Hohimer Wealth Management LLC Sells 2,679 Shares of Microsoft Co. (NASDAQ:MSFT)

Hohimer Wealth Management LLC cut its stake in Microsoft Co. (NASDAQ:MSFT) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,454 shares of the software giant’s stock after selling 2,679 shares during the period. Microsoft comprises approximately 6.4% of Hohimer Wealth Management LLC’s holdings, making the stock its largest holding. Hohimer Wealth Management LLC’s holdings in Microsoft were worth $29,886,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Soltis Investment Advisors LLC raised its stake in shares of Microsoft by 4.1% in the third quarter. Soltis Investment Advisors LLC now owns 146,290 shares of the software giant’s stock valued at $62,949,000 after acquiring an additional 5,817 shares during the last quarter. Main Line Retirement Advisors LLC lifted its stake in shares of Microsoft by 1.9% during the third quarter. Main Line Retirement Advisors LLC now owns 2,616 shares of the software giant’s stock valued at $1,126,000 after acquiring an additional 48 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Microsoft by 4.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 124,974 shares of the software giant’s stock valued at $53,776,000 after purchasing an additional 5,192 shares during the last quarter. Hobbs Group Advisors LLC boosted its stake in Microsoft by 1.7% in the third quarter. Hobbs Group Advisors LLC now owns 5,483 shares of the software giant’s stock valued at $2,320,000 after acquiring an additional 92 shares during the last quarter. Finally, Fortem Financial Group LLC boosted its position in shares of Microsoft by 0.4% in the 3rd quarter. Fortem Financial Group LLC now owns 11,705 shares of the software giant’s stock worth $5,037,000 after purchasing an additional 48 shares during the last quarter. 71.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

MSFT has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of Microsoft from $500.00 to $497.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. TD Cowen decreased their price objective on Microsoft from $495.00 to $475.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Sanford C. Bernstein lowered their price target on shares of Microsoft from $501.00 to $500.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wedbush reiterated an “outperform” rating and set a $550.00 price objective on shares of Microsoft in a research note on Tuesday, November 19th. Finally, Loop Capital upped their target price on shares of Microsoft from $500.00 to $550.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $510.96.

Insider Buying and Selling

In other Microsoft news, CMO Takeshi Numoto sold 2,500 shares of Microsoft stock in a transaction on Monday, December 9th. The shares were sold at an average price of $447.41, for a total value of $1,118,525.00. Following the completion of the sale, the chief marketing officer now directly owns 49,352 shares of the company’s stock, valued at approximately $22,080,578.32. The trade was a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Judson Althoff sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 117,294 shares of the company’s stock, valued at $48,911,598. The trade was a 17.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,000 shares of company stock valued at $14,333,540 over the last ninety days. 0.03% of the stock is owned by company insiders.

Microsoft Stock Down 0.6 %

Shares of NASDAQ MSFT opened at $409.04 on Thursday. The company has a market cap of $3.04 trillion, a price-to-earnings ratio of 32.93, a PEG ratio of 2.21 and a beta of 0.90. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $430.67 and a two-hundred day moving average price of $423.24. Microsoft Co. has a 12 month low of $385.58 and a 12 month high of $468.35.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, January 29th. The software giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.15 by $0.08. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. During the same period in the prior year, the firm earned $2.93 earnings per share. As a group, analysts forecast that Microsoft Co. will post 13.07 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The business also recently announced 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. This represents a $3.32 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, February 20th. Microsoft’s payout ratio is presently 26.73%.

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.