Mutual of America Capital Management LLC Sells 22,438 Shares of Microsoft Co. (NASDAQ:MSFT)

Mutual of America Capital Management LLC decreased its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 979,299 shares of the software giant’s stock after selling 22,438 shares during the period. Microsoft makes up about 4.8% of Mutual of America Capital Management LLC’s portfolio, making the stock its largest position. Mutual of America Capital Management LLC’s holdings in Microsoft were worth $437,698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc raised its holdings in shares of Microsoft by 169.2% in the second quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock valued at $31,000 after purchasing an additional 44 shares during the last quarter. Richardson Capital Management LLC grew its position in Microsoft by 1,290.0% during the first 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. Innealta Capital LLC bought a new position in Microsoft during the second quarter valued at about $75,000. Bellevue Group AG grew its position in Microsoft by 47.5% during the first 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, Iron Horse Wealth Management LLC grew its position in Microsoft by 36.8% during the first quarter. Iron Horse Wealth Management LLC now owns 305 shares of the software giant’s stock valued at $128,000 after buying an additional 82 shares during the period. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Microsoft Trading Up 1.0 %

Shares of MSFT opened at $410.37 on Monday. The company has a market capitalization of $3.05 trillion, a P/E ratio of 33.86, a P/E/G ratio of 2.14 and a beta of 0.91. Microsoft Co. has a 1-year low of $344.77 and a 1-year high of $468.35. The firm’s 50 day simple moving average is $420.69 and its 200 day simple moving average is $424.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.30 and a quick ratio of 1.27.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings results on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, topping the consensus estimate of $3.10 by $0.20. The firm had revenue of $65.59 billion for the quarter, compared to the consensus estimate of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $2.99 earnings per share. Sell-side analysts forecast that Microsoft Co. will post 12.98 earnings per share for the current fiscal year.

Microsoft Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.83 dividend. This is a boost from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, November 21st. This represents a $3.32 annualized dividend and a dividend yield of 0.81%. Microsoft’s dividend payout ratio (DPR) is currently 27.39%.

Microsoft declared that its Board of Directors has approved a stock repurchase plan on Monday, September 16th that permits the company to buyback $60.00 billion in shares. This buyback authorization permits the software giant to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on MSFT shares. Truist Financial restated a “buy” rating and set a $600.00 price target on shares of Microsoft in a research report on Monday, October 28th. TD Cowen reduced their price target on shares of Microsoft from $495.00 to $475.00 and set a “buy” rating for the company in a research report on Thursday. Argus increased their price target on shares of Microsoft from $475.00 to $526.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price target on shares of Microsoft from $470.00 to $465.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $503.03.

Insider Transactions at Microsoft

In other news, insider Bradford L. Smith sold 40,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 544,847 shares in the company, valued at approximately $219,349,953.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Amy Hood sold 38,000 shares of Microsoft stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $410.55, for a total value of $15,600,900.00. Following the sale, the chief financial officer now owns 496,369 shares in the company, valued at $203,784,292.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the insider now directly owns 544,847 shares of the company’s stock, valued at $219,349,953.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 190,629 shares of company stock worth $77,916,485. 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.