State of Alaska Department of Revenue Has $449.97 Million Position in Microsoft Co. (NASDAQ:MSFT)

State of Alaska Department of Revenue cut its holdings in shares of Microsoft Co. (NASDAQ:MSFT - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,067,542 shares of the software giant's stock after selling 31,142 shares during the period. Microsoft makes up 5.0% of State of Alaska Department of Revenue's holdings, making the stock its 2nd biggest holding. State of Alaska Department of Revenue's holdings in Microsoft were worth $449,968,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Net Worth Advisory Group purchased a new stake in shares of Microsoft in the third quarter valued at about $2,645,000. Adamsbrown Wealth Consultants LLC boosted its stake in shares of Microsoft by 2.2% in the 4th quarter. Adamsbrown Wealth Consultants LLC now owns 5,967 shares of the software giant's stock worth $2,515,000 after buying an additional 130 shares during the last quarter. Oak Ridge Investments LLC boosted its stake in shares of Microsoft by 7.6% in the 3rd quarter. Oak Ridge Investments LLC now owns 263,534 shares of the software giant's stock worth $113,399,000 after buying an additional 18,544 shares during the last quarter. Focus Financial Network Inc. grew its holdings in shares of Microsoft by 2.0% in the third quarter. Focus Financial Network Inc. now owns 76,296 shares of the software giant's stock valued at $32,830,000 after acquiring an additional 1,489 shares in the last quarter. Finally, Campbell Wealth Management purchased a new stake in shares of Microsoft during the third quarter valued at approximately $3,314,000. Institutional investors and hedge funds own 71.13% of the company's stock.

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Microsoft Price Performance

Shares of NASDAQ:MSFT traded down $1.98 on Monday, hitting $357.86. The company's stock had a trading volume of 50,017,125 shares, compared to its average volume of 20,896,489. The company has a market capitalization of $2.66 trillion, a PE ratio of 28.81, a PEG ratio of 2.21 and a beta of 1.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34. The company has a 50-day simple moving average of $397.55 and a 200 day simple moving average of $416.67. Microsoft Co. has a 1 year low of $344.93 and a 1 year high of $468.35.

Microsoft (NASDAQ:MSFT - Get Free Report) last announced its earnings results on Wednesday, January 29th. The software giant reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates 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 company earned $2.93 EPS. Sell-side analysts forecast that Microsoft Co. will post 13.08 EPS for the current fiscal year.

Microsoft Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.93%. Microsoft's dividend payout ratio (DPR) is presently 26.73%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MSFT shares. Royal Bank of Canada restated an "outperform" rating and issued a $500.00 price objective on shares of Microsoft in a research note on Thursday, January 30th. DA Davidson upgraded shares of Microsoft from a "neutral" rating to a "buy" rating and increased their price target for the company from $425.00 to $450.00 in a research report on Thursday, March 13th. UBS Group decreased their price objective on shares of Microsoft from $525.00 to $510.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Jefferies Financial Group reiterated a "buy" rating and issued a $475.00 target price (down from $500.00) on shares of Microsoft in a research note on Monday. Finally, Wedbush restated an "outperform" rating and set a $550.00 price target on shares of Microsoft in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $508.00.

Microsoft 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.