Canopy Partners LLC lessened its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,987 shares of the software giant’s stock after selling 743 shares during the quarter. Microsoft makes up approximately 4.3% of Canopy Partners LLC’s investment portfolio, making the stock its 5th largest position. Canopy Partners LLC’s holdings in Microsoft were worth $9,891,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its holdings in Microsoft by 35.7% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 95 shares of the software giant’s stock valued at $39,000 after acquiring an additional 25 shares during the period. Quarry LP acquired a new position in shares of Microsoft in the second quarter valued at approximately $45,000. MidAtlantic Capital Management Inc. bought a new position in shares of Microsoft during the third quarter worth approximately $62,000. Innealta Capital LLC acquired a new stake in Microsoft during the 2nd quarter worth approximately $75,000. Finally, Carolina Wealth Advisors LLC boosted its stake in Microsoft by 10.1% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 338 shares of the software giant’s stock valued at $145,000 after purchasing an additional 31 shares during the period. 71.13% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Microsoft news, EVP Christopher David Young sold 7,200 shares of the company’s 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 directly owns 103,366 shares of the company’s stock, valued at approximately $43,792,039.56. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Takeshi Numoto sold 1,000 shares of Microsoft stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $414.72, for a total value of $414,720.00. Following the transaction, the chief marketing officer now directly owns 57,511 shares in the company, valued at approximately $23,850,961.92. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,200 shares of company stock valued at $17,383,892. 0.03% of the stock is currently owned by company insiders.
Microsoft Trading Down 1.1 %
Microsoft (NASDAQ:MSFT – Get Free Report) last announced its earnings results on Wednesday, January 29th. The software giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.08. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. During the same quarter last year, the firm earned $2.93 EPS. On average, sell-side analysts anticipate that Microsoft Co. will post 12.9 earnings per share for the current year.
Microsoft Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.32 annualized dividend and a yield of 0.75%. Microsoft’s payout ratio is currently 27.39%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on MSFT shares. Guggenheim reiterated a “neutral” rating on shares of Microsoft in a research report on Friday, January 24th. Loop Capital boosted their target price on shares of Microsoft from $500.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. The Goldman Sachs Group cut their target price on Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered 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. Finally, KeyCorp raised their price target on shares of Microsoft from $490.00 to $505.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $512.66.
Get Our Latest Analysis on Microsoft
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.
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