CORDA Investment Management LLC. Purchases 341 Shares of Microsoft Co. (NASDAQ:MSFT)

CORDA Investment Management LLC. grew its stake in Microsoft Co. (NASDAQ:MSFT) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,113 shares of the software giant’s stock after purchasing an additional 341 shares during the period. CORDA Investment Management LLC.’s holdings in Microsoft were worth $10,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc increased 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 acquiring an additional 44 shares in the last quarter. Quarry LP purchased a new position in Microsoft during the 2nd quarter worth $45,000. Innealta Capital LLC purchased a new position in Microsoft during the 2nd quarter worth $75,000. Carolina Wealth Advisors LLC boosted its holdings in shares of Microsoft by 10.1% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 338 shares of the software giant’s stock worth $145,000 after buying an additional 31 shares during the last quarter. Finally, Bbjs Financial Advisors LLC grew its position in Microsoft by 241.4% during the second 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. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Trading Up 1.1 %

Shares of NASDAQ:MSFT opened at $423.35 on Friday. The stock has a 50 day moving average of $428.62 and a 200 day moving average of $428.35. The company has a market cap of $3.15 trillion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.37 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 Co. has a 12-month low of $366.50 and a 12-month high of $468.35.

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

Microsoft Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.32 annualized dividend and a dividend yield of 0.78%. Microsoft’s dividend payout ratio (DPR) is 27.39%.

Microsoft announced that its Board of Directors has approved a stock repurchase 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on MSFT. Morgan Stanley increased their target price on shares of Microsoft from $506.00 to $548.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Loop Capital lifted their price target on shares of Microsoft from $500.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Mizuho raised their target price on shares of Microsoft from $480.00 to $510.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. TD Cowen cut their price target on shares of Microsoft from $495.00 to $475.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Piper Sandler restated an “overweight” rating and set a $470.00 target price on shares of Microsoft in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $509.90.

Insider Activity at Microsoft

In other Microsoft news, CMO Takeshi Numoto sold 1,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $414.72, for a total value of $414,720.00. Following the sale, the chief marketing officer now owns 57,511 shares in the company, valued at $23,850,961.92. This trade represents 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 this hyperlink. Also, EVP Judson Althoff sold 25,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $417.00, for a total value of $10,425,000.00. Following the transaction, the executive vice president now directly owns 117,294 shares in the company, valued at $48,911,598. The trade was a 17.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,200 shares of company stock worth $17,383,892. Company insiders own 0.03% of the company’s stock.

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.