Everett Harris & Co. CA Sells 20,078 Shares of Microsoft Co. (NASDAQ:MSFT)

Everett Harris & Co. CA reduced its stake in Microsoft Co. (NASDAQ:MSFT) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,580,742 shares of the software giant’s stock after selling 20,078 shares during the quarter. Microsoft comprises 8.2% of Everett Harris & Co. CA’s holdings, making the stock its 3rd largest holding. Everett Harris & Co. CA’s holdings in Microsoft were worth $538,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Good Life Advisors LLC lifted its stake in Microsoft by 0.6% in the second quarter. Good Life Advisors LLC now owns 54,021 shares of the software giant’s stock valued at $18,396,000 after buying an additional 311 shares during the period. Carr Financial Group Corp lifted its stake in Microsoft by 4.0% in the second quarter. Carr Financial Group Corp now owns 10,761 shares of the software giant’s stock valued at $3,665,000 after buying an additional 417 shares during the period. Planning Center Inc. lifted its stake in Microsoft by 24.4% in the second quarter. Planning Center Inc. now owns 4,849 shares of the software giant’s stock valued at $1,651,000 after buying an additional 950 shares during the period. Nissay Asset Management Corp Japan ADV lifted its stake in Microsoft by 6.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 1,518,749 shares of the software giant’s stock valued at $437,855,000 after buying an additional 94,563 shares during the period. Finally, Trivant Custom Portfolio Group LLC lifted its stake in Microsoft by 1.2% in the second quarter. Trivant Custom Portfolio Group LLC now owns 19,877 shares of the software giant’s stock valued at $6,769,000 after buying an additional 229 shares during the period. 69.20% of the stock is owned by institutional investors and hedge funds.

Microsoft Stock Performance

NASDAQ:MSFT opened at $352.80 on Friday. The business’s 50-day moving average price is $328.84 and its two-hundred day moving average price is $326.42. Microsoft Co. has a twelve month low of $213.43 and a twelve month high of $366.78. The stock has a market cap of $2.62 trillion, a P/E ratio of 34.15, a PEG ratio of 2.32 and a beta of 0.88. The company has a quick ratio of 1.64, a current ratio of 1.66 and a debt-to-equity ratio of 0.19.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Tuesday, October 24th. The software giant reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.34. Microsoft had a return on equity of 38.79% and a net margin of 35.31%. The firm had revenue of $56.52 billion for the quarter, compared to analysts’ expectations of $54.52 billion. During the same quarter last year, the firm posted $2.35 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that Microsoft Co. will post 11.11 EPS for the current fiscal year.

Microsoft Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be issued a $0.75 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $3.00 annualized dividend and a dividend yield of 0.85%. This is a boost from Microsoft’s previous quarterly dividend of $0.68. Microsoft’s dividend payout ratio (DPR) is presently 29.04%.

Analyst Ratings Changes

Several brokerages have issued reports on MSFT. The Goldman Sachs Group boosted their price target on Microsoft from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Piper Sandler upped their target price on Microsoft from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. Barclays lowered their target price on Microsoft from $425.00 to $421.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 25th. StockNews.com initiated coverage on Microsoft in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, BMO Capital Markets upped their target price on Microsoft from $385.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating and thirty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Microsoft has an average rating of “Moderate Buy” and a consensus price target of $384.34.

Insider Buying and Selling at Microsoft

In other news, CEO Satya Nadella sold 38,234 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $328.43, for a total transaction of $12,557,192.62. Following the transaction, the chief executive officer now directly owns 800,668 shares in the company, valued at approximately $262,963,391.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Kathleen T. Hogan sold 26,815 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $327.37, for a total transaction of $8,778,426.55. Following the transaction, the executive vice president now directly owns 198,373 shares in the company, valued at approximately $64,941,369.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Satya Nadella sold 38,234 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $328.43, for a total value of $12,557,192.62. Following the transaction, the chief executive officer now owns 800,668 shares in the company, valued at $262,963,391.24. The disclosure for this sale can be found here. 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.