Spinnaker Investment Group LLC Raises Stock Position in Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Oct 18th, 2023

Spinnaker Investment Group LLC grew its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,144 shares of the software giant’s stock after purchasing an additional 193 shares during the period. Microsoft comprises about 1.4% of Spinnaker Investment Group LLC’s portfolio, making the stock its 14th biggest position. Spinnaker Investment Group LLC’s holdings in Microsoft were worth $4,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MSFT. Moneta Group Investment Advisors LLC increased its stake in Microsoft by 112,158.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 150,187,424 shares of the software giant’s stock worth $36,017,948,000 after purchasing an additional 150,053,637 shares during the period. Norges Bank purchased a new stake in Microsoft during the fourth quarter worth about $20,700,525,000. Aaron Wealth Advisors LLC increased its stake in Microsoft by 35,465.9% during the first quarter. Aaron Wealth Advisors LLC now owns 20,611,140 shares of the software giant’s stock worth $66,852,000 after purchasing an additional 20,553,188 shares during the period. Providence Capital Advisors LLC increased its stake in shares of Microsoft by 29,789.2% during the first quarter. Providence Capital Advisors LLC now owns 16,570,893 shares of the software giant’s stock worth $57,477,000 after buying an additional 16,515,452 shares during the period. Finally, Morgan Stanley increased its stake in shares of Microsoft by 14.0% during the fourth quarter. Morgan Stanley now owns 119,417,954 shares of the software giant’s stock worth $28,638,815,000 after buying an additional 14,652,150 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on MSFT shares. Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Microsoft in a research note on Thursday, September 21st. Jefferies Financial Group restated a “buy” rating and set a $400.00 target price on shares of Microsoft in a research note on Monday, October 2nd. Wells Fargo & Company restated an “overweight” rating and set a $400.00 target price on shares of Microsoft in a research note on Monday, October 2nd. Piper Sandler restated an “overweight” rating and set a $400.00 target price on shares of Microsoft in a research note on Monday. Finally, BMO Capital Markets upped 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. Five investment analysts have rated the stock with a hold rating and thirty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Microsoft currently has an average rating of “Moderate Buy” and a consensus target price of $377.85.

View Our Latest Research Report on Microsoft

Microsoft Price Performance

Microsoft stock opened at $332.06 on Wednesday. Microsoft Co. has a one year low of $213.43 and a one year high of $366.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.77. The business has a fifty day moving average of $325.07 and a two-hundred day moving average of $322.52. The company has a market cap of $2.47 trillion, a P/E ratio of 34.27, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91.

Microsoft (NASDAQ:MSFT – Get Free Report) last released 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 quarter last year, the company earned $2.23 earnings per share. Microsoft’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts predict that Microsoft Co. will post 10.9 earnings per share for the current fiscal year.

Microsoft Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $3.00 dividend on an annualized basis and a yield of 0.90%. This is an increase from Microsoft’s previous quarterly dividend of $0.68. Microsoft’s dividend payout ratio (DPR) is 30.96%.

Insider Buying and Selling at Microsoft

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

Microsoft Company 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.