Veery Capital LLC Sells 32 Shares of Microsoft Co. (NASDAQ:MSFT)

Veery Capital LLC reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,183 shares of the software giant’s stock after selling 32 shares during the quarter. Microsoft accounts for approximately 0.7% of Veery Capital LLC’s portfolio, making the stock its 24th largest holding. Veery Capital LLC’s holdings in Microsoft were worth $1,800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. First National Bank Sioux Falls grew its position in Microsoft by 0.4% in the 2nd quarter. First National Bank Sioux Falls now owns 6,340 shares of the software giant’s stock worth $2,834,000 after purchasing an additional 24 shares during the period. BCK Partners Inc. grew its position in Microsoft by 1.8% in the 3rd quarter. BCK Partners Inc. now owns 1,353 shares of the software giant’s stock worth $582,000 after purchasing an additional 24 shares during the period. Massachusetts Wealth Management grew its position in Microsoft by 0.3% in the 2nd quarter. Massachusetts Wealth Management now owns 9,640 shares of the software giant’s stock worth $4,309,000 after purchasing an additional 25 shares during the period. Deseret Mutual Benefit Administrators grew its position in Microsoft by 0.8% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,255 shares of the software giant’s stock worth $1,455,000 after purchasing an additional 25 shares during the period. Finally, Conscious Wealth Investments LLC grew its position in Microsoft by 0.4% in the 2nd quarter. Conscious Wealth Investments LLC now owns 6,986 shares of the software giant’s stock worth $3,108,000 after purchasing an additional 25 shares during the period. 71.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MSFT has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their target price on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Oppenheimer cut shares of Microsoft from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 8th. Wedbush reiterated an “outperform” rating and set a $550.00 price target on shares of Microsoft in a research note on Tuesday, November 19th. Truist Financial reiterated a “buy” rating and set a $600.00 price target on shares of Microsoft in a research note on Monday, October 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 price target on shares of Microsoft in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $512.93.

Insider Transactions at Microsoft

In related news, EVP Judson Althoff sold 25,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $417.00, for a total transaction of $10,425,000.00. Following the transaction, the executive vice president now directly owns 117,294 shares in the company, valued at approximately $48,911,598. This represents a 17.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Takeshi Numoto sold 2,500 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $447.41, for a total transaction of $1,118,525.00. Following the transaction, the chief marketing officer now owns 49,352 shares in the company, valued at $22,080,578.32. The trade was a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,200 shares of company stock worth $17,383,892 in the last three months. Insiders own 0.03% of the company’s stock.

Microsoft Stock Performance

Microsoft stock opened at $428.50 on Wednesday. The company’s 50-day moving average price is $429.54 and its 200-day moving average price is $425.92. Microsoft Co. has a twelve month low of $385.58 and a twelve month high of $468.35. 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 company has a market cap of $3.19 trillion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 2.28 and a beta of 0.90.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.20. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The firm had revenue of $65.59 billion for the quarter, compared to the consensus estimate of $64.57 billion. During the same period in the previous year, the firm posted $2.99 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities research analysts forecast that Microsoft Co. will post 12.92 EPS for the current fiscal year.

Microsoft Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.77%. Microsoft’s dividend payout ratio (DPR) is presently 27.39%.

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.