Red Spruce Capital LLC Has $4.50 Million Holdings in Microsoft Co. (NASDAQ:MSFT)

Posted by on Jun 21st, 2023

Red Spruce Capital LLC increased its holdings in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,597 shares of the software giant’s stock after purchasing an additional 37 shares during the period. Microsoft makes up about 2.6% of Red Spruce Capital LLC’s investment portfolio, making the stock its 9th largest position. Red Spruce Capital LLC’s holdings in Microsoft were worth $4,497,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MSFT. Optas LLC boosted its stake in Microsoft by 2.7% during the fourth quarter. Optas LLC now owns 25,001 shares of the software giant’s stock worth $5,996,000 after buying an additional 651 shares during the period. West Branch Capital LLC boosted its stake in shares of Microsoft by 0.5% during the 4th quarter. West Branch Capital LLC now owns 44,418 shares of the software giant’s stock worth $10,652,000 after purchasing an additional 227 shares during the period. Quilter Plc boosted its stake in shares of Microsoft by 1.4% during the 4th quarter. Quilter Plc now owns 844,299 shares of the software giant’s stock worth $202,480,000 after purchasing an additional 11,563 shares during the period. Seascape Capital Management grew its holdings in Microsoft by 41.9% during the 3rd quarter. Seascape Capital Management now owns 2,908 shares of the software giant’s stock valued at $677,000 after purchasing an additional 858 shares during the last quarter. Finally, SeaTown Holdings Pte. Ltd. raised its position in Microsoft by 3.1% in the 4th quarter. SeaTown Holdings Pte. Ltd. now owns 200,299 shares of the software giant’s stock worth $48,036,000 after purchasing an additional 6,000 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Microsoft Price Performance

Shares of MSFT stock opened at $338.05 on Wednesday. The firm has a market capitalization of $2.51 trillion, a price-to-earnings ratio of 36.63, a PEG ratio of 3.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.88 and a current ratio of 1.91. The stock’s 50-day simple moving average is $314.02 and its 200-day simple moving average is $275.74. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $351.47.

Microsoft (NASDAQ:MSFT – Get Rating) last released its 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. Microsoft had a net margin of 33.25% and a return on equity of 38.98%. The company had revenue of $52.86 billion for the quarter, compared to the consensus estimate of $51.01 billion. During the same quarter in the previous year, the firm earned $2.22 EPS. Microsoft’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts forecast that Microsoft Co. will post 9.65 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, August 16th. This represents a $2.72 dividend on an annualized basis and a yield of 0.80%. Microsoft’s dividend payout ratio is currently 29.47%.

Insider Activity

In related news, CMO Christopher C. Capossela sold 5,000 shares of Microsoft stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $310.05, for a total transaction of $1,550,250.00. Following the completion of the sale, the chief marketing officer now owns 110,206 shares of the company’s stock, valued at $34,169,370.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Microsoft news, EVP Judson Althoff sold 30,000 shares of Microsoft stock in a transaction dated 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 completion of the transaction, the executive vice president now 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 accessible through this link. Also, CMO Christopher C. Capossela sold 5,000 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $310.05, for a total value of $1,550,250.00. Following the completion of the sale, the chief marketing officer now owns 110,206 shares in the company, valued at approximately $34,169,370.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,331 shares of company stock valued at $15,867,278. Company insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Mizuho upped their target price on Microsoft from $340.00 to $360.00 in a research note on Thursday, June 15th. Wolfe Research increased their target price on Microsoft from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Fundamental Research lowered shares of Microsoft from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Barclays raised their price target on shares of Microsoft from $310.00 to $336.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Finally, Raymond James boosted their price objective on shares of Microsoft from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirty-two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $333.23.

Microsoft Profile

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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.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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