Hodges Capital Management Inc. Sells 1,408 Shares of Microsoft Co. (NASDAQ:MSFT)

Hodges Capital Management Inc. lessened its stake in Microsoft Co. (NASDAQ:MSFT) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,084 shares of the software giant’s stock after selling 1,408 shares during the quarter. Microsoft makes up approximately 1.9% of Hodges Capital Management Inc.’s portfolio, making the stock its 11th biggest holding. Hodges Capital Management Inc.’s holdings in Microsoft were worth $27,748,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc boosted its stake in Microsoft by 169.2% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after purchasing an additional 44 shares during the period. Richardson Capital Management LLC increased its holdings 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 worth $59,000 after buying an additional 129 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Microsoft during the 2nd quarter valued at $75,000. Bellevue Group AG lifted its holdings 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 acquiring an additional 58 shares during the last quarter. Finally, Horizon Financial Services LLC purchased a new position in Microsoft in the first quarter worth $80,000. 71.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets raised their price target on Microsoft from $465.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Morgan Stanley restated an “overweight” rating and issued a $506.00 target price on shares of Microsoft in a research report on Tuesday, September 17th. Wedbush reissued an “outperform” rating and set a $550.00 price target on shares of Microsoft in a research note on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $485.00 price objective on shares of Microsoft in a research note on Wednesday, July 31st. Finally, TD Cowen lifted their target price on shares of Microsoft from $470.00 to $495.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Three analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $495.68.

Insider Buying and Selling

In other Microsoft news, CEO Satya Nadella sold 78,353 shares of Microsoft stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total value of $32,017,386.39. Following the completion of the sale, the chief executive officer now owns 864,327 shares of the company’s stock, valued at approximately $353,189,942.01. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Bradford L. Smith sold 40,000 shares of Microsoft stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $402.59, for a total value of $16,103,600.00. Following the completion of the sale, the insider now directly owns 544,847 shares in the company, valued at $219,349,953.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Satya Nadella sold 78,353 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 190,629 shares of company stock worth $77,916,485 in the last three months. Insiders own 0.03% of the company’s stock.

Microsoft Stock Up 0.1 %

NASDAQ:MSFT opened at $416.72 on Friday. Microsoft Co. has a 1-year low of $324.39 and a 1-year high of $468.35. The firm’s 50-day moving average price is $419.42 and its 200-day moving average price is $424.54. The company has a market capitalization of $3.10 trillion, a PE ratio of 36.08, a P/E/G ratio of 2.22 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 announced its quarterly earnings data on Tuesday, July 30th. The software giant reported $2.95 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 the consensus estimate of $64.38 billion. Microsoft had a net margin of 35.96% and a return on equity of 35.95%. Microsoft’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.69 EPS. On average, equities analysts predict that Microsoft Co. will post 13.02 EPS for the current fiscal year.

Microsoft Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.83 per share. The ex-dividend date is Thursday, November 21st. This represents a $3.32 annualized dividend and a dividend yield of 0.80%. This is an increase from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s dividend payout ratio (DPR) is 28.74%.

Microsoft declared that its board has authorized a stock repurchase plan on Monday, September 16th that permits the company to buyback $60.00 billion in outstanding shares. This buyback authorization permits the software giant to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.