Addenda Capital Inc. Sells 2,265 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Mar 25th, 2023

Addenda Capital Inc. lessened its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,110 shares of the software giant’s stock after selling 2,265 shares during the quarter. Microsoft makes up 1.3% of Addenda Capital Inc.’s holdings, making the stock its 20th biggest holding. Addenda Capital Inc.’s holdings in Microsoft were worth $30,963,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSFT. Walled Lake Planning & Wealth Management LLC boosted its position in Microsoft by 0.5% during the second quarter. Walled Lake Planning & Wealth Management LLC now owns 7,369 shares of the software giant’s stock worth $1,893,000 after acquiring an additional 38 shares during the last quarter. Donoghue Forlines LLC boosted its position in Microsoft by 1.6% during the second quarter. Donoghue Forlines LLC now owns 2,598 shares of the software giant’s stock worth $667,000 after acquiring an additional 40 shares during the last quarter. Rovin Capital UT ADV boosted its position in Microsoft by 1.1% during the third quarter. Rovin Capital UT ADV now owns 3,747 shares of the software giant’s stock worth $873,000 after acquiring an additional 40 shares during the last quarter. Fountainhead AM LLC boosted its position in Microsoft by 1.0% during the second quarter. Fountainhead AM LLC now owns 4,196 shares of the software giant’s stock worth $1,078,000 after acquiring an additional 41 shares during the last quarter. Finally, Lokken Investment Group LLC boosted its position in Microsoft by 0.3% during the second quarter. Lokken Investment Group LLC now owns 11,976 shares of the software giant’s stock worth $3,076,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 69.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MSFT shares. Stifel Nicolaus decreased their target price on shares of Microsoft from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 25th. BMO Capital Markets lowered shares of Microsoft from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $267.00 to $265.00 in a report on Wednesday, January 25th. They noted that the move was a valuation call. Guggenheim lowered shares of Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 target price on the stock. in a report on Tuesday, January 17th. Evercore ISI boosted their target price on shares of Microsoft from $280.00 to $295.00 in a report on Monday, March 20th. Finally, DA Davidson boosted their target price on shares of Microsoft from $280.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $287.92.

Microsoft Trading Up 1.0 %

Shares of NASDAQ:MSFT opened at $280.57 on Friday. Microsoft Co. has a 52 week low of $213.43 and a 52 week high of $315.95. The company’s 50 day moving average is $256.45 and its two-hundred day moving average is $246.10. The company has a current ratio of 1.93, a quick ratio of 1.89 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.09 trillion, a PE ratio of 31.17, a P/E/G ratio of 2.51 and a beta of 0.92.

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

Microsoft Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 18th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, May 17th. Microsoft’s dividend payout ratio (DPR) is 30.22%.

Insider Activity at Microsoft

In related news, CMO Christopher C. Capossela sold 1,000 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $272.32, for a total value of $272,320.00. Following the transaction, the chief marketing officer now directly owns 116,362 shares of the company’s stock, valued at approximately $31,687,699.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Satya Nadella sold 4,767 shares of the 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 transaction, the chief executive officer now directly owns 788,625 shares of the company’s stock, valued at approximately $196,272,990. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Christopher C. Capossela sold 1,000 shares of the 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 sale, the chief marketing officer now owns 116,362 shares of the company’s stock, valued at approximately $31,687,699.84. The disclosure for this sale can be found here. Insiders have sold 6,767 shares of company stock valued at $1,728,111 in the last ninety days. Insiders own 0.03% of the company’s stock.

About Microsoft

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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.