Proffitt & Goodson Inc. Sells 150 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Aug 2nd, 2023

Proffitt & Goodson Inc. lessened its stake in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,697 shares of the software giant’s stock after selling 150 shares during the quarter. Microsoft comprises approximately 0.7% of Proffitt & Goodson Inc.’s holdings, making the stock its 24th largest position. Proffitt & Goodson Inc.’s holdings in Microsoft were worth $3,372,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Affiance Financial LLC lifted its holdings in Microsoft by 0.3% during the first quarter. Affiance Financial LLC now owns 10,362 shares of the software giant’s stock worth $2,988,000 after acquiring an additional 35 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in shares of Microsoft by 1.3% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 2,898 shares of the software giant’s stock valued at $835,000 after purchasing an additional 36 shares in the last quarter. Rede Wealth LLC lifted its holdings in shares of Microsoft by 0.4% in the first quarter. Rede Wealth LLC now owns 9,653 shares of the software giant’s stock valued at $2,783,000 after purchasing an additional 37 shares in the last quarter. Sentinel Pension Advisors Inc. lifted its holdings in shares of Microsoft by 1.1% in the fourth quarter. Sentinel Pension Advisors Inc. now owns 3,746 shares of the software giant’s stock valued at $898,000 after purchasing an additional 39 shares in the last quarter. Finally, Providence First Trust Co lifted its holdings in shares of Microsoft by 2.5% in the fourth quarter. Providence First Trust Co now owns 1,645 shares of the software giant’s stock valued at $395,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Microsoft news, CMO Christopher C. Capossela sold 5,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $308.70, for a total transaction of $1,543,500.00. Following the completion of the sale, the chief marketing officer now directly owns 105,206 shares in the company, valued at approximately $32,477,092.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Teri List sold 1,250 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were 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 of the company’s stock, valued at approximately $292,588.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Christopher C. Capossela sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $308.70, for a total transaction of $1,543,500.00. Following the completion of the transaction, the chief marketing officer now directly owns 105,206 shares in the company, valued at approximately $32,477,092.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,331 shares of company stock worth $6,684,578. Company insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Microsoft from $385.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Citigroup lowered their target price on Microsoft from $425.00 to $420.00 in a research report on Wednesday, July 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $400.00 target price on shares of Microsoft in a research report on Wednesday, July 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $410.00 target price on shares of Microsoft in a research report on Friday, July 28th. Finally, Bank of America lifted their target price on Microsoft from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $368.98.

Microsoft Stock Up 0.1 %

NASDAQ MSFT opened at $336.34 on Wednesday. The business has a fifty day moving average price of $336.87 and a two-hundred day moving average price of $296.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 1.75. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $366.78. The stock has a market capitalization of $2.50 trillion, a PE ratio of 34.71, a PEG ratio of 2.50 and a beta of 0.92.

Microsoft (NASDAQ:MSFT – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The software giant reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.14. The company had revenue of $56.19 billion during the quarter, compared to the consensus estimate of $55.49 billion. Microsoft had a net margin of 34.15% and a return on equity of 38.70%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.23 earnings per share. Equities analysts expect that Microsoft Co. will post 10.85 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 17th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.72 dividend on an annualized basis and a yield of 0.81%. Microsoft’s payout ratio is 28.07%.

About Microsoft

(Free Report)

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.