New Millennium Group LLC Purchases 6,860 Shares of Microsoft Co. (NASDAQ:MSFT)

New Millennium Group LLC lifted its stake in Microsoft Co. (NASDAQ:MSFT - Free Report) by 16.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,526 shares of the software giant's stock after purchasing an additional 6,860 shares during the quarter. Microsoft accounts for 13.2% of New Millennium Group LLC's portfolio, making the stock its largest position. New Millennium Group LLC's holdings in Microsoft were worth $20,450,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Christopher J. Hasenberg Inc grew its stake in shares of Microsoft by 169.2% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant's stock valued at $31,000 after buying an additional 44 shares in the last quarter. Quarry LP acquired a new stake in Microsoft in the second quarter valued at approximately $45,000. MidAtlantic Capital Management Inc. bought a new stake in Microsoft in the third quarter worth approximately $62,000. Innealta Capital LLC acquired a new position in shares of Microsoft during the 2nd quarter worth $75,000. Finally, Carolina Wealth Advisors LLC raised its holdings in shares of Microsoft by 10.1% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 338 shares of the software giant's stock valued at $145,000 after purchasing an additional 31 shares in the last quarter. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MSFT shares. Truist Financial reiterated a "buy" rating and issued a $600.00 price objective on shares of Microsoft in a report on Monday, October 28th. BMO Capital Markets lowered their price objective on Microsoft from $500.00 to $495.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Loop Capital boosted their target price on Microsoft from $500.00 to $550.00 and gave the stock a "buy" rating in a report on Monday, December 23rd. KeyCorp increased 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. Finally, TD Cowen reduced their price objective on shares of Microsoft from $495.00 to $475.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Microsoft currently has a consensus rating of "Moderate Buy" and an average price target of $512.66.

Microsoft Stock Down 0.6 %

Microsoft stock traded down $2.65 during midday trading on Friday, reaching $444.06. The stock had a trading volume of 15,539,488 shares, compared to its average volume of 15,490,811. Microsoft Co. has a 1-year low of $385.58 and a 1-year high of $468.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.29 and a current ratio of 1.30. The firm's fifty day simple moving average is $431.05 and its 200-day simple moving average is $425.54. The stock has a market capitalization of $3.30 trillion, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 2.40 and a beta of 0.90.

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

Microsoft Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Thursday, February 20th. Microsoft's payout ratio is 27.39%.

Insider Activity at Microsoft

In other Microsoft news, EVP Judson Althoff sold 25,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $417.00, for a total value of $10,425,000.00. Following the completion of the sale, the executive vice president now owns 117,294 shares in the company, valued at $48,911,598. This trade represents a 17.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Takeshi Numoto sold 2,500 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $447.41, for a total transaction of $1,118,525.00. Following the transaction, the chief marketing officer now owns 49,352 shares in the company, valued at $22,080,578.32. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,200 shares of company stock valued at $17,383,892. 0.03% of the stock is owned by insiders.

Microsoft Company 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.