Microsoft Co. (NASDAQ:MSFT) Stock Holdings Cut by Pettee Investors Inc.

Pettee Investors Inc. lowered its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,269 shares of the software giant’s stock after selling 575 shares during the quarter. Microsoft accounts for about 3.7% of Pettee Investors Inc.’s portfolio, making the stock its 4th largest position. Pettee Investors Inc.’s holdings in Microsoft were worth $7,718,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Microsoft by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 667,987,038 shares of the software giant’s stock valued at $281,035,506,000 after buying an additional 3,078,099 shares during the period. Capital International Investors boosted its stake in Microsoft by 1.0% during the first quarter. Capital International Investors now owns 83,571,070 shares of the software giant’s stock worth $35,160,020,000 after buying an additional 842,884 shares during the period. Rhumbline Advisers increased its position in Microsoft by 0.3% during the second quarter. Rhumbline Advisers now owns 14,738,956 shares of the software giant’s stock valued at $6,587,576,000 after acquiring an additional 45,220 shares during the last quarter. Swedbank AB raised its stake in shares of Microsoft by 2.7% in the second quarter. Swedbank AB now owns 13,640,068 shares of the software giant’s stock valued at $6,096,428,000 after acquiring an additional 360,171 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Microsoft by 15.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,931,721 shares of the software giant’s stock worth $5,019,942,000 after acquiring an additional 1,613,050 shares during the last quarter. 71.13% of the stock is currently owned by institutional investors.

Microsoft Stock Performance

Shares of Microsoft stock opened at $416.72 on Friday. The company has a market capitalization of $3.10 trillion, a PE ratio of 36.08, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a 50-day simple moving average of $419.42 and a two-hundred day simple moving average of $424.54. Microsoft Co. has a one year low of $324.39 and a one year high of $468.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.27 and a current ratio of 1.27.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Tuesday, July 30th. The software giant reported $2.95 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $64.38 billion. During the same quarter in the previous year, the business posted $2.69 EPS. Microsoft’s revenue was up 15.2% on a year-over-year basis. Research analysts expect that Microsoft Co. will post 13.02 EPS for the current fiscal year.

Microsoft Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s dividend payout ratio is currently 28.74%.

Microsoft announced that its board has authorized a stock buyback plan on Monday, September 16th that permits the company to buyback $60.00 billion in outstanding shares. This buyback authorization permits the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 price target on shares of Microsoft in a report on Wednesday, July 31st. Wells Fargo & Company upped their target price on Microsoft from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and set a $485.00 price target on shares of Microsoft in a research note on Wednesday, July 31st. Bank of America upped their price objective on Microsoft from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, UBS Group reduced their target price on Microsoft from $520.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $495.68.

Insider Transactions at Microsoft

In related news, CEO Satya Nadella sold 78,353 shares of the company’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 transaction, the chief executive officer now directly owns 864,327 shares of the company’s stock, valued at $353,189,942.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Microsoft news, insider Bradford L. Smith sold 40,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $402.59, for a total value 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 approximately $219,349,953.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Satya Nadella sold 78,353 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $408.63, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 190,629 shares of company stock valued at $77,916,485 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.

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.