New Millennium Group LLC trimmed its stake in Microsoft Co. (NASDAQ:MSFT - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,040 shares of the software giant's stock after selling 1,486 shares during the quarter. Microsoft comprises 11.3% of New Millennium Group LLC's portfolio, making the stock its largest position. New Millennium Group LLC's holdings in Microsoft were worth $19,406,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in MSFT. WFA Asset Management Corp raised its holdings in shares of Microsoft by 27.0% in the 1st quarter. WFA Asset Management Corp now owns 1,016 shares of the software giant's stock worth $427,000 after purchasing an additional 216 shares during the period. Ironwood Wealth Management LLC. raised its holdings in Microsoft by 0.3% in the second quarter. Ironwood Wealth Management LLC. now owns 12,658 shares of the software giant's stock valued at $5,658,000 after buying an additional 38 shares during the period. AMF Tjanstepension AB raised its stake in shares of Microsoft by 1.8% in the 3rd quarter. AMF Tjanstepension AB now owns 2,799,261 shares of the software giant's stock valued at $1,204,664,000 after acquiring an additional 49,735 shares during the period. Enterprise Bank & Trust Co increased its holdings in Microsoft by 1.5% in the 3rd quarter. Enterprise Bank & Trust Co now owns 36,946 shares of the software giant's stock valued at $15,898,000 after purchasing an additional 529 shares in the last quarter. Finally, Patten Group Inc. grew its stake in shares of Microsoft by 0.7% in the third quarter. Patten Group Inc. now owns 44,217 shares of the software giant's stock valued at $19,027,000 after buying an additional 299 shares in the last quarter. Institutional investors and hedge funds own 71.13% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on MSFT shares. DA Davidson raised shares of Microsoft from a "neutral" rating to a "buy" rating and increased their price target for the stock from $425.00 to $450.00 in a research report on Thursday, March 13th. UBS Group reduced their target price on Microsoft from $525.00 to $510.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Piper Sandler reiterated an "overweight" rating and issued a $520.00 price target on shares of Microsoft in a report on Monday, January 27th. Scotiabank initiated coverage on shares of Microsoft in a research report on Thursday, March 20th. They set a "sector outperform" rating and a $470.00 price objective for the company. Finally, Mizuho lowered their target price on Microsoft from $510.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. According to MarketBeat, Microsoft currently has an average rating of "Moderate Buy" and a consensus target price of $510.59.
Check Out Our Latest Stock Analysis on MSFT
Microsoft Price Performance
Shares of NASDAQ:MSFT traded down $9.83 during midday trading on Friday, reaching $380.75. 5,999,331 shares of the company's stock were exchanged, compared to its average volume of 20,468,536. Microsoft Co. has a 12 month low of $376.91 and a 12 month high of $468.35. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.34 and a current ratio of 1.35. The firm has a market capitalization of $2.83 trillion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 2.21 and a beta of 0.92. The company's 50 day simple moving average is $406.52 and its two-hundred day simple moving average is $419.25.
Microsoft (NASDAQ:MSFT - Get Free Report) last issued its earnings results on Wednesday, January 29th. The software giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.15 by $0.08. Microsoft had a net margin of 35.43% and a return on equity of 33.36%. During the same period in the prior year, the firm posted $2.93 EPS. Equities research analysts expect that Microsoft Co. will post 13.08 earnings per share for the current fiscal year.
Microsoft Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 15th will be given a $0.83 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.87%. Microsoft's dividend payout ratio is 26.73%.
About Microsoft
(
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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