Spinnaker Investment Group LLC Raises Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Spinnaker Investment Group LLC increased its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 288.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,833 shares of the software giant’s stock after buying an additional 36,254 shares during the quarter. Microsoft accounts for about 5.1% of Spinnaker Investment Group LLC’s holdings, making the stock its 6th biggest holding. Spinnaker Investment Group LLC’s holdings in Microsoft were worth $21,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its stake in shares of Microsoft by 48,526.1% in the third quarter. International Assets Investment Management LLC now owns 38,501,645 shares of the software giant’s stock valued at $16,567,258,000 after buying an additional 38,422,466 shares during the period. Ameriprise Financial Inc. grew its holdings in Microsoft by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 34,511,544 shares of the software giant’s stock worth $15,426,767,000 after purchasing an additional 97,075 shares during the period. Dimensional Fund Advisors LP increased its stake in Microsoft by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 24,091,789 shares of the software giant’s stock valued at $10,768,771,000 after purchasing an additional 1,563,533 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Microsoft by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,388,106 shares of the software giant’s stock worth $7,912,402,000 after acquiring an additional 251,408 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Microsoft by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 15,651,058 shares of the software giant’s stock worth $6,734,651,000 after purchasing an additional 501,954 shares in the last quarter. 71.13% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Christopher David Young sold 7,200 shares of Microsoft stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $423.66, for a total transaction 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 $43,792,039.56. This trade represents a 6.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Judson Althoff sold 25,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $417.00, for a total value of $10,425,000.00. Following the transaction, the executive vice president now directly owns 117,294 shares in the company, valued at $48,911,598. The trade was a 17.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,200 shares of company stock worth $17,383,892 over the last quarter. Insiders own 0.03% of the company’s stock.

Microsoft Stock Performance

Shares of MSFT stock opened at $446.20 on Thursday. The firm has a market capitalization of $3.32 trillion, a PE ratio of 36.82, a P/E/G ratio of 2.28 and a beta of 0.90. The company has a 50 day moving average price of $429.65 and a 200-day moving average price of $425.70. Microsoft Co. has a 52 week low of $385.58 and a 52 week high of $468.35. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 0.15.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.20. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The company had revenue of $65.59 billion during the quarter, compared to analyst estimates of $64.57 billion. During the same period in the previous year, the business posted $2.99 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts expect that Microsoft Co. will post 12.92 earnings per share for the current year.

Microsoft Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Thursday, February 20th. Microsoft’s dividend payout ratio (DPR) is 27.39%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MSFT. JPMorgan Chase & Co. decreased their price target on Microsoft from $470.00 to $465.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. KeyCorp increased their price target on Microsoft from $490.00 to $505.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. The Goldman Sachs Group cut their price target on Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Cantor Fitzgerald began coverage on Microsoft in a research report on Friday, January 17th. They set an “overweight” rating and a $509.00 target price for the company. Finally, Truist Financial reissued a “buy” rating and issued a $600.00 price target on shares of Microsoft in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $512.66.

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.