Hixon Zuercher LLC Has $7.58 Million Stock Position in Microsoft Co. (NASDAQ:MSFT)

Hixon Zuercher LLC lessened its stake in Microsoft Co. (NASDAQ:MSFT) by 19.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,957 shares of the software giant’s stock after selling 4,011 shares during the period. Microsoft makes up about 3.2% of Hixon Zuercher LLC’s holdings, making the stock its 9th biggest holding. Hixon Zuercher LLC’s holdings in Microsoft were worth $7,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc grew its position in Microsoft by 169.2% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after acquiring an additional 44 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Microsoft during the fourth quarter worth about $58,000. Richardson Capital Management LLC grew its stake in shares of Microsoft by 1,290.0% in the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after purchasing an additional 129 shares during the last quarter. Innealta Capital LLC purchased a new position in Microsoft during the 2nd quarter valued at about $75,000. Finally, Bellevue Group AG lifted 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 buying an additional 58 shares during the period. Institutional investors own 71.13% of the company’s stock.

Microsoft Trading Down 0.4 %

Shares of MSFT stock opened at $415.84 on Friday. Microsoft Co. has a 1 year low of $324.39 and a 1 year high of $468.35. The firm has a fifty day moving average price of $417.79 and a 200-day moving average price of $424.74. The company has a market cap of $3.09 trillion, a price-to-earnings ratio of 36.00, a PEG ratio of 2.30 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.27 and a quick ratio of 1.27.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Tuesday, July 30th. The software giant reported $2.95 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 the consensus estimate of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.69 earnings per share. As a group, equities analysts predict that Microsoft Co. will post 13.04 earnings per share for the current year.

Microsoft declared that its board has approved a stock repurchase program on Monday, September 16th that authorizes the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization authorizes the software giant to buy up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Microsoft Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.83 dividend. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, November 21st. Microsoft’s dividend payout ratio is presently 28.74%.

Insider Transactions at Microsoft

In related news, CMO Takeshi Numoto sold 2,500 shares of Microsoft stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total transaction of $1,027,600.00. Following the transaction, the chief marketing officer now owns 50,000 shares in the company, valued at approximately $20,552,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Satya Nadella sold 78,353 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the completion of the sale, the chief executive officer now owns 864,327 shares in the company, valued at approximately $353,189,942.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Takeshi Numoto sold 2,500 shares of Microsoft stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total value of $1,027,600.00. Following the sale, the chief marketing officer now directly owns 50,000 shares in the company, valued at $20,552,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 190,629 shares of company stock valued at $77,916,485 over the last three months. Corporate insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America upped their target price on Microsoft from $480.00 to $510.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. BMO Capital Markets raised their target price on shares of Microsoft from $465.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Wedbush reiterated an “outperform” rating and set a $550.00 price target on shares of Microsoft in a research report on Wednesday, July 31st. Argus raised their price objective on shares of Microsoft from $475.00 to $526.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Citigroup reduced their target price on Microsoft from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $493.47.

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.