Microsoft Co. (NASDAQ:MSFT) Shares Sold by Corundum Group Inc.

Corundum Group Inc. reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 2.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 17,645 shares of the software giant’s stock after selling 491 shares during the period. Microsoft makes up 3.6% of Corundum Group Inc.’s investment portfolio, making the stock its 7th biggest position. Corundum Group Inc.’s holdings in Microsoft were worth $7,424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morris Financial Concepts Inc. raised its position in shares of Microsoft by 0.9% in the 4th quarter. Morris Financial Concepts Inc. now owns 2,663 shares of the software giant’s stock valued at $1,001,000 after buying an additional 25 shares in the last quarter. Innova Wealth Partners increased its stake in Microsoft by 0.6% in the fourth quarter. Innova Wealth Partners now owns 4,239 shares of the software giant’s stock valued at $1,594,000 after acquiring an additional 25 shares during the last quarter. Arkansas Financial Group Inc. raised its position in Microsoft by 1.5% during the fourth quarter. Arkansas Financial Group Inc. now owns 1,719 shares of the software giant’s stock valued at $646,000 after purchasing an additional 25 shares in the last quarter. Partnership Wealth Management LLC lifted its stake in Microsoft by 0.4% during the first quarter. Partnership Wealth Management LLC now owns 6,202 shares of the software giant’s stock worth $2,609,000 after purchasing an additional 25 shares during the last quarter. Finally, Sicart Associates LLC boosted its holdings in shares of Microsoft by 2.9% in the 4th quarter. Sicart Associates LLC now owns 926 shares of the software giant’s stock valued at $348,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.

Microsoft Stock Up 0.3 %

Shares of NASDAQ:MSFT opened at $460.77 on Thursday. The business’s 50-day moving average is $426.26 and its 200-day moving average is $411.42. Microsoft Co. has a 1 year low of $309.45 and a 1 year high of $461.02. The company has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 39.89, a P/E/G ratio of 2.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.24 and a quick ratio of 1.23.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, April 25th. The software giant reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.13. The firm had revenue of $61.86 billion for the quarter, compared to analyst estimates of $60.86 billion. Microsoft had a return on equity of 37.54% and a net margin of 36.43%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.45 earnings per share. Equities research analysts predict that Microsoft Co. will post 11.77 earnings per share for the current year.

Microsoft Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, August 15th. Microsoft’s payout ratio is 25.97%.

Insider Buying and Selling at Microsoft

In other news, CMO Takeshi Numoto sold 322 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $416.60, for a total value of $134,145.20. Following the completion of the sale, the chief marketing officer now directly owns 47,255 shares in the company, valued at approximately $19,686,433. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CMO Takeshi Numoto sold 322 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $416.60, for a total transaction of $134,145.20. Following the transaction, the chief marketing officer now directly owns 47,255 shares of the company’s stock, valued at approximately $19,686,433. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Judson Althoff sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $425.68, for a total value of $10,642,000.00. Following the completion of the sale, the executive vice president now directly owns 104,949 shares of the company’s stock, valued at approximately $44,674,690.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,566 shares of company stock valued at $10,877,535. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

MSFT has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Microsoft from $465.00 to $520.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Truist Financial reissued a “buy” rating and issued a $600.00 target price on shares of Microsoft in a report on Monday, June 17th. Jefferies Financial Group lifted their price target on shares of Microsoft from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday, April 1st. DA Davidson reissued a “buy” rating and issued a $500.00 price objective on shares of Microsoft in a research note on Friday, March 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $455.00 target price on shares of Microsoft in a research note on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company. According to data from MarketBeat.com, Microsoft currently has an average rating of “Moderate Buy” and a consensus price target of $467.12.

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.