Microsoft Co. (NASDAQ:MSFT) is Legacy Capital Group California Inc.’s 3rd Largest Position

Legacy Capital Group California Inc. grew its position in shares of Microsoft Co. (NASDAQ:MSFT) by 14.1% during the third quarter, Holdings Channel.com reports. The fund owned 13,456 shares of the software giant’s stock after purchasing an additional 1,666 shares during the quarter. Microsoft comprises 1.9% of Legacy Capital Group California Inc.’s portfolio, making the stock its 3rd biggest holding. Legacy Capital Group California Inc.’s holdings in Microsoft were worth $5,790,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MSFT. Christopher J. Hasenberg Inc increased 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 valued at $31,000 after buying an additional 44 shares during the last quarter. Quarry LP bought a new position in shares of Microsoft in the second quarter valued at approximately $45,000. Innealta Capital LLC purchased a new stake in shares of Microsoft during the second quarter valued at approximately $75,000. Carolina Wealth Advisors LLC lifted its holdings in Microsoft by 10.1% during the third quarter. Carolina Wealth Advisors LLC now owns 338 shares of the software giant’s stock worth $145,000 after acquiring an additional 31 shares during the period. Finally, Bbjs Financial Advisors LLC boosted its position in Microsoft by 241.4% in the second quarter. Bbjs Financial Advisors LLC now owns 379 shares of the software giant’s stock worth $169,000 after purchasing an additional 268 shares during the last quarter. Institutional investors own 71.13% of the company’s stock.

Insider Buying and Selling

In other news, CMO Takeshi Numoto sold 1,000 shares of Microsoft stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $414.72, for a total transaction of $414,720.00. Following the completion of the sale, the chief marketing officer now directly owns 57,511 shares of the company’s stock, valued at approximately $23,850,961.92. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christopher David Young sold 7,200 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total transaction 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. This trade represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,200 shares of company stock worth $17,383,892. Insiders own 0.03% of the company’s stock.

Microsoft Stock Performance

NASDAQ MSFT opened at $436.60 on Friday. The company’s 50 day simple moving average is $427.02 and its two-hundred day simple moving average is $428.32. The stock has a market capitalization of $3.25 trillion, a PE ratio of 36.02, a P/E/G ratio of 2.37 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.30 and a quick ratio of 1.29. Microsoft Co. has a 1 year low of $366.50 and a 1 year high of $468.35.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.20. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. The company had revenue of $65.59 billion for the quarter, compared to the consensus estimate of $64.57 billion. During the same quarter last year, the business posted $2.99 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. Analysts predict that Microsoft Co. will post 12.93 earnings per share for the current fiscal year.

Microsoft declared that its board has initiated a share repurchase program on Monday, September 16th that permits the company to repurchase $60.00 billion in shares. This repurchase authorization permits the software giant to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

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 issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, February 20th. Microsoft’s payout ratio is 27.39%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MSFT shares. JPMorgan Chase & Co. decreased their target price on Microsoft from $470.00 to $465.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Oppenheimer downgraded shares of Microsoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $500.00 target price on shares of Microsoft in a research note on Tuesday, November 5th. TD Cowen decreased their price target on shares of Microsoft from $495.00 to $475.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Mizuho upped their price objective on Microsoft from $480.00 to $510.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $508.46.

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.