Bridge Creek Capital Management LLC reduced its stake in Microsoft Co. (NASDAQ:MSFT – Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,011 shares of the software giant’s stock after selling 658 shares during the quarter. Microsoft makes up approximately 3.7% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Bridge Creek Capital Management LLC’s holdings in Microsoft were worth $10,220,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Monumental Financial Group Inc. purchased a new stake in Microsoft in the 1st quarter valued at $28,000. Gleason Group Inc. grew its holdings in shares of Microsoft by 111.7% during the 1st 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 period. Syverson Strege & Co grew its holdings in shares of Microsoft by 157.0% during the 1st 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 period. Carolina Wealth Advisors LLC grew its holdings in shares of Microsoft by 39.0% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 303 shares of the software giant’s stock worth $103,000 after purchasing an additional 85 shares during the period. Finally, Alapocas Investment Partners Inc. purchased a new position in shares of Microsoft during the 1st quarter worth $97,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.
Microsoft Trading Up 0.6 %
Shares of MSFT stock opened at $329.81 on Friday. The business’s 50 day moving average is $326.68 and its two-hundred day moving average is $324.39. Microsoft Co. has a twelve month low of $213.43 and a twelve month high of $366.78. The company has a market capitalization of $2.45 trillion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 2.25 and a beta of 0.91. The company has a current ratio of 1.66, a quick ratio of 1.75 and a debt-to-equity ratio of 0.19.
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 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, November 15th. Microsoft’s dividend payout ratio (DPR) is 26.33%.
Insider Buying and Selling at Microsoft
In related 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 sale, the executive vice president now directly owns 198,373 shares in the company, valued at $64,941,369.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related 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 sale, the executive vice president now directly owns 198,373 shares in the company, valued at $64,941,369.01. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 completion of the sale, the chief executive officer now owns 800,668 shares in the company, valued at $262,963,391.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,049 shares of company stock worth $38,195,619. 0.03% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Microsoft in a report on Wednesday. DA Davidson restated a “buy” rating and set a $415.00 target price on shares of Microsoft in a report on Monday, October 16th. Guggenheim upgraded Microsoft from a “sell” rating to a “neutral” rating in a report on Monday, September 25th. Loop Capital started coverage on Microsoft in a report on Tuesday, October 17th. They set a “buy” rating and a $425.00 target price for the company. Finally, BMO Capital Markets raised their target price on Microsoft from $385.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $384.34.
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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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