Microsoft Co. (NASDAQ:MSFT) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New trimmed its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.3% in the fourth quarter, Holdings Channel reports. The fund owned 78,801 shares of the software giant’s stock after selling 264 shares during the period. Microsoft accounts for about 6.1% of Cigna Investments Inc. New’s portfolio, making the stock its 3rd biggest position. Cigna Investments Inc. New’s holdings in Microsoft were worth $29,632,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Monumental Financial Group Inc. acquired a new stake in Microsoft during the 1st quarter worth approximately $28,000. Atlantic Private Wealth LLC lifted its position in Microsoft by 534.5% during the 2nd quarter. Atlantic Private Wealth LLC now owns 184 shares of the software giant’s stock worth $63,000 after acquiring an additional 155 shares during the period. Hibernia Wealth Partners LLC acquired a new stake in Microsoft during the 3rd quarter worth approximately $69,000. Iron Horse Wealth Management LLC lifted its holdings in shares of Microsoft by 89.0% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 223 shares of the software giant’s stock valued at $70,000 after buying an additional 105 shares during the period. Finally, MayTech Global Investments LLC acquired a new stake in shares of Microsoft in the 4th quarter valued at approximately $83,000. 71.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MSFT has been the subject of several recent analyst reports. Wedbush reissued an “outperform” rating and issued a $500.00 price target on shares of Microsoft in a report on Wednesday, April 10th. Macquarie raised their price target on Microsoft from $430.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. BNP Paribas raised Microsoft from a “neutral” rating to an “outperform” rating and set a $471.00 price target for the company in a report on Thursday, January 18th. KeyCorp began coverage on Microsoft in a research note on Thursday, March 21st. They issued an “overweight” rating and a $490.00 price objective for the company. Finally, Raymond James raised their price objective on Microsoft from $400.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $432.13.

Insider Activity at Microsoft

In other Microsoft news, major shareholder Corp Microsoft sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $1.95, for a total transaction of $1,950,000.00. Following the transaction, the insider now owns 11,677,398 shares in the company, valued at $22,770,926.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Microsoft news, major shareholder Corp Microsoft sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $1.95, for a total transaction of $1,950,000.00. Following the transaction, the insider now owns 11,677,398 shares in the company, valued at $22,770,926.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bradford L. Smith sold 3,303 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $406.12, for a total value of $1,341,414.36. Following the transaction, the insider now owns 570,826 shares in the company, valued at approximately $231,823,855.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,070,258 shares of company stock worth $30,690,456. 0.03% of the stock is owned by insiders.

Microsoft Price Performance

Shares of Microsoft stock opened at $399.12 on Friday. Microsoft Co. has a twelve month low of $275.37 and a twelve month high of $430.82. The stock has a market capitalization of $2.97 trillion, a P/E ratio of 36.09, a PEG ratio of 2.20 and a beta of 0.89. The company has a current ratio of 1.22, a quick ratio of 1.20 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $414.86 and its 200 day moving average price is $384.83.

Microsoft (NASDAQ:MSFT) last issued its earnings results on Tuesday, January 30th. The software giant reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.17. Microsoft had a return on equity of 38.40% and a net margin of 36.27%. The firm had revenue of $62.02 billion for the quarter, compared to analysts’ expectations of $61.14 billion. During the same quarter last year, the firm earned $2.32 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts anticipate that Microsoft Co. will post 11.61 earnings per share for the current year.

Microsoft Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Wednesday, May 15th. Microsoft’s payout ratio is currently 27.12%.

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.