Charter Oak Capital Management LLC raised its stake in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,671 shares of the software giant’s stock after purchasing an additional 209 shares during the period. Charter Oak Capital Management LLC’s holdings in Microsoft were worth $2,612,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Good Life Advisors LLC lifted its holdings in Microsoft by 0.6% during the second quarter. Good Life Advisors LLC now owns 54,021 shares of the software giant’s stock valued at $18,396,000 after purchasing an additional 311 shares in the last quarter. Carr Financial Group Corp lifted its holdings in Microsoft by 4.0% during the second quarter. Carr Financial Group Corp now owns 10,761 shares of the software giant’s stock valued at $3,665,000 after purchasing an additional 417 shares in the last quarter. Planning Center Inc. lifted its holdings in Microsoft by 24.4% during the second quarter. Planning Center Inc. now owns 4,849 shares of the software giant’s stock valued at $1,651,000 after purchasing an additional 950 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in Microsoft by 6.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 1,518,749 shares of the software giant’s stock valued at $437,855,000 after purchasing an additional 94,563 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in Microsoft by 1.0% during the second quarter. DAVENPORT & Co LLC now owns 868,980 shares of the software giant’s stock valued at $295,161,000 after purchasing an additional 8,762 shares in the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on MSFT shares. Royal Bank of Canada reissued an “outperform” rating and issued a $390.00 price target on shares of Microsoft in a research note on Friday, September 22nd. Citigroup reissued a “buy” rating and issued a $420.00 price target on shares of Microsoft in a research note on Friday, September 22nd. UBS Group raised shares of Microsoft from a “neutral” rating to a “buy” rating and raised their price target for the stock from $345.00 to $400.00 in a research note on Friday, July 14th. Jefferies Financial Group reissued a “buy” rating and issued a $400.00 price target on shares of Microsoft in a research note on Monday, October 2nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $410.00 price target on shares of Microsoft in a research note on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $377.85.
Microsoft Trading Down 0.6 %
Shares of MSFT stock opened at $330.11 on Thursday. 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 stock has a market capitalization of $2.45 trillion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 2.45 and a beta of 0.91. The company has a 50 day moving average price of $325.22 and a 200 day moving average price of $322.57. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $366.78.
Microsoft (NASDAQ:MSFT – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The software giant reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.14. Microsoft had a net margin of 34.15% and a return on equity of 38.70%. The firm had revenue of $56.19 billion during the quarter, compared to analysts’ expectations of $55.49 billion. During the same quarter in the previous year, the business posted $2.23 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict 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. Investors of record on Thursday, November 16th will be paid 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 0.91%. This is an increase from Microsoft’s previous quarterly dividend of $0.68. Microsoft’s payout ratio is currently 28.07%.
Insider Buying and Selling
In related news, insider Bradford L. Smith sold 50,000 shares of Microsoft 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 owns 588,084 shares in the company, valued at $198,301,924.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Bradford L. Smith sold 50,000 shares of Microsoft 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 owns 588,084 shares in the company, valued at $198,301,924.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders sold 115,049 shares of company stock worth $38,195,619 over the last 90 days. 0.03% of the stock is owned by insiders.
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.
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