Microsoft Co. (NASDAQ:MSFT) is Canal Capital Management LLC’s 3rd Largest Position

Canal Capital Management LLC reduced its stake in Microsoft Co. (NASDAQ:MSFT) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,799 shares of the software giant’s stock after selling 534 shares during the period. Microsoft comprises 3.4% of Canal Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Canal Capital Management LLC’s holdings in Microsoft were worth $20,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of MSFT. Christopher J. Hasenberg Inc lifted its position 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 worth $31,000 after purchasing an additional 44 shares during the period. Neo Ivy Capital Management bought a new position in Microsoft in the fourth quarter worth about $58,000. Richardson Capital Management LLC lifted its holdings in Microsoft by 1,290.0% in the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after buying an additional 129 shares during the period. Innealta Capital LLC bought a new stake in Microsoft during the 2nd quarter valued at approximately $75,000. Finally, Bellevue Group AG grew its holdings in shares of Microsoft by 47.5% during the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after acquiring an additional 58 shares during the period. Institutional investors own 71.13% of the company’s stock.

Microsoft Stock Performance

MSFT opened at $415.84 on Friday. The firm’s 50-day moving average price is $417.79 and its 200-day moving average price is $424.74. The company has a market cap of $3.09 trillion, a P/E ratio of 36.00, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.16. Microsoft Co. has a 52-week low of $324.39 and a 52-week high of $468.35.

Microsoft (NASDAQ:MSFT) last released its earnings results on Tuesday, July 30th. The software giant reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.05. The firm had revenue of $64.73 billion during the quarter, compared to the consensus estimate of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.69 earnings per share. As a group, equities analysts anticipate that Microsoft Co. will post 13.04 EPS for the current fiscal year.

Microsoft Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.80%. The ex-dividend date is Thursday, November 21st. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s dividend payout ratio (DPR) is currently 28.74%.

Microsoft declared that its Board of Directors has approved a share repurchase program on Monday, September 16th that permits the company to buyback $60.00 billion in outstanding shares. This buyback authorization permits the software giant to purchase up to 1.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Oppenheimer downgraded Microsoft from an “outperform” rating to a “market perform” rating in a report on Tuesday. Citigroup decreased their price target on shares of Microsoft from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Morgan Stanley reissued an “overweight” rating and set a $506.00 price objective on shares of Microsoft in a research note on Tuesday, September 17th. The Goldman Sachs Group decreased their target price on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday. Finally, DA Davidson lowered shares of Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 target price for the company. in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Based on data from MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and a consensus price target of $493.47.

Insider Buying and Selling at Microsoft

In related news, insider Bradford L. Smith sold 40,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $402.59, for a total value of $16,103,600.00. Following the completion of the transaction, the insider now owns 544,847 shares of the company’s stock, valued at approximately $219,349,953.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Kathleen T. Hogan sold 17,378 shares of Microsoft stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $411.85, for a total transaction of $7,157,129.30. Following the transaction, the executive vice president now owns 150,161 shares in the company, valued at approximately $61,843,807.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bradford L. Smith sold 40,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $402.59, for a total value of $16,103,600.00. Following the completion of the sale, the insider now owns 544,847 shares of the company’s stock, valued at approximately $219,349,953.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 190,629 shares of company stock valued at $77,916,485. Corporate insiders own 0.03% of the company’s stock.

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.