Microsoft Co. (NASDAQ:MSFT) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC reduced its stake in Microsoft Co. (NASDAQ:MSFT) by 3.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 286,318 shares of the software giant’s stock after selling 10,593 shares during the period. Microsoft accounts for 7.6% of Highland Capital Management LLC’s holdings, making the stock its largest holding. Highland Capital Management LLC’s holdings in Microsoft were worth $127,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Neo Ivy Capital Management bought a new stake in shares of Microsoft in the 4th quarter valued at $58,000. Richardson Capital Management LLC raised its holdings in shares of Microsoft by 1,290.0% in the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock valued at $59,000 after purchasing an additional 129 shares during the last quarter. Bellevue Group AG lifted its position in shares of Microsoft by 47.5% during the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after buying an additional 58 shares in the last quarter. Horizon Financial Services LLC purchased a new position in Microsoft in the first quarter worth $80,000. Finally, Cooksen Wealth LLC purchased a new position in Microsoft in the fourth quarter valued at about $86,000. Institutional investors and hedge funds own 71.13% of the company’s stock.

Microsoft Stock Up 0.5 %

Shares of NASDAQ:MSFT opened at $430.30 on Tuesday. The firm has a market cap of $3.20 trillion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. The company has a fifty day simple moving average of $419.26 and a 200 day simple moving average of $425.10. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.16. Microsoft Co. has a 12-month low of $311.21 and a 12-month high of $468.35.

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

Microsoft Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.77%. This is an increase from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, November 21st. Microsoft’s payout ratio is currently 28.74%.

Microsoft announced that its board has authorized a share repurchase plan on Monday, September 16th that authorizes the company to buyback $60.00 billion in outstanding shares. This buyback authorization authorizes the software giant to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MSFT shares. Citigroup decreased their price objective on Microsoft from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $500.00 price objective on shares of Microsoft in a report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and set a $485.00 target price on shares of Microsoft in a report on Wednesday, July 31st. Mizuho upped their price target on Microsoft from $450.00 to $480.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, New Street Research began coverage on Microsoft in a research report on Monday, June 10th. They issued a “buy” rating and a $570.00 price target for the company. Two investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to MarketBeat, Microsoft has an average rating of “Moderate Buy” and a consensus target price of $493.94.

Insider Activity

In related news, CEO Satya Nadella sold 78,353 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the completion of the transaction, the chief executive officer now owns 864,327 shares of the company’s stock, valued at approximately $353,189,942.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Bradford L. Smith sold 40,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $402.59, for a total transaction of $16,103,600.00. Following the completion of the transaction, the insider now owns 544,847 shares of the company’s stock, valued at $219,349,953.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Satya Nadella sold 78,353 shares of Microsoft stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total value of $32,017,386.39. Following the sale, the chief executive officer now directly owns 864,327 shares in the company, valued at $353,189,942.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 190,629 shares of company stock valued at $77,916,485. Insiders own 0.03% of the company’s stock.

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.