Cable Hill Partners LLC Sells 290 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Oct 14th, 2023

Cable Hill Partners LLC lessened its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,710 shares of the software giant’s stock after selling 290 shares during the quarter. Microsoft makes up approximately 0.9% of Cable Hill Partners LLC’s portfolio, making the stock its 17th largest holding. Cable Hill Partners LLC’s holdings in Microsoft were worth $7,053,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MSFT. Sightline Wealth Advisors LLC grew its position in shares of Microsoft by 0.9% in the 2nd quarter. Sightline Wealth Advisors LLC now owns 3,337 shares of the software giant’s stock valued at $962,000 after purchasing an additional 29 shares during the period. Eagle Bluffs Wealth Management LLC boosted its position in Microsoft by 0.3% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 10,577 shares of the software giant’s stock worth $3,602,000 after acquiring an additional 31 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its position in Microsoft by 0.8% during the 1st quarter. Strategic Investment Solutions Inc. IL now owns 4,208 shares of the software giant’s stock worth $1,213,000 after acquiring an additional 32 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its position in Microsoft by 0.5% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 7,166 shares of the software giant’s stock worth $2,074,000 after acquiring an additional 33 shares during the last quarter. Finally, Affiance Financial LLC boosted its position in Microsoft by 0.3% during the 1st 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 during the last quarter. Institutional investors own 69.20% of the company’s stock.

Insider Activity

In other news, insider Bradford L. Smith sold 50,000 shares of Microsoft stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the sale, the insider now directly owns 588,084 shares of the company’s stock, valued at $198,301,924.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Microsoft news, CEO Satya Nadella sold 38,234 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 800,668 shares of the company’s stock, valued at $262,963,391.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bradford L. Smith sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total value of $16,860,000.00. Following the completion of the transaction, the insider now directly owns 588,084 shares in the company, valued at $198,301,924.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,049 shares of company stock valued at $38,195,619. 0.03% of the stock is currently owned by corporate insiders.

Microsoft Stock Performance

NASDAQ:MSFT opened at $327.73 on Friday. The stock’s 50-day simple moving average is $324.89 and its 200 day simple moving average is $321.26. The firm has a market capitalization of $2.43 trillion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. The company has a quick ratio of 1.75, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. Microsoft Co. has a twelve month low of $213.43 and a twelve month high of $366.78.

Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings data 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. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The business had revenue of $56.19 billion for the quarter, compared to analyst estimates of $55.49 billion. During the same period last year, the firm posted $2.23 earnings per share. Microsoft’s revenue was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Microsoft Co. will post 10.9 EPS 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 paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.92%. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. The ex-dividend date is Wednesday, November 15th. Microsoft’s dividend payout ratio (DPR) is presently 28.07%.

Analyst Ratings Changes

A number of research firms have weighed in on MSFT. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $385.00 price target on shares of Microsoft in a research report on Friday, September 22nd. HSBC assumed coverage on Microsoft in a report on Friday, September 15th. They issued a “hold” rating and a $347.00 price objective for the company. Tigress Financial increased their price objective on Microsoft from $411.00 to $433.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Rosenblatt Securities increased their price objective on Microsoft from $310.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $400.00 price objective on shares of Microsoft in a report on Monday, October 2nd. Five analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.34.

Read Our Latest Analysis on Microsoft

About Microsoft

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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.