Icon Wealth Advisors LLC Sells 75,961 Shares of Microsoft Co. (NASDAQ:MSFT)

Icon Wealth Advisors LLC lessened its stake in shares of Microsoft Co. (NASDAQ:MSFT - Free Report) by 91.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,358 shares of the software giant's stock after selling 75,961 shares during the quarter. Icon Wealth Advisors LLC's holdings in Microsoft were worth $3,166,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Net Worth Advisory Group purchased a new position in shares of Microsoft during the third quarter valued at approximately $2,645,000. Oak Ridge Investments LLC boosted its holdings in shares of Microsoft by 7.6% during the third quarter. Oak Ridge Investments LLC now owns 263,534 shares of the software giant's stock worth $113,399,000 after purchasing an additional 18,544 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Microsoft by 1.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,975,200 shares of the software giant's stock valued at $882,816,000 after purchasing an additional 31,401 shares during the period. Jacobs & Co. CA lifted its position in Microsoft by 0.9% during the third quarter. Jacobs & Co. CA now owns 96,021 shares of the software giant's stock worth $41,318,000 after buying an additional 880 shares during the period. Finally, Focus Financial Network Inc. boosted its stake in Microsoft by 2.0% in the 3rd quarter. Focus Financial Network Inc. now owns 76,296 shares of the software giant's stock worth $32,830,000 after buying an additional 1,489 shares during the last quarter. Hedge funds and other institutional investors own 71.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MSFT shares. Oppenheimer cut shares of Microsoft from an "outperform" rating to a "market perform" rating in a research report on Tuesday, October 8th. Stifel Nicolaus increased their target price on Microsoft from $475.00 to $515.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Truist Financial reissued a "buy" rating and set a $600.00 price target on shares of Microsoft in a research report on Monday, October 28th. BMO Capital Markets decreased their target price on Microsoft from $500.00 to $495.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of Microsoft from $470.00 to $465.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $510.24.

Microsoft Stock Performance

Shares of NASDAQ:MSFT traded down $27.34 on Thursday, reaching $414.99. 53,865,877 shares of the company's stock were exchanged, compared to its average volume of 22,496,486. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15. Microsoft Co. has a twelve month low of $385.58 and a twelve month high of $468.35. The company has a fifty day moving average of $432.55 and a 200-day moving average of $424.95. The company has a market capitalization of $3.09 trillion, a price-to-earnings ratio of 34.24, a PEG ratio of 2.40 and a beta of 0.90.

Microsoft (NASDAQ:MSFT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The software giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.08. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. During the same period in the previous year, the firm posted $2.93 earnings per share. On average, research analysts predict that Microsoft Co. will post 12.9 EPS for the current fiscal year.

Microsoft Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Thursday, February 20th. Microsoft's payout ratio is 27.39%.

Insider Buying and Selling

In related news, CMO Takeshi Numoto sold 1,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $414.72, for a total value of $414,720.00. Following the transaction, the chief marketing officer now directly owns 57,511 shares in the company, valued at $23,850,961.92. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Judson Althoff sold 25,000 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $417.00, for a total transaction of $10,425,000.00. Following the completion of the transaction, the executive vice president now directly owns 117,294 shares in the company, valued at approximately $48,911,598. The trade was a 17.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,200 shares of company stock worth $17,383,892 in the last 90 days. Insiders own 0.03% of the company's stock.

Microsoft Profile

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.