Legacy Bridge LLC Sells 681 Shares of Microsoft Co. (NASDAQ:MSFT)

Legacy Bridge LLC trimmed its holdings in shares of Microsoft Co. (NASDAQ:MSFT - Free Report) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,951 shares of the software giant's stock after selling 681 shares during the quarter. Microsoft accounts for about 1.8% of Legacy Bridge LLC's portfolio, making the stock its 5th largest position. Legacy Bridge LLC's holdings in Microsoft were worth $3,421,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MSFT. International Assets Investment Management LLC raised its stake in Microsoft by 48,526.1% in the 3rd quarter. International Assets Investment Management LLC now owns 38,501,645 shares of the software giant's stock worth $16,567,258,000 after acquiring an additional 38,422,466 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Microsoft by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 34,511,544 shares of the software giant's stock worth $15,426,767,000 after purchasing an additional 97,075 shares during the period. Dimensional Fund Advisors LP boosted its position in Microsoft by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 24,091,789 shares of the software giant's stock valued at $10,768,771,000 after buying an additional 1,563,533 shares during the last quarter. Swiss National Bank increased its holdings in Microsoft by 0.3% in the 3rd quarter. Swiss National Bank now owns 20,957,770 shares of the software giant's stock worth $9,018,128,000 after buying an additional 57,800 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Microsoft by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,388,106 shares of the software giant's stock worth $7,912,402,000 after buying an additional 251,408 shares during the last quarter. 71.13% of the stock is owned by institutional investors and hedge funds.

Microsoft Price Performance

Shares of NASDAQ:MSFT traded down $2.65 during midday trading on Friday, hitting $444.06. The company had a trading volume of 15,539,488 shares, compared to its average volume of 15,490,811. The business's 50-day simple moving average is $431.05 and its 200-day simple moving average is $425.54. The stock has a market cap of $3.30 trillion, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 2.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.30 and a quick ratio of 1.29. Microsoft Co. has a twelve month low of $385.58 and a twelve month high of $468.35.

Microsoft (NASDAQ:MSFT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, topping the consensus estimate of $3.10 by $0.20. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. The business had revenue of $65.59 billion for the quarter, compared to analyst estimates of $64.57 billion. During the same quarter in the previous year, the firm earned $2.99 EPS. The company's quarterly revenue was up 16.0% compared to the same quarter last year. On average, research analysts predict that Microsoft Co. will post 12.9 earnings per share for the current year.

Microsoft Dividend Announcement

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. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.32 annualized dividend and a dividend yield of 0.75%. Microsoft's dividend payout ratio (DPR) is 27.39%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Microsoft from $548.00 to $540.00 and set an "overweight" rating on the stock in a research note on Wednesday. UBS Group lifted their price objective on Microsoft from $500.00 to $525.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Mizuho upped their target price on Microsoft from $480.00 to $510.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Wells Fargo & Company reissued a "buy" rating on shares of Microsoft in a report on Friday, October 18th. Finally, Loop Capital lifted their target price on shares of Microsoft from $500.00 to $550.00 and gave the company a "buy" rating in a report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $512.66.

Insider Activity

In related news, CMO Takeshi Numoto sold 1,000 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $414.72, for a total value of $414,720.00. Following the sale, the chief marketing officer now directly owns 57,511 shares in the company, valued at approximately $23,850,961.92. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher David Young sold 7,200 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total transaction of $3,050,352.00. Following the transaction, the executive vice president now directly owns 103,366 shares of the company's stock, valued at approximately $43,792,039.56. This trade represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,200 shares of company stock valued at $17,383,892. 0.03% of the stock is currently owned by company insiders.

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.