Microsoft Co. (NASDAQ:MSFT) is Miracle Mile Advisors LLC's 6th Largest Position

Miracle Mile Advisors LLC grew its stake in Microsoft Co. (NASDAQ:MSFT - Free Report) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 306,024 shares of the software giant's stock after purchasing an additional 3,802 shares during the period. Microsoft makes up about 3.0% of Miracle Mile Advisors LLC's portfolio, making the stock its 6th biggest position. Miracle Mile Advisors LLC's holdings in Microsoft were worth $131,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MSFT. Eagle Rock Investment Company LLC increased its holdings in Microsoft by 13.0% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 42,556 shares of the software giant's stock worth $18,312,000 after purchasing an additional 4,895 shares during the period. Consilio Wealth Advisors LLC increased its holdings in Microsoft by 3.4% during the 3rd quarter. Consilio Wealth Advisors LLC now owns 51,388 shares of the software giant's stock worth $22,111,000 after purchasing an additional 1,709 shares during the period. Chemistry Wealth Management LLC increased its holdings in Microsoft by 2.3% during the 3rd quarter. Chemistry Wealth Management LLC now owns 16,500 shares of the software giant's stock worth $7,100,000 after purchasing an additional 368 shares during the period. Boston Standard Wealth Management LLC increased its holdings in Microsoft by 10.5% during the 3rd quarter. Boston Standard Wealth Management LLC now owns 1,516 shares of the software giant's stock worth $652,000 after purchasing an additional 144 shares during the period. Finally, Smith Anglin Financial LLC increased its holdings in Microsoft by 11.3% during the 3rd quarter. Smith Anglin Financial LLC now owns 14,586 shares of the software giant's stock worth $6,276,000 after purchasing an additional 1,484 shares during the period. 71.13% of the stock is owned by institutional investors.

Microsoft Price Performance

Shares of MSFT opened at $415.49 on Thursday. Microsoft Co. has a fifty-two week low of $362.90 and a fifty-two week high of $468.35. The company has a market capitalization of $3.09 trillion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.91. The firm has a 50-day simple moving average of $422.46 and a 200-day simple moving average of $426.13. 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 (NASDAQ:MSFT - Get Free Report) last announced its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.20. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The business had revenue of $65.59 billion during the quarter, compared to the consensus estimate of $64.57 billion. During the same quarter in the prior year, the firm earned $2.99 earnings per share. The business's quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Microsoft Co. will post 12.94 earnings per share for the current year.

Microsoft Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.83 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.32 dividend on an annualized basis and a yield of 0.80%. This is an increase from Microsoft's previous quarterly dividend of $0.75. Microsoft's dividend payout ratio (DPR) is presently 27.39%.

Microsoft announced that its Board of Directors has approved a share buyback plan on Monday, September 16th that permits the company to repurchase $60.00 billion in shares. This repurchase authorization permits the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on MSFT shares. Wells Fargo & Company restated a "buy" rating on shares of Microsoft in a report on Friday, October 18th. UBS Group cut their price target on Microsoft from $510.00 to $500.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. KeyCorp lifted their price target on Microsoft from $490.00 to $505.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Citigroup lowered their price objective on Microsoft from $500.00 to $497.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Microsoft from $470.00 to $465.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, Microsoft has a consensus rating of "Moderate Buy" and an average price target of $503.03.

Insider Activity at Microsoft

In related news, CMO Takeshi Numoto sold 2,500 shares of the firm's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total value of $1,027,600.00. Following the completion of the sale, the chief marketing officer now owns 50,000 shares in the company, valued at $20,552,000. This trade represents a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher David Young sold 7,200 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president now owns 103,366 shares of the company's stock, valued at approximately $43,792,039.56. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,829 shares of company stock worth $80,966,837 over the last 90 days. Company insiders own 0.03% of the company's stock.

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.