Exchange Capital Management Inc. decreased its stake in Microsoft Co. (NASDAQ:MSFT – Free Report) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,502 shares of the software giant’s stock after selling 451 shares during the quarter. Microsoft accounts for about 4.7% of Exchange Capital Management Inc.’s portfolio, making the stock its largest position. Exchange Capital Management Inc.’s holdings in Microsoft were worth $25,371,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in MSFT. Good Life Advisors LLC increased its holdings in shares of Microsoft by 0.6% in the second quarter. Good Life Advisors LLC now owns 54,021 shares of the software giant’s stock worth $18,396,000 after acquiring an additional 311 shares in the last quarter. Carr Financial Group Corp increased its holdings in shares of Microsoft by 4.0% in the second quarter. Carr Financial Group Corp now owns 10,761 shares of the software giant’s stock worth $3,665,000 after acquiring an additional 417 shares in the last quarter. Planning Center Inc. increased its holdings in shares of Microsoft by 24.4% in the second quarter. Planning Center Inc. now owns 4,849 shares of the software giant’s stock worth $1,651,000 after acquiring an additional 950 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Microsoft by 6.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 1,518,749 shares of the software giant’s stock worth $437,855,000 after acquiring an additional 94,563 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of Microsoft by 1.0% during the second quarter. DAVENPORT & Co LLC now owns 868,980 shares of the software giant’s stock worth $295,161,000 after buying an additional 8,762 shares in the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.
Insiders Place Their Bets
In other Microsoft news, insider Bradford L. Smith sold 50,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 588,084 shares in the company, valued at approximately $198,301,924.80. 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 value of $12,557,192.62. Following the transaction, the chief executive officer now owns 800,668 shares in the company, valued at approximately $262,963,391.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bradford L. Smith sold 50,000 shares of Microsoft stock in a transaction 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 approximately $198,301,924.80. The disclosure for this sale can be found here. Insiders have sold a total of 115,049 shares of company stock worth $38,195,619 in the last 90 days. Company insiders own 0.03% of the company’s stock.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The software giant reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.34. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The firm had revenue of $56.52 billion for the quarter, compared to analyst estimates of $54.52 billion. During the same quarter last year, the company earned $2.35 EPS. The company’s revenue was up 12.8% on a year-over-year basis. Research analysts anticipate that Microsoft Co. will post 10.9 earnings per share for the current year.
Microsoft Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders 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 yield of 0.88%. The ex-dividend date of this dividend is Wednesday, November 15th. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. Microsoft’s dividend payout ratio (DPR) is 30.96%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on MSFT. Rosenblatt Securities increased their price objective on Microsoft from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, October 16th. DA Davidson reiterated a “buy” rating and set a $415.00 price objective on shares of Microsoft in a report on Monday, October 16th. UBS Group upgraded Microsoft from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $345.00 to $400.00 in a report on Friday, July 14th. Citigroup increased their price objective on Microsoft from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, StockNews.com initiated coverage on Microsoft in a report on Thursday, October 5th. They set a “buy” rating for the company. Five equities research 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 stock presently has an average rating of “Moderate Buy” and an average target price of $379.93.
Read Our Latest Stock Analysis on Microsoft
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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