Pettee Investors Inc. Has $4.70 Million Holdings in Microsoft Co. (NASDAQ:MSFT)

Posted by on Apr 20th, 2023

Pettee Investors Inc. lifted its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,577 shares of the software giant’s stock after buying an additional 1,145 shares during the period. Microsoft comprises approximately 2.3% of Pettee Investors Inc.’s investment portfolio, making the stock its 12th biggest position. Pettee Investors Inc.’s holdings in Microsoft were worth $4,695,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Monumental Financial Group Inc. acquired a new stake in Microsoft in the first quarter valued at $28,000. Iron Horse Wealth Management LLC acquired a new stake in Microsoft in the fourth quarter valued at $26,000. Hanseatic Management Services Inc. increased its holdings in 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 purchasing an additional 55 shares during the period. Retirement Financial Solutions LLC acquired a new stake in Microsoft in the fourth quarter valued at $40,000. Finally, Macroview Investment Management LLC acquired a new stake in Microsoft in the fourth quarter valued at $61,000. 69.15% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Trading Up 0.0 %

NASDAQ:MSFT opened at $288.45 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.89 and a current ratio of 1.93. The firm has a market cap of $2.15 trillion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 2.53 and a beta of 0.93. Microsoft Co. has a 52 week low of $213.43 and a 52 week high of $294.18. The firm has a 50-day moving average price of $270.00 and a two-hundred day moving average price of $251.03.

Microsoft (NASDAQ:MSFT – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The software giant reported $2.32 EPS for the quarter, beating the consensus estimate of $2.27 by $0.05. The firm had revenue of $52.75 billion during the quarter, compared to analyst estimates of $53.17 billion. Microsoft had a net margin of 33.05% and a return on equity of 39.87%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.48 EPS. On average, equities analysts expect that Microsoft Co. will post 9.31 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Thursday, May 18th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $2.72 annualized dividend and a yield of 0.94%. Microsoft’s dividend payout ratio (DPR) is 30.22%.

Insider Buying and Selling at Microsoft

In other Microsoft 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 approximately $196,272,990. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Satya Nadella sold 4,767 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $248.88, for a total transaction 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 approximately $196,272,990. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Christopher C. Capossela sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $269.38, for a total transaction of $269,380.00. Following the sale, the chief marketing officer now owns 117,362 shares of the company’s stock, valued at approximately $31,614,975.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,767 shares of company stock worth $1,728,111. Insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MSFT. UBS Group set a $275.00 price target on shares of Microsoft in a research report on Monday, March 20th. Stifel Nicolaus upped their price target on shares of Microsoft from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, April 14th. Fundamental Research cut their price target on shares of Microsoft from $269.73 to $259.47 and set a “buy” rating on the stock in a research report on Thursday, February 2nd. Piper Sandler upped their price target on shares of Microsoft from $247.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $285.00 price target on shares of Microsoft in a research report on Friday, March 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $297.71.

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.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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