Cumberland Advisors Inc. Sells 460 Shares of Microsoft Co. (NASDAQ:MSFT)

Cumberland Advisors Inc. reduced its position in Microsoft Co. (NASDAQ:MSFT) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,280 shares of the software giant’s stock after selling 460 shares during the period. Microsoft makes up approximately 3.5% of Cumberland Advisors Inc.’s holdings, making the stock its 8th largest holding. Cumberland Advisors Inc.’s holdings in Microsoft were worth $8,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MSFT. Friedenthal Financial purchased a new stake in shares of Microsoft during the 4th quarter valued at about $45,000. Richardson Capital Management LLC raised its holdings in shares of Microsoft by 1,290.0% during the 1st quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock valued at $59,000 after buying an additional 129 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Microsoft during the 4th quarter valued at about $58,000. Bellevue Group AG raised its holdings in shares of Microsoft by 47.5% during the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock valued at $76,000 after buying an additional 58 shares during the period. Finally, PayPay Securities Corp grew its position in shares of Microsoft by 23.7% during the fourth quarter. PayPay Securities Corp now owns 188 shares of the software giant’s stock worth $71,000 after buying an additional 36 shares in the last quarter. 71.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America raised their price objective on shares of Microsoft from $480.00 to $510.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Truist Financial reissued a “buy” rating and set a $600.00 price objective on shares of Microsoft in a report on Monday, June 17th. Macquarie raised their price objective on shares of Microsoft from $460.00 to $475.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Oppenheimer raised their price objective on shares of Microsoft from $450.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $550.00 price target on shares of Microsoft in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $494.72.

Microsoft Stock Up 1.0 %

MSFT stock opened at $417.14 on Friday. Microsoft Co. has a 52 week low of $309.45 and a 52 week high of $468.35. The company has a market capitalization of $3.10 trillion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 2.11 and a beta of 0.90. The firm’s 50-day moving average is $432.34 and its two-hundred day moving average is $422.67. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.05. Microsoft had a net margin of 35.96% and a return on equity of 35.95%. The company had revenue of $64.73 billion for the quarter, compared to the consensus estimate of $64.38 billion. During the same period in the previous year, the firm earned $2.69 EPS. Microsoft’s revenue was up 15.2% on a year-over-year basis. On average, analysts forecast that Microsoft Co. will post 13.04 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 15th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.72%. Microsoft’s payout ratio is currently 25.97%.

Insider Buying and Selling

In related news, CEO Satya Nadella sold 14,398 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $417.41, for a total value of $6,009,869.18. Following the sale, the chief executive officer now directly owns 786,933 shares in the company, valued at approximately $328,473,703.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Satya Nadella sold 14,398 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $417.41, for a total value of $6,009,869.18. Following the sale, the chief executive officer now directly owns 786,933 shares in the company, valued at approximately $328,473,703.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Takeshi Numoto sold 244 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $415.53, for a total transaction of $101,389.32. Following the completion of the sale, the chief marketing officer now owns 47,011 shares in the company, valued at $19,534,480.83. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.

About Microsoft

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.