Oliver Luxxe Assets LLC Has $3.62 Million Stock Position in Microsoft Co. (NASDAQ:MSFT)

Oliver Luxxe Assets LLC cut its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,402 shares of the software giant’s stock after selling 84 shares during the period. Oliver Luxxe Assets LLC’s holdings in Microsoft were worth $3,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MSFT. Christopher J. Hasenberg Inc lifted its stake in shares of Microsoft by 169.2% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock valued at $31,000 after purchasing an additional 44 shares during the period. Quarry LP bought a new stake in Microsoft in the second quarter valued at about $45,000. Innealta Capital LLC bought a new stake in Microsoft in the second quarter valued at about $75,000. Bellevue Group AG lifted its stake 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 buying an additional 58 shares during the period. Finally, Bbjs Financial Advisors LLC boosted its holdings in 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 buying an additional 268 shares during the last quarter. Institutional investors own 71.13% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bradford L. Smith sold 40,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 544,847 shares in the company, valued at $219,349,953.73. The trade was a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christopher David Young sold 7,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $423.66, for a total value of $3,050,352.00. Following the completion of the transaction, the executive vice president now directly owns 103,366 shares in the company, valued at $43,792,039.56. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,431 shares of company stock valued at $85,796,688 over the last ninety days. 0.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MSFT has been the topic of several research analyst reports. KeyCorp raised their price objective on Microsoft from $490.00 to $505.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Wedbush reiterated an “outperform” rating and issued a $550.00 price objective on shares of Microsoft in a research report on Tuesday, November 19th. Morgan Stanley raised their target price on shares of Microsoft from $506.00 to $548.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group reduced their price target on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Microsoft in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, Microsoft currently has an average rating of “Moderate Buy” and a consensus price target of $503.03.

Microsoft Stock Performance

Shares of MSFT opened at $423.46 on Monday. The company has a market cap of $3.15 trillion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 2.25 and a beta of 0.91. The firm has a 50-day moving average of $420.84 and a 200-day moving average of $426.55. Microsoft Co. has a one year low of $362.90 and a one year high of $468.35. 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 posted its quarterly earnings results on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.20. The business had revenue of $65.59 billion during the quarter, compared to analysts’ expectations of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. Microsoft’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted $2.99 earnings per share. As a group, equities analysts forecast that Microsoft Co. will post 12.93 earnings per share for the current year.

Microsoft declared that its board has approved a stock buyback plan on Monday, September 16th that allows the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization allows the software giant to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is 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 issued a dividend of $0.83 per share. This is an increase from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, November 21st. This represents a $3.32 annualized dividend and a yield of 0.78%. Microsoft’s dividend payout ratio (DPR) is currently 27.39%.

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.