Microsoft Co. (NASDAQ:MSFT) is MidWestOne Financial Group Inc.’s 3rd Largest Position

MidWestOne Financial Group Inc. reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,460 shares of the software giant’s stock after selling 141 shares during the quarter. Microsoft makes up approximately 2.5% of MidWestOne Financial Group Inc.’s portfolio, making the stock its 3rd largest position. MidWestOne Financial Group Inc.’s holdings in Microsoft were worth $13,614,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kathmere Capital Management LLC raised its holdings in shares of Microsoft by 11.7% during the 2nd quarter. Kathmere Capital Management LLC now owns 22,080 shares of the software giant’s stock valued at $9,869,000 after purchasing an additional 2,306 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its holdings in Microsoft by 13.0% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 29,214 shares of the software giant’s stock valued at $13,057,000 after purchasing an additional 3,353 shares during the last quarter. Texas Capital Bancshares Inc TX raised its position in shares of Microsoft by 3.9% in the second quarter. Texas Capital Bancshares Inc TX now owns 5,415 shares of the software giant’s stock valued at $2,420,000 after purchasing an additional 204 shares during the period. Goodman Advisory Group LLC lifted its stake in shares of Microsoft by 12.5% in the second quarter. Goodman Advisory Group LLC now owns 28,391 shares of the software giant’s stock worth $12,689,000 after buying an additional 3,153 shares during the last quarter. Finally, Core Wealth Advisors Inc. boosted its holdings in shares of Microsoft by 18.9% during the 2nd quarter. Core Wealth Advisors Inc. now owns 1,848 shares of the software giant’s stock worth $826,000 after buying an additional 294 shares during the period. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Microsoft Price Performance

Shares of MSFT stock opened at $425.20 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 35.08, a PEG ratio of 2.24 and a beta of 0.91. The firm’s 50 day moving average is $421.38 and its 200-day moving average is $425.44. Microsoft Co. has a 1 year low of $362.90 and a 1 year high of $468.35.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.20. The firm had revenue of $65.59 billion for the quarter, compared to analyst estimates of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company earned $2.99 EPS. Sell-side analysts forecast that Microsoft Co. will post 12.94 EPS for the current fiscal year.

Microsoft declared that its board has authorized a share repurchase plan on Monday, September 16th that allows the company to repurchase $60.00 billion in shares. This repurchase authorization allows the software giant to reacquire up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Microsoft Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.83 per share. This is a boost 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 dividend yield of 0.78%. Microsoft’s payout ratio is presently 24.75%.

Insider Activity

In related news, EVP Christopher David Young sold 7,200 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total value of $3,050,352.00. Following the completion of the sale, the executive vice president now owns 103,366 shares in the company, valued at approximately $43,792,039.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Christopher David Young sold 7,200 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $423.66, for a total value of $3,050,352.00. Following the completion of the transaction, the executive vice president now owns 103,366 shares of the company’s stock, valued at $43,792,039.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Satya Nadella sold 78,353 shares of the firm’s 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 sale, the chief executive officer now directly owns 864,327 shares in the company, valued at $353,189,942.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,829 shares of company stock valued at $80,966,837 in the last 90 days. 0.03% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on MSFT shares. BMO Capital Markets decreased their target price on Microsoft from $500.00 to $495.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 price target on shares of Microsoft in a report on Tuesday, November 5th. Truist Financial restated a “buy” rating and set a $600.00 price objective on shares of Microsoft in a report on Monday, October 28th. The Goldman Sachs Group decreased their target price on Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, Morgan Stanley upped their price target on Microsoft from $506.00 to $548.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. 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 stock. Based on data from MarketBeat, the company has a consensus 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.