Harvey Capital Management Inc. Buys 2,520 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Jun 18th, 2023

Harvey Capital Management Inc. boosted its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 65,145 shares of the software giant’s stock after buying an additional 2,520 shares during the period. Microsoft makes up approximately 6.5% of Harvey Capital Management Inc.’s holdings, making the stock its 2nd biggest holding. Harvey Capital Management Inc.’s holdings in Microsoft were worth $15,623,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. ST Germain D J Co. Inc. grew its stake in shares of Microsoft by 59.5% in the fourth quarter. ST Germain D J Co. Inc. now owns 140,190 shares of the software giant’s stock valued at $12,627,000 after buying an additional 52,293 shares in the last quarter. Cravens & Co Advisors LLC bought a new position in shares of Microsoft in the fourth quarter valued at $1,240,000. Builder Investment Group Inc. ADV bought a new position in shares of Microsoft in the fourth quarter valued at $8,163,000. SRS Capital Advisors Inc. grew its stake in shares of Microsoft by 3.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 9,416 shares of the software giant’s stock valued at $2,258,000 after buying an additional 350 shares in the last quarter. Finally, Bridgewealth Advisory Group LLC bought a new position in shares of Microsoft in the fourth quarter valued at $489,000. 69.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MSFT shares. KeyCorp raised their target price on shares of Microsoft from $316.00 to $335.00 and gave the company an “overweight” rating in a research note on Thursday, April 20th. Raymond James raised their price target on Microsoft from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Morgan Stanley raised their price target on Microsoft from $307.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Atlantic Securities raised their price target on Microsoft from $290.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Finally, Moffett Nathanson raised their price target on Microsoft from $263.00 to $306.00 and gave the company a “market perform” rating in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.23.

Insider Buying and Selling at Microsoft

In other Microsoft news, Director Teri List sold 1,250 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $334.77, for a total transaction of $418,462.50. Following the completion of the sale, the director now owns 874 shares of the company’s stock, valued at approximately $292,588.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Microsoft news, EVP Judson Althoff sold 30,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $306.09, for a total transaction of $9,182,700.00. Following the transaction, the executive vice president now directly owns 117,456 shares in the company, valued at approximately $35,952,107.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Teri List sold 1,250 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $334.77, for a total value of $418,462.50. Following the transaction, the director now owns 874 shares in the company, valued at $292,588.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,331 shares of company stock valued at $15,867,278. 0.03% of the stock is currently owned by company insiders.

Microsoft Stock Performance

NASDAQ:MSFT opened at $342.33 on Friday. The stock has a market cap of $2.55 trillion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.93. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average is $311.86 and its 200-day moving average is $274.40. Microsoft Co. has a 1-year low of $213.43 and a 1-year high of $351.47.

Microsoft (NASDAQ:MSFT – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The software giant reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.23. The company had revenue of $52.86 billion for the quarter, compared to analysts’ expectations of $51.01 billion. Microsoft had a return on equity of 38.98% and a net margin of 33.25%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.22 earnings per share. Equities research analysts anticipate that Microsoft Co. will post 9.65 earnings per share for the current year.

Microsoft Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, August 16th. Microsoft’s dividend payout ratio is presently 29.47%.

About Microsoft

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Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.