InTrack Investment Management Inc Has $9.92 Million Stake in Microsoft Co. (NASDAQ:MSFT)

InTrack Investment Management Inc cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,050 shares of the software giant’s stock after selling 428 shares during the period. Microsoft comprises approximately 7.0% of InTrack Investment Management Inc’s investment portfolio, making the stock its biggest position. InTrack Investment Management Inc’s holdings in Microsoft were worth $9,918,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc increased its holdings in shares of Microsoft by 169.2% during the second 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. Quarry LP acquired a new position in shares of Microsoft during the second quarter worth $45,000. Innealta Capital LLC acquired a new stake in Microsoft in the second quarter valued at $75,000. Bellevue Group AG increased its holdings in Microsoft by 47.5% in the first quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock valued at $76,000 after purchasing an additional 58 shares during the period. Finally, Bbjs Financial Advisors LLC increased its holdings in Microsoft by 241.4% in the second quarter. Bbjs Financial Advisors LLC now owns 379 shares of the software giant’s stock valued at $169,000 after purchasing an additional 268 shares during the period. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Stock Up 0.1 %

Shares of NASDAQ:MSFT opened at $423.46 on Friday. Microsoft Co. has a one year low of $362.90 and a one year high of $468.35. The firm has a fifty day moving average price of $420.84 and a two-hundred day moving average price of $426.46. The company has a market cap of $3.15 trillion, a price-to-earnings ratio of 34.94, a PEG ratio of 2.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.30 and a quick ratio of 1.29.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.20. The firm had revenue of $65.59 billion during the quarter, compared to analyst estimates of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.99 earnings per share. Analysts anticipate that Microsoft Co. will post 12.93 EPS for the current fiscal year.

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

Microsoft Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.83 per share. The ex-dividend date is Thursday, November 21st. This is an increase from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 annualized dividend and a dividend yield of 0.78%. Microsoft’s dividend payout ratio (DPR) is 27.39%.

Insider Transactions at Microsoft

In other Microsoft news, CMO Takeshi Numoto sold 1,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $414.72, for a total value of $414,720.00. Following the completion of the sale, the chief marketing officer now directly owns 57,511 shares of the company’s stock, valued at $23,850,961.92. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Satya Nadella sold 78,353 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $408.63, for a total value of $32,017,386.39. Following the transaction, the chief executive officer now directly owns 864,327 shares in the company, valued at $353,189,942.01. This trade represents a 8.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,431 shares of company stock worth $85,796,688. 0.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MSFT. The Goldman Sachs Group decreased their price objective on Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, October 10th. KeyCorp increased their price objective on Microsoft from $490.00 to $505.00 and gave the company an “overweight” rating in a report on Friday, October 18th. TD Cowen decreased their price objective on Microsoft from $495.00 to $475.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Morgan Stanley upped their price target on shares of Microsoft from $506.00 to $548.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, DA Davidson cut shares of Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 price target on the stock. in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $503.03.

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.