Estabrook Capital Management Sells 2,792 Shares of Microsoft Co. (NASDAQ:MSFT)

Estabrook Capital Management cut its position in shares of Microsoft Co. (NASDAQ:MSFT) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 178,804 shares of the software giant’s stock after selling 2,792 shares during the quarter. Microsoft accounts for 12.3% of Estabrook Capital Management’s portfolio, making the stock its biggest holding. Estabrook Capital Management’s holdings in Microsoft were worth $79,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc grew its position in Microsoft by 169.2% during the second quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after buying an additional 44 shares in the last quarter. Innealta Capital LLC acquired a new stake in Microsoft during the second quarter worth about $75,000. Bellevue Group AG grew its position in Microsoft by 47.5% during the first quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after buying an additional 58 shares in the last quarter. 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 worth $169,000 after buying an additional 268 shares in the last quarter. Finally, MayTech Global Investments LLC acquired a new stake in Microsoft during the second quarter worth about $200,000. 71.13% of the stock is owned by institutional investors and hedge funds.

Microsoft Stock Down 0.7 %

NASDAQ:MSFT opened at $422.54 on Friday. The stock’s fifty day moving average price is $421.09 and its two-hundred day moving average price is $424.95. Microsoft Co. has a 52-week low of $360.36 and a 52-week high of $468.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.29 and a current ratio of 1.30. The company has a market cap of $3.14 trillion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 2.23 and a beta of 0.91.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 earnings per share (EPS) 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 firm had revenue of $65.59 billion for the quarter, compared to the consensus estimate of $64.57 billion. During the same quarter in the prior year, the business earned $2.99 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, analysts anticipate that Microsoft Co. will post 12.94 EPS for the current year.

Microsoft announced that its board has approved a share buyback plan on Monday, September 16th that permits the company to repurchase $60.00 billion in shares. This repurchase authorization permits the software giant to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Microsoft Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.83 per share. This is an increase from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.32 annualized dividend and a yield of 0.79%. Microsoft’s dividend payout ratio is currently 24.75%.

Insider Activity

In other news, CMO Takeshi Numoto sold 2,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $411.04, for a total value of $1,027,600.00. Following the transaction, the chief marketing officer now owns 50,000 shares of the company’s stock, valued at $20,552,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Satya Nadella sold 78,353 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total value of $32,017,386.39. Following the transaction, the chief executive officer now owns 864,327 shares of the company’s stock, valued at $353,189,942.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Takeshi Numoto sold 2,500 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total value of $1,027,600.00. Following the completion of the transaction, the chief marketing officer now directly owns 50,000 shares in the company, valued at approximately $20,552,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 190,629 shares of company stock valued at $77,916,485 in the last 90 days. 0.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MSFT. Piper Sandler reaffirmed an “overweight” rating and set a $470.00 price objective on shares of Microsoft in a report on Thursday, October 31st. Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective on shares of Microsoft in a report on Monday, October 28th. JPMorgan Chase & Co. decreased their price objective on Microsoft from $470.00 to $465.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Sanford C. Bernstein decreased their price objective on Microsoft from $501.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Mizuho lifted their price objective on Microsoft from $450.00 to $480.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $503.03.

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.