State of Alaska Department of Revenue Has $311.34 Million Position in Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Mar 24th, 2023

State of Alaska Department of Revenue increased its holdings in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,298,208 shares of the software giant’s stock after buying an additional 10,742 shares during the quarter. Microsoft comprises 3.9% of State of Alaska Department of Revenue’s portfolio, making the stock its 2nd largest holding. State of Alaska Department of Revenue’s holdings in Microsoft were worth $311,335,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. MU Investments Co. Ltd. grew its holdings in Microsoft by 11.1% in the 4th quarter. MU Investments Co. Ltd. now owns 13,100 shares of the software giant’s stock worth $3,157,000 after buying an additional 1,310 shares in the last quarter. DNB Asset Management AS boosted its stake in Microsoft by 0.9% during the 4th quarter. DNB Asset Management AS now owns 4,635,572 shares of the software giant’s stock valued at $1,111,703,000 after purchasing an additional 41,473 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in Microsoft by 5.5% during the 4th quarter. Financial Management Professionals Inc. now owns 3,259 shares of the software giant’s stock valued at $782,000 after purchasing an additional 169 shares in the last quarter. Harrington Investments INC boosted its stake in Microsoft by 1.7% during the 4th quarter. Harrington Investments INC now owns 29,754 shares of the software giant’s stock valued at $7,136,000 after purchasing an additional 509 shares in the last quarter. Finally, My Personal CFO LLC boosted its stake in Microsoft by 4.5% during the 4th quarter. My Personal CFO LLC now owns 24,316 shares of the software giant’s stock valued at $8,150,000 after purchasing an additional 1,048 shares in the last quarter. 69.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MSFT shares. Wolfe Research decreased their price target on Microsoft from $280.00 to $265.00 and set an “outperform” rating for the company in a research note on Wednesday, January 25th. DA Davidson increased their price target on Microsoft from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Wedbush increased their target price on Microsoft from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, February 24th. The Goldman Sachs Group set a $315.00 target price on Microsoft in a report on Wednesday, January 25th. Finally, Stifel Nicolaus reduced their target price on Microsoft from $290.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and a consensus price target of $287.30.

Microsoft Trading Up 2.0 %

Shares of NASDAQ:MSFT opened at $277.66 on Friday. The company has a market cap of $2.07 trillion, a P/E ratio of 30.85, a P/E/G ratio of 2.50 and a beta of 0.92. The stock’s 50-day moving average is $255.62 and its 200-day moving average is $245.93. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $315.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.89 and a current ratio of 1.93.

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

Microsoft Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Thursday, May 18th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, May 17th. Microsoft’s payout ratio is presently 30.22%.

Insider Activity at Microsoft

In related news, CEO Satya Nadella sold 4,767 shares of the stock in a transaction dated 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 owns 788,625 shares in the company, valued at $196,272,990. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CMO Christopher C. Capossela sold 1,000 shares of the stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $272.32, for a total value of $272,320.00. Following the completion of the sale, the chief marketing officer now owns 116,362 shares in the company, valued at $31,687,699.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chief executive officer now owns 788,625 shares of the company’s stock, valued at approximately $196,272,990. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,767 shares of company stock worth $1,728,111. Company insiders own 0.03% of the company’s stock.

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.