Harbour Trust & Investment Management Co grew its stake in Microsoft Co. (NASDAQ:MSFT - Free Report) by 9.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,451 shares of the software giant's stock after purchasing an additional 3,217 shares during the quarter. Microsoft makes up about 1.8% of Harbour Trust & Investment Management Co's holdings, making the stock its 13th largest position. Harbour Trust & Investment Management Co's holdings in Microsoft were worth $16,115,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of Microsoft by 48,526.1% during the 3rd quarter. International Assets Investment Management LLC now owns 38,501,645 shares of the software giant's stock valued at $16,567,258,000 after purchasing an additional 38,422,466 shares during the last quarter. Swedbank AB purchased a new position in shares of Microsoft in the first quarter worth about $5,587,119,000. Wulff Hansen & CO. lifted its stake in shares of Microsoft by 47,196.6% during the 2nd quarter. Wulff Hansen & CO. now owns 4,834,658 shares of the software giant's stock valued at $2,160,850,000 after buying an additional 4,824,436 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Microsoft by 67.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,963,863 shares of the software giant's stock worth $2,566,250,000 after buying an additional 2,404,348 shares during the period. Finally, Strategic Financial Concepts LLC raised its holdings in Microsoft by 31,648.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,871,892 shares of the software giant's stock valued at $8,366,000 after acquiring an additional 1,865,996 shares during the period. Hedge funds and other institutional investors own 71.13% of the company's stock.
Insider Transactions at Microsoft
In other Microsoft news, CMO Takeshi Numoto sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $414.72, for a total transaction of $414,720.00. Following the sale, the chief marketing officer now owns 57,511 shares in the company, valued at approximately $23,850,961.92. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher David Young sold 7,200 shares of Microsoft stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 in the company, valued at $43,792,039.56. This represents a 6.51 % 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. 0.03% of the stock is currently owned by insiders.
Microsoft Stock Performance
Shares of NASDAQ MSFT traded down $0.43 during midday trading on Friday, hitting $436.60. 54,224,020 shares of the stock traded hands, compared to its average volume of 20,730,301. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.29 and a current ratio of 1.30. Microsoft Co. has a one year low of $366.50 and a one year high of $468.35. The firm has a market capitalization of $3.25 trillion, a P/E ratio of 36.02, a PEG ratio of 2.37 and a beta of 0.90. The firm has a 50-day moving average of $427.02 and a two-hundred day moving average of $428.42.
Microsoft (NASDAQ:MSFT - Get Free Report) last announced its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share (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 analysts' expectations of $64.57 billion. During the same period last year, the firm posted $2.99 earnings per share. The business's revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Microsoft Co. will post 12.93 EPS for the current fiscal year.
Microsoft announced that its board has initiated a stock repurchase program on Monday, September 16th that allows the company to buyback $60.00 billion in shares. This buyback authorization allows the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.
Microsoft Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a $0.83 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.32 annualized dividend and a yield of 0.76%. Microsoft's payout ratio is presently 27.39%.
Analysts Set New Price Targets
A number of brokerages recently issued reports on MSFT. Oppenheimer cut Microsoft from an "outperform" rating to a "market perform" rating in a report on Tuesday, October 8th. Wedbush reaffirmed an "outperform" rating and set a $550.00 price objective on shares of Microsoft in a research note on Tuesday, November 19th. JPMorgan Chase & Co. reduced their target price on Microsoft from $470.00 to $465.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Truist Financial reaffirmed a "buy" rating and issued a $600.00 price target on shares of Microsoft in a report on Monday, October 28th. Finally, BMO Capital Markets lowered their target price on shares of Microsoft from $500.00 to $495.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $508.46.
Check Out Our Latest Research Report on MSFT
About Microsoft
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Free Report)
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.
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