Raleigh Capital Management Inc. Lowers Stock Position in Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Oct 31st, 2023

Raleigh Capital Management Inc. reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,244 shares of the software giant’s stock after selling 132 shares during the period. Microsoft accounts for 1.1% of Raleigh Capital Management Inc.’s portfolio, making the stock its 23rd biggest holding. Raleigh Capital Management Inc.’s holdings in Microsoft were worth $2,126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Monumental Financial Group Inc. bought a new stake in Microsoft in the 1st quarter worth approximately $28,000. Gleason Group Inc. increased its stake in Microsoft by 111.7% in the 1st quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock worth $57,000 after acquiring an additional 105 shares during the last quarter. Syverson Strege & Co increased its stake in Microsoft by 157.0% in the 1st quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock worth $58,000 after acquiring an additional 124 shares during the last quarter. MayTech Global Investments LLC bought a new stake in Microsoft in the 4th quarter worth approximately $83,000. Finally, Beutel Goodman & Co Ltd. increased its stake in Microsoft by 57.5% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock worth $95,000 after acquiring an additional 150 shares during the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

Microsoft Trading Up 2.3 %

Shares of NASDAQ MSFT opened at $337.31 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.66 and a quick ratio of 1.64. The stock has a market capitalization of $2.51 trillion, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 2.20 and a beta of 0.91. Microsoft Co. has a 1-year low of $213.43 and a 1-year high of $366.78. The business has a fifty day moving average price of $326.98 and a 200 day moving average price of $325.31.

Microsoft (NASDAQ:MSFT – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The software giant reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.34. The firm had revenue of $56.52 billion during the quarter, compared to analysts’ expectations of $54.52 billion. Microsoft had a return on equity of 38.79% and a net margin of 35.31%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.35 EPS. Equities research analysts expect that Microsoft Co. will post 11.11 EPS for the current fiscal year.

Microsoft Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be given a dividend of $0.75 per share. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. This represents a $3.00 annualized dividend and a yield of 0.89%. The ex-dividend date is Wednesday, November 15th. Microsoft’s dividend payout ratio is currently 29.04%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $390.00 price objective on shares of Microsoft in a research note on Wednesday, October 25th. TD Cowen lifted their price objective on Microsoft from $330.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 19th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $385.00 target price on shares of Microsoft in a research report on Friday, September 22nd. Bank of America boosted their target price on Microsoft from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, Redburn Partners cut their target price on Microsoft from $450.00 to $440.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $384.34.

View Our Latest Stock Analysis on MSFT

Insider Activity at Microsoft

In related news, EVP Kathleen T. Hogan sold 26,815 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 198,373 shares of the company’s stock, valued at approximately $64,941,369.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Satya Nadella sold 38,234 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 800,668 shares of the company’s stock, valued at approximately $262,963,391.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathleen T. Hogan sold 26,815 shares of the stock in a transaction dated Friday, September 1st. The shares were 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 directly owns 198,373 shares in the company, valued at $64,941,369.01. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by corporate 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.

Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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