Phraction Management LLC Sells 59 Shares of Microsoft Co. (NASDAQ:MSFT)

Phraction Management LLC cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,376 shares of the software giant’s stock after selling 59 shares during the quarter. Microsoft accounts for approximately 8.2% of Phraction Management LLC’s holdings, making the stock its biggest position. Phraction Management LLC’s holdings in Microsoft were worth $22,516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MSFT. Christopher J. Hasenberg Inc raised its stake in shares of 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 buying an additional 44 shares in the last quarter. Richardson Capital Management LLC grew its holdings in Microsoft by 1,290.0% during the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after acquiring an additional 129 shares during the period. Innealta Capital LLC purchased a new position in Microsoft in the second quarter worth $75,000. Bellevue Group AG grew its stake in shares of Microsoft by 47.5% during 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. Finally, Horizon Financial Services LLC purchased a new position in shares of Microsoft in the 1st quarter valued at about $80,000. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Microsoft Price Performance

Microsoft stock opened at $418.74 on Wednesday. The business’s 50-day simple moving average is $418.79 and its 200 day simple moving average is $424.65. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.11 trillion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 2.22 and a beta of 0.90. Microsoft Co. has a 12-month low of $324.39 and a 12-month high of $468.35.

Microsoft (NASDAQ:MSFT) last issued its earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.05. The company had revenue of $64.73 billion for the quarter, compared to analyst estimates of $64.38 billion. Microsoft had a net margin of 35.96% and a return on equity of 35.95%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.69 EPS. As a group, research analysts anticipate that Microsoft Co. will post 13.02 earnings per share for the current year.

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

Microsoft Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid 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 0.79%. This is an increase from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s dividend payout ratio is 28.74%.

Insiders Place Their Bets

In other news, insider Bradford L. Smith sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $402.59, for a total transaction of $16,103,600.00. Following the sale, the insider now owns 544,847 shares of the company’s stock, valued at $219,349,953.73. 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 is available through this hyperlink. In other Microsoft news, CMO Takeshi Numoto sold 2,500 shares of the company’s stock in a transaction 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 transaction, the chief marketing officer now directly owns 50,000 shares in the company, valued at $20,552,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradford L. Smith sold 40,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $402.59, for a total value of $16,103,600.00. Following the transaction, the insider now owns 544,847 shares in the company, valued at approximately $219,349,953.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 190,629 shares of company stock worth $77,916,485. Insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

MSFT has been the topic of a number of research analyst reports. Citigroup decreased their price objective on shares of Microsoft from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wedbush reissued an “outperform” rating and issued a $550.00 target price on shares of Microsoft in a report on Wednesday, July 31st. BMO Capital Markets boosted their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $500.00 target price on shares of Microsoft in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group dropped their price objective on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to data from MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and a consensus target price of $493.47.

Microsoft 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.