Microsoft Co. (NASDAQ:MSFT) is Corundum Group Inc.’s 8th Largest Position

Corundum Group Inc. lessened its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 9.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,275 shares of the software giant’s stock after selling 1,817 shares during the period. Microsoft accounts for approximately 3.4% of Corundum Group Inc.’s investment portfolio, making the stock its 8th biggest position. Corundum Group Inc.’s holdings in Microsoft were worth $7,433,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc grew 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 buying an additional 44 shares during the period. Quarry LP purchased a new stake in shares of Microsoft in the 2nd quarter valued at approximately $45,000. Innealta Capital LLC purchased a new stake in shares of Microsoft in the 2nd quarter valued at approximately $75,000. Bellevue Group AG grew its stake in shares of Microsoft by 47.5% in the 1st 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 grew its stake in shares of Microsoft by 241.4% in the 2nd quarter. Bbjs Financial Advisors LLC now owns 379 shares of the software giant’s stock valued at $169,000 after buying an additional 268 shares during the period. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Insider Buying and Selling at Microsoft

In related news, EVP Judson Althoff sold 25,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $417.00, for a total value of $10,425,000.00. Following the completion of the sale, the executive vice president now owns 117,294 shares in the company, valued at $48,911,598. This represents a 17.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Takeshi Numoto sold 1,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $414.72, for a total transaction of $414,720.00. Following the completion of the sale, the chief marketing officer now owns 57,511 shares of the company’s stock, valued at approximately $23,850,961.92. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,200 shares of company stock worth $17,383,892. 0.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MSFT shares. Piper Sandler reissued an “overweight” rating and issued a $470.00 price target on shares of Microsoft in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of Microsoft from $470.00 to $465.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. UBS Group lowered their price objective on shares of Microsoft from $510.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. DA Davidson cut shares of Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 price objective for the company. in a research report on Monday, September 23rd. Finally, Oppenheimer cut shares of Microsoft from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $505.43.

Microsoft Price Performance

Shares of MSFT opened at $447.27 on Friday. Microsoft Co. has a twelve month low of $364.13 and a twelve month high of $468.35. The firm’s fifty day simple moving average is $424.16 and its 200-day simple moving average is $427.64. The firm has a market capitalization of $3.33 trillion, a price-to-earnings ratio of 36.90, a PEG ratio of 2.38 and a beta of 0.90. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15.

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

Microsoft announced that its board has approved a stock repurchase plan on Monday, September 16th that allows the company to repurchase $60.00 billion in shares. This repurchase authorization allows the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Microsoft Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.32 dividend on an annualized basis and a yield of 0.74%. Microsoft’s dividend payout ratio is presently 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.