Microsoft Co. (NASDAQ:MSFT) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management cut its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,325 shares of the software giant’s stock after selling 497 shares during the period. Microsoft makes up approximately 4.9% of Chesapeake Wealth Management’s holdings, making the stock its biggest position. Chesapeake Wealth Management’s holdings in Microsoft were worth $13,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MSFT. Christopher J. Hasenberg Inc grew its stake in Microsoft by 169.2% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock valued at $31,000 after acquiring an additional 44 shares in the last quarter. Innealta Capital LLC acquired a new position in Microsoft in the 2nd quarter valued at approximately $75,000. Bellevue Group AG grew 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 valued at $76,000 after acquiring an additional 58 shares in the last quarter. Bbjs Financial Advisors LLC raised its holdings in shares of Microsoft by 241.4% during the second quarter. Bbjs Financial Advisors LLC now owns 379 shares of the software giant’s stock worth $169,000 after acquiring an additional 268 shares in the last quarter. Finally, MayTech Global Investments LLC acquired a new stake in Microsoft during the second quarter valued at $200,000. 71.13% of the stock is owned by institutional investors and hedge funds.

Microsoft Stock Up 1.2 %

Shares of NASDAQ:MSFT opened at $425.43 on Friday. Microsoft Co. has a 12 month low of $360.36 and a 12 month high of $468.35. The company’s 50-day moving average price is $420.74 and its two-hundred day moving average price is $424.80. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.16 trillion, a P/E ratio of 35.10, a P/E/G ratio of 2.16 and a beta of 0.91.

Microsoft (NASDAQ:MSFT) last issued its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.20. The company had revenue of $65.59 billion for the quarter, compared to analyst estimates of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.99 EPS. As a group, research analysts forecast that Microsoft Co. will post 12.95 EPS for the current fiscal year.

Microsoft Increases Dividend

The firm also recently announced 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. This represents a $3.32 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s dividend payout ratio (DPR) is 27.39%.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MSFT shares. Wedbush reiterated an “underperform” rating on shares of Microsoft in a report on Friday, October 18th. Mizuho lifted their price target on shares of Microsoft from $450.00 to $480.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Oppenheimer downgraded shares of Microsoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and set a $470.00 price objective on shares of Microsoft in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their target price on shares of Microsoft from $470.00 to $465.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $503.03.

Insider Activity

In other news, insider Bradford L. Smith sold 40,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 544,847 shares of the company’s stock, valued at approximately $219,349,953.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Amy Hood sold 38,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 496,369 shares in the company, valued at $203,784,292.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bradford L. Smith sold 40,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $402.59, for a total transaction of $16,103,600.00. Following the completion of the sale, the insider now owns 544,847 shares in the company, valued at $219,349,953.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 190,629 shares of company stock valued at $77,916,485. 0.03% of the stock is currently owned by insiders.

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.