Hayek Kallen Investment Management Trims Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Hayek Kallen Investment Management lessened its holdings in Microsoft Co. (NASDAQ:MSFT - Free Report) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,568 shares of the software giant's stock after selling 1,167 shares during the quarter. Microsoft accounts for about 9.3% of Hayek Kallen Investment Management's holdings, making the stock its 2nd biggest position. Hayek Kallen Investment Management's holdings in Microsoft were worth $26,493,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Swedbank AB purchased a new position in shares of Microsoft during the 1st quarter worth approximately $5,587,119,000. Wulff Hansen & CO. lifted its position in Microsoft by 47,196.6% during the second quarter. Wulff Hansen & CO. now owns 4,834,658 shares of the software giant's stock worth $2,160,850,000 after buying an additional 4,824,436 shares during the period. Vanguard Group Inc. boosted its stake in Microsoft by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 667,987,038 shares of the software giant's stock worth $281,035,506,000 after buying an additional 3,078,099 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Microsoft by 77.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,281,925 shares of the software giant's stock valued at $2,642,931,000 after acquiring an additional 2,744,900 shares during the last quarter. Finally, M&G Plc purchased a new position in shares of Microsoft during the 1st quarter worth about $846,072,000. 71.13% of the stock is owned by hedge funds and other institutional investors.

Microsoft Price Performance

Shares of NASDAQ:MSFT opened at $431.20 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $420.83 and a 200 day moving average price of $426.70. The company has a market cap of $3.21 trillion, a price-to-earnings ratio of 35.58, a PEG ratio of 2.29 and a beta of 0.90. Microsoft Co. has a twelve month low of $362.90 and a twelve month high of $468.35.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.20. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The firm had revenue of $65.59 billion during the quarter, compared to the consensus estimate of $64.57 billion. During the same period in the prior year, the firm earned $2.99 EPS. The business's revenue was up 16.0% on a year-over-year basis. Research analysts predict that Microsoft Co. will post 12.93 earnings per share for the current year.

Microsoft Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.77%. Microsoft's dividend payout ratio is presently 27.39%.

Microsoft announced that its Board of Directors has approved 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 buy up to 1.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company reaffirmed a "buy" rating on shares of Microsoft in a research note on Friday, October 18th. The Goldman Sachs Group reduced their target price on Microsoft from $515.00 to $500.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. StockNews.com upgraded Microsoft from a "hold" rating to a "buy" rating in a research note on Tuesday. DA Davidson downgraded shares of Microsoft from a "buy" rating to a "neutral" rating and set a $475.00 target price on the stock. in a research note on Monday, September 23rd. Finally, TD Cowen reduced their price target on Microsoft from $495.00 to $475.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. Based on data from MarketBeat, Microsoft presently has an average rating of "Moderate Buy" and an average price target of $503.03.

Insider Buying and Selling

In related news, insider Bradford L. Smith sold 40,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $402.59, for a total transaction of $16,103,600.00. Following the completion of the sale, the insider now owns 544,847 shares in the company, valued at $219,349,953.73. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy Hood sold 38,000 shares of the business's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $410.55, for a total transaction of $15,600,900.00. Following the completion of the transaction, the chief financial officer now owns 496,369 shares in the company, valued at approximately $203,784,292.95. This trade represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,578 shares of company stock valued at $55,279,956 over the last ninety days. 0.03% of the stock is owned by company insiders.

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.