Cardinal Point Capital Management ULC Has $1.06 Million Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Cardinal Point Capital Management ULC lifted its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 78.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,460 shares of the software giant’s stock after buying an additional 1,084 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Microsoft were worth $1,059,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MSFT. Christopher J. Hasenberg Inc raised its stake in 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 in the last quarter. Quarry LP acquired a new stake in Microsoft in the 2nd quarter worth about $45,000. Innealta Capital LLC acquired a new stake in Microsoft in the 2nd quarter worth about $75,000. Bellevue Group AG raised its stake in Microsoft by 47.5% in the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after purchasing an additional 58 shares in the last quarter. Finally, Bbjs Financial Advisors LLC raised its stake in Microsoft by 241.4% in the 2nd quarter. Bbjs Financial Advisors LLC now owns 379 shares of the software giant’s stock worth $169,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.

Microsoft Trading Up 1.0 %

MSFT opened at $417.00 on Friday. Microsoft Co. has a fifty-two week low of $362.90 and a fifty-two 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. The firm has a market capitalization of $3.10 trillion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.21 and a beta of 0.91. The company’s 50 day moving average price is $421.94 and its two-hundred day moving average price is $426.07.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.20. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The firm had revenue of $65.59 billion for the quarter, compared to analyst estimates of $64.57 billion. During the same period in the previous year, the firm posted $2.99 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Microsoft Co. will post 12.94 earnings per share for the current year.

Microsoft declared that its board has initiated a share buyback plan on Monday, September 16th that authorizes the company to buyback $60.00 billion in outstanding shares. This buyback authorization authorizes the software giant to buy up to 1.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership 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 issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, November 21st. Microsoft’s payout ratio is presently 24.75%.

Insider Transactions at Microsoft

In other news, CMO Takeshi Numoto sold 2,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief marketing officer now owns 50,000 shares in the company, valued at approximately $20,552,000. The trade was a 4.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Satya Nadella sold 78,353 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the completion of the transaction, the chief executive officer now owns 864,327 shares in the company, valued at $353,189,942.01. This trade represents a 8.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 183,431 shares of company stock worth $74,956,968. Company insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MSFT shares. Wedbush reiterated an “outperform” rating and issued a $550.00 price objective on shares of Microsoft in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 target price on shares of Microsoft in a report on Tuesday, November 5th. Sanford C. Bernstein decreased their target price on shares of Microsoft from $501.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. TD Cowen decreased their target price on shares of Microsoft from $495.00 to $475.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Oppenheimer lowered shares of Microsoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, Microsoft currently has a consensus rating of “Moderate Buy” and an average price target of $503.03.

Microsoft 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.