Hodges Capital Management Inc. Sells 5,326 Shares of Microsoft Co. (NASDAQ:MSFT)

Hodges Capital Management Inc. lowered its position in Microsoft Co. (NASDAQ:MSFTFree Report) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,492 shares of the software giant’s stock after selling 5,326 shares during the quarter. Microsoft makes up about 1.7% of Hodges Capital Management Inc.’s portfolio, making the stock its 11th biggest position. Hodges Capital Management Inc.’s holdings in Microsoft were worth $26,729,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Occidental Asset Management LLC increased its holdings in Microsoft by 17.1% during the first quarter. Occidental Asset Management LLC now owns 33,890 shares of the software giant’s stock valued at $14,258,000 after buying an additional 4,941 shares during the period. Avity Investment Management Inc. boosted its position in Microsoft by 1.7% during the 1st quarter. Avity Investment Management Inc. now owns 123,749 shares of the software giant’s stock valued at $52,064,000 after acquiring an additional 2,034 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of Microsoft by 24.9% in the 1st quarter. Independence Bank of Kentucky now owns 28,534 shares of the software giant’s stock worth $12,005,000 after acquiring an additional 5,689 shares in the last quarter. Total Investment Management Inc. lifted its stake in shares of Microsoft by 17.2% during the 1st quarter. Total Investment Management Inc. now owns 3,013 shares of the software giant’s stock worth $1,268,000 after purchasing an additional 443 shares during the last quarter. Finally, Fidelity D & D Bancorp Inc. boosted its position in Microsoft by 5.7% during the first quarter. Fidelity D & D Bancorp Inc. now owns 8,249 shares of the software giant’s stock valued at $3,471,000 after purchasing an additional 443 shares in the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MSFT has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on shares of Microsoft from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Raymond James restated an “outperform” rating and issued a $480.00 target price (up from $450.00) on shares of Microsoft in a research note on Friday, April 26th. New Street Research began coverage on Microsoft in a research report on Monday, June 10th. They set a “buy” rating and a $570.00 price target on the stock. Truist Financial reiterated a “buy” rating and set a $600.00 price objective on shares of Microsoft in a report on Monday, June 17th. Finally, KeyCorp initiated coverage on Microsoft in a research note on Thursday, March 21st. They set an “overweight” rating and a $490.00 target price on the stock. Three research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $467.12.

Check Out Our Latest Stock Analysis on Microsoft

Microsoft Stock Performance

Shares of MSFT stock opened at $466.24 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. Microsoft Co. has a 12-month low of $309.45 and a 12-month high of $468.35. The business’s 50 day moving average is $431.03 and its two-hundred day moving average is $413.99. The company has a market capitalization of $3.47 trillion, a P/E ratio of 40.37, a P/E/G ratio of 2.20 and a beta of 0.89.

Microsoft (NASDAQ:MSFTGet Free Report) last announced its earnings results on Thursday, April 25th. The software giant reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.13. Microsoft had a return on equity of 37.54% and a net margin of 36.43%. The business had revenue of $61.86 billion during the quarter, compared to the consensus estimate of $60.86 billion. During the same period in the prior year, the company posted $2.45 EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis. Analysts expect that Microsoft Co. will post 11.77 EPS for the current fiscal year.

Microsoft Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.64%. Microsoft’s dividend payout ratio is currently 25.97%.

Insider Transactions at Microsoft

In related news, CMO Takeshi Numoto sold 244 shares of Microsoft stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $415.53, for a total value of $101,389.32. Following the sale, the chief marketing officer now directly owns 47,011 shares in the company, valued at approximately $19,534,480.83. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Microsoft news, CMO Takeshi Numoto sold 244 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $415.53, for a total transaction of $101,389.32. Following the completion of the transaction, the chief marketing officer now owns 47,011 shares of the company’s stock, valued at $19,534,480.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Judson Althoff sold 25,000 shares of Microsoft stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $425.68, for a total value of $10,642,000.00. Following the completion of the sale, the executive vice president now directly owns 104,949 shares in the company, valued at $44,674,690.32. The disclosure for this sale can be found here. Insiders sold 25,566 shares of company stock valued at $10,877,535 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.

About Microsoft

(Free Report)

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.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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