Hofer & Associates. Inc lifted its stake in Microsoft Co. (NASDAQ:MSFT – Free Report) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,427 shares of the software giant’s stock after buying an additional 136 shares during the period. Microsoft makes up approximately 1.1% of Hofer & Associates. Inc’s holdings, making the stock its 23rd largest holding. Hofer & Associates. Inc’s holdings in Microsoft were worth $1,167,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Good Life Advisors LLC increased its holdings in shares of Microsoft by 0.6% in the second quarter. Good Life Advisors LLC now owns 54,021 shares of the software giant’s stock worth $18,396,000 after buying an additional 311 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Microsoft by 6.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 1,518,749 shares of the software giant’s stock worth $437,855,000 after buying an additional 94,563 shares during the period. Spinnaker Investment Group LLC increased its holdings in shares of Microsoft by 2.6% in the first quarter. Spinnaker Investment Group LLC now owns 11,951 shares of the software giant’s stock worth $3,445,000 after buying an additional 305 shares during the period. Kalos Management Inc. purchased a new position in Microsoft during the 1st quarter valued at about $159,000. Finally, Premier Fund Managers Ltd increased its holdings in Microsoft by 117.2% during the 1st quarter. Premier Fund Managers Ltd now owns 85,364 shares of the software giant’s stock valued at $24,250,000 after purchasing an additional 46,056 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.
Insider Activity
In other news, EVP Kathleen T. Hogan sold 26,815 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $327.37, for a total transaction of $8,778,426.55. Following the transaction, the executive vice president now directly owns 198,373 shares of the company’s stock, valued at approximately $64,941,369.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Satya Nadella sold 38,234 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $328.43, for a total value of $12,557,192.62. Following the completion of the sale, the chief executive officer now directly owns 800,668 shares in the company, valued at approximately $262,963,391.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathleen T. Hogan sold 26,815 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $327.37, for a total value of $8,778,426.55. Following the completion of the sale, the executive vice president now owns 198,373 shares of the company’s stock, valued at $64,941,369.01. The disclosure for this sale can be found here. Insiders have sold 115,049 shares of company stock valued at $38,195,619 in the last ninety days. 0.03% of the stock is currently owned by company insiders.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The software giant reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.14. The firm had revenue of $56.19 billion for the quarter, compared to analysts’ expectations of $55.49 billion. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 EPS. As a group, research analysts forecast that Microsoft Co. will post 10.9 earnings per share for the current fiscal year.
Microsoft Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.93%. This is a boost from Microsoft’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, November 15th. Microsoft’s dividend payout ratio is presently 28.07%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Tigress Financial boosted their price target on Microsoft from $411.00 to $433.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Wells Fargo & Company restated an “overweight” rating and set a $400.00 price target on shares of Microsoft in a report on Monday. BMO Capital Markets boosted their price target on Microsoft from $385.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Wedbush restated an “outperform” rating and set a $400.00 price target on shares of Microsoft in a report on Thursday, September 21st. Finally, StockNews.com assumed coverage on Microsoft in a report on Thursday, August 17th. They set a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $376.34.
Check Out Our Latest Research Report on Microsoft
About Microsoft
Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.
Featured Articles
- Five stocks we like better than Microsoft
- How Investors Can Find the Best Cheap Dividend Stocks
- Here’s Why Cloudflare may be the Ultimate Cloud Stock to Own
- 3 Grocery Stocks That Are Proving They Are Still Essential
- 5 Reasons Why Arcos Dorados Is A Perfect Investment for 2024
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- Nvidia Stock, Christmas Comes Early If You’re On the Fence
Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Co. (NASDAQ:MSFT – Free Report).
Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.
