Microsoft Co. (NASDAQ:MSFT) Shares Sold by Legacy CG LLC

Legacy CG LLC trimmed its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,351 shares of the software giant’s stock after selling 459 shares during the period. Microsoft comprises 2.3% of Legacy CG LLC’s holdings, making the stock its 13th largest position. Legacy CG LLC’s holdings in Microsoft were worth $6,861,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new position in shares of Microsoft in the fourth quarter worth about $58,000. Richardson Capital Management LLC increased its stake in shares of Microsoft by 1,290.0% in the 1st quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock valued at $59,000 after purchasing an additional 129 shares in the last quarter. Bellevue Group AG raised its holdings in Microsoft by 47.5% in the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after purchasing an additional 58 shares during the period. Horizon Financial Services LLC purchased a new position in Microsoft during the first quarter worth approximately $80,000. Finally, Cooksen Wealth LLC acquired a new stake in Microsoft in the fourth quarter valued at approximately $86,000. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Microsoft news, CEO Satya Nadella sold 14,398 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $417.41, for a total value of $6,009,869.18. Following the completion of the transaction, the chief executive officer now owns 786,933 shares of the company’s stock, valued at approximately $328,473,703.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Microsoft news, CEO Satya Nadella sold 14,398 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $417.41, for a total value of $6,009,869.18. Following the sale, the chief executive officer now owns 786,933 shares of the company’s stock, valued at approximately $328,473,703.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy Hood sold 38,000 shares of Microsoft stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $410.55, for a total value of $15,600,900.00. Following the completion of the transaction, the chief financial officer now owns 496,369 shares of the company’s stock, valued at approximately $203,784,292.95. The disclosure for this sale can be found here. Insiders have sold a total of 190,629 shares of company stock valued at $77,916,485 in the last ninety days. Company insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. New Street Research began coverage on shares of Microsoft in a research note on Monday, June 10th. They issued a “buy” rating and a $570.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 price objective on shares of Microsoft in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price target on Microsoft from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Mizuho lifted their target price on shares of Microsoft from $450.00 to $480.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, Citigroup lowered their price target on shares of Microsoft from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $494.72.

Microsoft Stock Down 0.8 %

NASDAQ:MSFT opened at $435.27 on Monday. Microsoft Co. has a 52 week low of $309.45 and a 52 week high of $468.35. The stock’s fifty day moving average is $420.92 and its two-hundred day moving average is $424.33. The stock has a market capitalization of $3.24 trillion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.90. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.16.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.05. The firm had revenue of $64.73 billion for the quarter, compared to analyst estimates of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. Microsoft’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.69 EPS. Research analysts anticipate that Microsoft Co. will post 13.04 EPS for the current year.

Microsoft announced that its Board of Directors has approved a share buyback plan on Monday, September 16th that permits the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization permits the software giant to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Microsoft Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.83 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s payout ratio is 25.97%.

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.