Sumitomo Life Insurance Co. reduced its position in Microsoft Co. (NASDAQ:MSFT – Free Report) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 110,243 shares of the software giant’s stock after selling 8,092 shares during the period. Microsoft accounts for approximately 1.7% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 7th largest holding. Sumitomo Life Insurance Co.’s holdings in Microsoft were worth $37,542,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MSFT. Sightline Wealth Advisors LLC raised its holdings in Microsoft by 0.9% in the second quarter. Sightline Wealth Advisors LLC now owns 3,337 shares of the software giant’s stock worth $962,000 after purchasing an additional 29 shares in the last quarter. Eagle Bluffs Wealth Management LLC raised its holdings in Microsoft by 0.3% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 10,577 shares of the software giant’s stock worth $3,602,000 after purchasing an additional 31 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in Microsoft by 0.8% in the first quarter. Strategic Investment Solutions Inc. IL now owns 4,208 shares of the software giant’s stock worth $1,213,000 after purchasing an additional 32 shares in the last quarter. Arbor Capital Management Inc. ADV raised its holdings in Microsoft by 0.5% in the first quarter. Arbor Capital Management Inc. ADV now owns 7,166 shares of the software giant’s stock worth $2,074,000 after purchasing an additional 33 shares in the last quarter. Finally, FinDec Wealth Services Inc. raised its holdings in Microsoft by 2.1% in the second quarter. FinDec Wealth Services Inc. now owns 1,651 shares of the software giant’s stock worth $562,000 after purchasing an additional 34 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors.
Microsoft Stock Down 1.0 %
Shares of MSFT opened at $327.73 on Friday. The business’s 50 day moving average is $324.89 and its 200 day moving average is $321.58. The company 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. Microsoft Co. has a 12-month low of $213.43 and a 12-month high of $366.78. The company has a current ratio of 1.77, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20.
Microsoft Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be issued a $0.75 dividend. This is a boost from Microsoft’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.92%. Microsoft’s payout ratio is 28.07%.
Analyst Upgrades and Downgrades
MSFT has been the subject of a number of research reports. BMO Capital Markets increased their price objective on Microsoft from $385.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. UBS Group raised Microsoft from a “neutral” rating to a “buy” rating and increased their target price for the stock from $345.00 to $400.00 in a research note on Friday, July 14th. Citigroup reissued a “buy” rating and issued a $420.00 target price on shares of Microsoft in a research note on Friday, September 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $390.00 target price on shares of Microsoft in a research note on Friday, September 22nd. Finally, Fundamental Research set a $298.10 target price on Microsoft and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $376.34.
Read Our Latest Report on Microsoft
Insider Transactions at Microsoft
In other news, EVP Kathleen T. Hogan sold 26,815 shares of Microsoft stock in a transaction that occurred 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 transaction, the executive vice president now owns 198,373 shares in the company, valued at approximately $64,941,369.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Kathleen T. Hogan sold 26,815 shares of the business’s 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 completion of the transaction, the executive vice president now owns 198,373 shares in the company, valued at approximately $64,941,369.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Satya Nadella sold 38,234 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 800,668 shares of the company’s stock, valued at approximately $262,963,391.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,049 shares of company stock worth $38,195,619. 0.03% of the stock is currently owned by company insiders.
Microsoft Company Profile
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.
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