JCIC Asset Management Inc. Has $13.57 Million Stock Position in Microsoft Co. (NASDAQ:MSFT)

JCIC Asset Management Inc. boosted its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 2.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 46,911 shares of the software giant’s stock after buying an additional 900 shares during the period. Microsoft makes up approximately 6.3% of JCIC Asset Management Inc.’s holdings, making the stock its 2nd largest holding. JCIC Asset Management Inc.’s holdings in Microsoft were worth $13,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Microsoft by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 634,238,715 shares of the software giant’s stock valued at $147,714,197,000 after acquiring an additional 6,129,708 shares during the period. State Street Corp boosted its holdings in Microsoft by 0.7% during the 3rd quarter. State Street Corp now owns 295,509,547 shares of the software giant’s stock valued at $68,824,173,000 after acquiring an additional 1,951,554 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Microsoft by 0.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 195,859,819 shares of the software giant’s stock valued at $50,302,677,000 after acquiring an additional 556,020 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Microsoft by 112,158.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 150,187,424 shares of the software giant’s stock valued at $36,017,948,000 after buying an additional 150,053,637 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Microsoft by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 142,731,177 shares of the software giant’s stock valued at $34,172,705,000 after buying an additional 3,268,917 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Insider Transactions at Microsoft

In other news, insider Bradford L. Smith sold 50,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $337.20, for a total value of $16,860,000.00. Following the sale, the insider now owns 588,084 shares in the company, valued at $198,301,924.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.03% of the company’s stock.

Microsoft Trading Up 0.3 %

Shares of NASDAQ:MSFT opened at $328.66 on Tuesday. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $366.78. The stock has a market cap of $2.44 trillion, a price-to-earnings ratio of 33.92, a PEG ratio of 2.42 and a beta of 0.90. The company has a quick ratio of 1.75, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $332.77 and a 200-day moving average price of $308.80.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Tuesday, July 25th. The software giant reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.14. The firm had revenue of $56.19 billion during the quarter, compared to analysts’ expectations of $55.49 billion. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $2.23 earnings per share. Equities analysts predict that Microsoft Co. will post 10.9 EPS for the current year.

Microsoft Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 17th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.83%. Microsoft’s payout ratio is currently 28.07%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MSFT. Guggenheim reiterated a “sell” rating and set a $232.00 price objective on shares of Microsoft in a report on Thursday, July 20th. Wedbush upped their target price on Microsoft from $375.00 to $400.00 in a report on Wednesday, July 26th. Argus raised their price target on Microsoft from $371.00 to $390.00 and gave the company a “buy” rating in a research note on Monday, July 31st. The Goldman Sachs Group upped their price objective on shares of Microsoft from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Microsoft from $350.00 to $385.00 in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $373.68.

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.