Microsoft Co. (NASDAQ:MSFT) Shares Sold by Kennedy Investment Group

Posted by Defense World Staff on Oct 14th, 2023

Kennedy Investment Group lowered its position in Microsoft Co. (NASDAQ:MSFT – Free Report) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,845 shares of the software giant’s stock after selling 74 shares during the period. Kennedy Investment Group’s holdings in Microsoft were worth $1,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Monumental Financial Group Inc. acquired a new stake in Microsoft during the 1st quarter valued at $28,000. Gleason Group Inc. boosted its holdings in shares of Microsoft by 111.7% during the first quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock worth $57,000 after purchasing an additional 105 shares during the last quarter. Syverson Strege & Co boosted its holdings in shares of Microsoft by 157.0% during the first quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock worth $58,000 after purchasing an additional 124 shares during the last quarter. MayTech Global Investments LLC purchased a new position in shares of Microsoft in the 4th quarter worth $83,000. Finally, Beutel Goodman & Co Ltd. raised its position in shares of Microsoft by 57.5% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock worth $95,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.

Insider Activity

In other news, CEO Satya Nadella sold 38,234 shares of Microsoft stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $328.43, for a total transaction of $12,557,192.62. Following the sale, the chief executive officer now owns 800,668 shares of the company’s stock, valued at $262,963,391.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Bradford L. Smith sold 50,000 shares of Microsoft stock in a transaction that occurred on 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 owns 588,084 shares of the company’s stock, valued at $198,301,924.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Satya Nadella sold 38,234 shares of Microsoft stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $328.43, for a total value of $12,557,192.62. Following the sale, the chief executive officer now directly owns 800,668 shares in the company, valued at approximately $262,963,391.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,049 shares of company stock valued at $38,195,619. Insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MSFT shares. Barclays increased their target price on Microsoft from $336.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $400.00 target price on shares of Microsoft in a research report on Monday, October 2nd. Bank of America increased their target price on Microsoft from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Raymond James raised their price objective on Microsoft from $320.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Finally, Wedbush reissued an “outperform” rating and issued a $400.00 price objective on shares of Microsoft in a research report on Thursday, September 21st. Five research analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $376.34.

Check Out Our Latest Research Report on Microsoft

Microsoft Stock Performance

Shares of MSFT stock opened at $327.73 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $324.89 and a two-hundred day moving average of $321.26. Microsoft Co. has a 52 week low of $213.43 and a 52 week high of $366.78. The company has a market cap of $2.43 trillion, a P/E ratio of 33.82, a PEG ratio of 2.43 and a beta of 0.91.

Microsoft (NASDAQ:MSFT – Get Free Report) last issued its earnings results on Tuesday, July 25th. The software giant reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.14. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The company had revenue of $56.19 billion during the quarter, compared to the consensus estimate of $55.49 billion. During the same period in the previous year, the firm posted $2.23 earnings per share. Microsoft’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Microsoft Co. will post 10.9 EPS for the current year.

Microsoft Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be paid a $0.75 dividend. This is an increase from Microsoft’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Wednesday, November 15th. Microsoft’s payout ratio is presently 28.07%.

Microsoft Profile

(Free Report)

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.