Microsoft Co. (NASDAQ:MSFT) Shares Sold by JCIC Asset Management Inc.

Posted by on Mar 21st, 2023

JCIC Asset Management Inc. lessened its holdings in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,011 shares of the software giant’s stock after selling 2,469 shares during the period. Microsoft accounts for 5.5% of JCIC Asset Management Inc.’s holdings, making the stock its 2nd biggest position. JCIC Asset Management Inc.’s holdings in Microsoft were worth $11,034,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MSFT. Monumental Financial Group Inc. acquired a new stake in Microsoft in the first quarter valued at approximately $28,000. Hanseatic Management Services Inc. raised its stake in shares of Microsoft by 71.4% in the third quarter. Hanseatic Management Services Inc. now owns 132 shares of the software giant’s stock valued at $31,000 after buying an additional 55 shares during the period. Morgan Dempsey Capital Management LLC bought a new stake in shares of Microsoft during the 3rd quarter valued at $82,000. Avondale Wealth Management grew its position in Microsoft by 58.6% during the third quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock worth $95,000 after buying an additional 150 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. grew its position in Microsoft by 57.5% during the third quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock worth $95,000 after buying an additional 150 shares in the last quarter. 69.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com assumed coverage on Microsoft in a research report on Thursday, March 16th. They set a “hold” rating for the company. UBS Group set a $275.00 price target on Microsoft in a research note on Monday. Citigroup raised their target price on Microsoft from $280.00 to $282.00 and gave the stock a “buy” rating in a report on Wednesday, January 25th. Barclays decreased their price target on Microsoft from $296.00 to $280.00 and set an “overweight” rating on the stock in a report on Tuesday, January 10th. Finally, DA Davidson lifted their target price on Microsoft from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.30.

Microsoft Trading Down 2.6 %

Microsoft stock opened at $272.23 on Tuesday. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $315.95. The company has a quick ratio of 1.89, a current ratio of 1.93 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.03 trillion, a P/E ratio of 30.25, a P/E/G ratio of 2.57 and a beta of 0.92. The business has a 50-day simple moving average of $253.21 and a two-hundred day simple moving average of $245.40.

Microsoft (NASDAQ:MSFT – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The software giant reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.05. The business had revenue of $52.75 billion for the quarter, compared to analysts’ expectations of $53.17 billion. Microsoft had a return on equity of 39.87% and a net margin of 33.05%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.48 EPS. Analysts predict that Microsoft Co. will post 9.34 EPS for the current year.

Microsoft Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Thursday, May 18th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, May 17th. Microsoft’s dividend payout ratio (DPR) is currently 30.22%.

Insider Buying and Selling at Microsoft

In related news, CEO Satya Nadella sold 4,767 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $248.88, for a total transaction of $1,186,410.96. Following the sale, the chief executive officer now directly owns 788,625 shares of the company’s stock, valued at $196,272,990. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Microsoft news, CMO Christopher C. Capossela sold 1,000 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $272.32, for a total transaction of $272,320.00. Following the completion of the sale, the chief marketing officer now owns 116,362 shares of the company’s stock, valued at $31,687,699.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Satya Nadella sold 4,767 shares of Microsoft stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $248.88, for a total value of $1,186,410.96. Following the completion of the sale, the chief executive officer now directly owns 788,625 shares of the company’s stock, valued at $196,272,990. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,767 shares of company stock worth $1,728,111. 0.03% of the stock is owned by insiders.

Microsoft Company Profile

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Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment consists of Office Commercial (Office 365 subscriptions, the Office 365 portion of Microsoft 365 Commercial subscriptions, and Office licensed on-premises), Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, Office Consumer, including Microsoft 365 Consumer subscriptions, Office licensed on-premises, and other Office services, LinkedIn, including Talent Solutions, Marketing Solutions, Premium Subscriptions, Sales Solutions, and Learning Solutions, Dynamics business solutions, including Dynamics 365, comprising a set of intelligent, cloud-based applications across ERP, CRM, Customer Insights, Power Apps, and Power Automate, and on-premises ERP and CRM applications.

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