $39,000 after acquiring an additional 25 shares during the period. Sequent Asset Management LLC grew its stake in shares of Microsoft by 1.3% in the 3rd quarter. Sequent Asset Management LLC now owns 1,983 shares of the software giant's stock valued at $853,000 after purchasing an additional 25 shares during the last quarter. Cypress Point Wealth Management LLC increased its holdings in shares of Microsoft by 0.8% in the third quarter. Cypress Point Wealth Management LLC now owns 3,208 shares of the software giant's stock valued at $1,380,000 after purchasing an additional 25 shares during the period. Finally, Riverstone Advisors LLC raised its stake in shares of Microsoft by 0.6% during the third quarter. Riverstone Advisors LLC now owns 4,510 shares of the software giant's stock worth $1,941,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 71.13% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. DA Davidson upgraded shares of Microsoft from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $425.00 to $450.00 in a research report on Thursday, March 13th. Stifel Nicolaus lowered their target price on shares of Microsoft from $515.00 to $475.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Royal Bank of Canada reissued an "outperform" rating and set a $500.00 price target on shares of Microsoft in a report on Thursday, January 30th. UBS Group lowered their price objective on Microsoft from $525.00 to $510.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Finally, Morgan Stanley cut their target price on Microsoft from $540.00 to $530.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $510.59.

Microsoft Price Performance

Microsoft stock traded down $11.78 during mid-day trading on Friday, hitting $378.80. 21,606,792 shares of the company were exchanged, compared to its average volume of 20,523,498. Microsoft Co. has a 12-month low of $376.91 and a 12-month high of $468.35. The company has a market capitalization of $2.82 trillion, a P/E ratio of 30.50, a PEG ratio of 2.21 and a beta of 0.92. The business's 50 day simple moving average is $405.52 and its two-hundred day simple moving average is $419.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34.

Microsoft (NASDAQ:MSFT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The software giant reported $3.23 EPS for the quarter, topping analysts' consensus estimates of $3.15 by $0.08. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Analysts forecast that Microsoft Co. will post 13.08 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 15th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, May 15th. Microsoft's payout ratio is 26.73%.

About Microsoft

Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.