SkyOak Wealth LLC Sells 555 Shares of Microsoft Co. (NASDAQ:MSFT)

SkyOak Wealth LLC trimmed its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 3.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 15,661 shares of the software giant’s stock after selling 555 shares during the quarter. Microsoft comprises about 1.6% of SkyOak Wealth LLC’s portfolio, making the stock its 14th biggest holding. SkyOak Wealth LLC’s holdings in Microsoft were worth $7,000,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of MSFT. New Harbor Financial Group LLC lifted its position in shares of Microsoft by 55.9% during the 2nd quarter. New Harbor Financial Group LLC now owns 1,255 shares of the software giant’s stock worth $561,000 after buying an additional 450 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Microsoft by 25.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 250,657 shares of the software giant’s stock worth $112,031,000 after buying an additional 51,273 shares during the last quarter. AMG National Trust Bank lifted its position in shares of Microsoft by 19.0% during the 2nd quarter. AMG National Trust Bank now owns 81,502 shares of the software giant’s stock worth $36,427,000 after buying an additional 12,994 shares during the last quarter. True Link Financial Advisors LLC lifted its position in shares of Microsoft by 296.7% during the 1st quarter. True Link Financial Advisors LLC now owns 3,027 shares of the software giant’s stock worth $1,274,000 after buying an additional 2,264 shares during the last quarter. Finally, Spinnaker Investment Group LLC lifted its position in shares of Microsoft by 2.7% during the 1st quarter. Spinnaker Investment Group LLC now owns 12,521 shares of the software giant’s stock worth $5,268,000 after buying an additional 326 shares during the last quarter. 71.13% of the stock is currently owned by institutional investors.

Microsoft Stock Down 0.5 %

Microsoft stock opened at $408.46 on Tuesday. The firm has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 2.14 and a beta of 0.91. The firm has a 50 day simple moving average of $420.59 and a 200 day simple moving average of $424.74. Microsoft Co. has a 1-year low of $353.35 and a 1-year high of $468.35. The company has a current ratio of 1.30, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, beating the consensus estimate of $3.10 by $0.20. The company had revenue of $65.59 billion during the quarter, compared to analysts’ expectations of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. Microsoft’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.99 earnings per share. On average, analysts predict that Microsoft Co. will post 12.98 earnings per share for the current year.

Microsoft Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.83 per share. This is an increase from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.32 dividend on an annualized basis and a yield of 0.81%. Microsoft’s dividend payout ratio (DPR) is presently 27.39%.

Microsoft announced that its board has authorized a stock repurchase plan on Monday, September 16th that authorizes the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization authorizes the software giant to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on MSFT. Royal Bank of Canada reissued an “outperform” rating and set a $500.00 price target on shares of Microsoft in a research note on Wednesday, July 31st. The Goldman Sachs Group cut their price target on Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. DA Davidson lowered Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 price target on the stock. in a research note on Monday, September 23rd. JPMorgan Chase & Co. cut their price target on Microsoft from $470.00 to $465.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Citigroup cut their price target on Microsoft from $500.00 to $497.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $503.03.

Insider Transactions at Microsoft

In other Microsoft news, insider Bradford L. Smith sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $402.59, for a total value of $16,103,600.00. Following the completion of the sale, the insider now owns 544,847 shares of the company’s stock, valued at $219,349,953.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Takeshi Numoto sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $411.04, for a total transaction of $1,027,600.00. Following the transaction, the chief marketing officer now owns 50,000 shares in the company, valued at $20,552,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bradford L. Smith sold 40,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $402.59, for a total value of $16,103,600.00. Following the completion of the sale, the insider now owns 544,847 shares of the company’s stock, valued at approximately $219,349,953.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 190,629 shares of company stock worth $77,916,485. 0.03% of the stock is currently owned by corporate insiders.

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.