New Millennium Group LLC Has $20.45 Million Position in Microsoft Co. (NASDAQ:MSFT)

New Millennium Group LLC lifted its holdings in Microsoft Co. (NASDAQ:MSFT) by 16.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,526 shares of the software giant’s stock after buying an additional 6,860 shares during the period. Microsoft comprises 13.2% of New Millennium Group LLC’s holdings, making the stock its largest holding. New Millennium Group LLC’s holdings in Microsoft were worth $20,450,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc grew its holdings in shares of Microsoft by 169.2% in the second quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after purchasing an additional 44 shares during the last quarter. Quarry LP purchased a new stake in Microsoft in the 2nd quarter valued at about $45,000. MidAtlantic Capital Management Inc. bought a new position in Microsoft in the 3rd quarter worth about $62,000. Innealta Capital LLC purchased a new position in shares of Microsoft during the second quarter worth approximately $75,000. Finally, Carolina Wealth Advisors LLC raised its stake in shares of Microsoft by 10.1% during the third quarter. Carolina Wealth Advisors LLC now owns 338 shares of the software giant’s stock valued at $145,000 after acquiring an additional 31 shares in the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MSFT has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on Microsoft in a report on Friday, January 17th. They issued an “overweight” rating and a $509.00 price objective for the company. Loop Capital upped their price target on shares of Microsoft from $500.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. KeyCorp lifted their price objective on shares of Microsoft from $490.00 to $505.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Oppenheimer lowered Microsoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 8th. Finally, Piper Sandler lifted their price target on Microsoft from $470.00 to $520.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $512.66.

Microsoft Trading Down 0.6 %

Shares of Microsoft stock opened at $444.06 on Friday. The company’s fifty day moving average price is $431.05 and its two-hundred day moving average price is $425.82. The firm has a market capitalization of $3.30 trillion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 2.40 and a beta of 0.90. Microsoft Co. has a 52-week low of $385.58 and a 52-week 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 issued its earnings results on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, beating the consensus estimate of $3.10 by $0.20. The company had revenue of $65.59 billion for the quarter, compared to the consensus estimate of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.99 EPS. On average, analysts expect that Microsoft Co. will post 12.9 EPS for the current year.

Microsoft Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders 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 yield of 0.75%. Microsoft’s dividend payout ratio is currently 27.39%.

Insiders Place Their Bets

In other Microsoft news, EVP Judson Althoff sold 25,000 shares of Microsoft stock in a transaction dated Friday, November 22nd. The stock was 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. The trade was a 17.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Takeshi Numoto sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $414.72, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders sold 41,200 shares of company stock valued at $17,383,892. 0.03% of the stock is currently owned by insiders.

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.