Cardinal Capital Management reduced its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,750 shares of the software giant’s stock after selling 437 shares during the period. Microsoft makes up approximately 3.0% of Cardinal Capital Management’s investment portfolio, making the stock its 3rd biggest position. Cardinal Capital Management’s holdings in Microsoft were worth $12,751,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in MSFT. Monumental Financial Group Inc. acquired a new position in Microsoft during the first quarter valued at approximately $28,000. Newfound Research LLC raised its position in Microsoft by 25.4% during the second quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock valued at $76,000 after purchasing an additional 60 shares in the last quarter. Grayhawk Investment Strategies Inc. acquired a new position in Microsoft during the second quarter valued at approximately $104,000. Darrow Company Inc. acquired a new position in Microsoft during the second quarter valued at approximately $82,000. Finally, Morgan Dempsey Capital Management LLC acquired a new position in Microsoft during the third quarter valued at approximately $82,000. 69.15% of the stock is currently owned by institutional investors.
Microsoft Trading Up 0.5 %
MSFT opened at $240.35 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.84 and a quick ratio of 1.79. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $315.95. The firm has a market capitalization of $1.79 trillion, a PE ratio of 25.90, a P/E/G ratio of 2.35 and a beta of 0.94. The company’s 50-day moving average is $241.83 and its 200 day moving average is $250.46.
Microsoft Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Investors of record on Wednesday, February 15th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.13%. Microsoft’s dividend payout ratio is presently 29.31%.
Analyst Ratings Changes
Several research analysts have recently issued reports on MSFT shares. Macquarie started coverage on shares of Microsoft in a report on Wednesday, November 2nd. They set a “neutral” rating and a $234.00 price target for the company. Cowen lowered their price target on shares of Microsoft from $310.00 to $285.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Barclays lowered their price target on shares of Microsoft from $296.00 to $280.00 and set an “overweight” rating for the company in a report on Tuesday, January 10th. Piper Sandler lowered their price target on shares of Microsoft from $265.00 to $247.00 and set an “overweight” rating for the company in a report on Monday, January 9th. Finally, Fundamental Research lowered their price target on shares of Microsoft to $270.00 and set a “buy” rating for the company in a report on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $289.15.
Insider Buying and Selling
In other Microsoft news, EVP Judson Althoff sold 24,144 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $254.27, for a total value of $6,139,094.88. Following the completion of the sale, the executive vice president now owns 150,047 shares in the company, valued at approximately $38,152,450.69. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.03% of the stock is currently owned by company insiders.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.
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