Violich Capital Management Inc. reduced its position in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,194 shares of the software giant’s stock after selling 2,835 shares during the period. Microsoft makes up 10.3% of Violich Capital Management Inc.’s portfolio, making the stock its biggest holding. Violich Capital Management Inc.’s holdings in Microsoft were worth $63,747,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MSFT. Monumental Financial Group Inc. bought a new position in shares of Microsoft during the first quarter valued at about $28,000. Gleason Group Inc. grew its holdings in Microsoft by 111.7% in the first 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 first quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock valued at $58,000 after buying an additional 124 shares during the last quarter. Carolina Wealth Advisors LLC grew its holdings in shares of Microsoft by 39.0% during the second quarter. Carolina Wealth Advisors LLC now owns 303 shares of the software giant’s stock valued at $103,000 after buying an additional 85 shares during the last quarter. Finally, Alapocas Investment Partners Inc. purchased a new stake in shares of Microsoft during the first quarter valued at approximately $97,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.
Microsoft Stock Up 0.2 %
Shares of Microsoft stock opened at $338.11 on Wednesday. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $366.78. The company has a 50 day moving average of $326.98 and a 200 day moving average of $325.31. The company has a quick ratio of 1.64, a current ratio of 1.66 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $2.51 trillion, a P/E ratio of 32.73, a P/E/G ratio of 2.20 and a beta of 0.91.
Microsoft Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, November 15th. This is an increase from Microsoft’s previous quarterly dividend of $0.68. Microsoft’s payout ratio is currently 26.33%.
Insider Transactions at Microsoft
In other news, EVP Kathleen T. Hogan sold 26,815 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $327.37, for a total transaction of $8,778,426.55. Following the completion of the sale, the executive vice president now owns 198,373 shares in the company, valued at approximately $64,941,369.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kathleen T. Hogan sold 26,815 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 198,373 shares in the company, valued at approximately $64,941,369.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Satya Nadella sold 38,234 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $328.43, for a total transaction 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 approximately $262,963,391.24. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Microsoft from $430.00 to $432.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. HSBC upgraded shares of Microsoft from a “hold” rating to a “buy” rating and raised their price objective for the company from $347.00 to $413.00 in a research report on Thursday, October 26th. Tigress Financial raised their price objective on shares of Microsoft from $411.00 to $433.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Redburn Partners decreased their price objective on shares of Microsoft from $450.00 to $440.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. Finally, DA Davidson reaffirmed a “buy” rating and set a $415.00 target price on shares of Microsoft in a research note on Monday, October 16th. Four 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, the company has a consensus rating of “Moderate Buy” and an average price target of $384.34.
Get Our Latest Stock Report on Microsoft
Microsoft Company Profile
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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