Rep. Morgan McGarvey Sells Microsoft Co. (NASDAQ:MSFT) Stock

Representative Morgan McGarvey (D-Kentucky) recently sold shares of Microsoft Co. (NASDAQ:MSFT). In a filing disclosed on December 10th, the Representative disclosed that they had sold between $1,001 and $15,000 in Microsoft stock on November 13th. The trade occurred in the Representative’s “CHRIS IRA” account.

Representative Morgan McGarvey also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Shell (NYSE:SHEL) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Interactive Brokers Group (NASDAQ:IBKR) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Charles Schwab (NYSE:SCHW) on 11/13/2024.
• Sold $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Trump Media & Technology Group (NASDAQ:DJT) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Trump Media & Technology Group (NASDAQ:DJT) on 11/6/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 10/25/2024.

Microsoft Price Performance

Shares of NASDAQ MSFT opened at $448.99 on Thursday. Microsoft Co. has a twelve month low of $364.13 and a twelve month high of $468.35. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $422.24 and its 200-day moving average price is $427.22. The company has a market capitalization of $3.34 trillion, a PE ratio of 37.05, a PEG ratio of 2.37 and a beta of 0.90.

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, equities analysts anticipate that Microsoft Co. will post 12.93 EPS for the current year.

Microsoft announced that its Board of Directors has initiated a stock buyback program on Monday, September 16th that authorizes the company to buyback $60.00 billion in shares. This buyback authorization authorizes the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Microsoft Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.83 per share. The ex-dividend date is Thursday, February 20th. This represents a $3.32 annualized dividend and a yield of 0.74%. Microsoft’s payout ratio is 27.39%.

Insider Buying and Selling at Microsoft

In other news, EVP Christopher David Young sold 7,200 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total transaction of $3,050,352.00. Following the completion of the transaction, the executive vice president now owns 103,366 shares in the company, valued at approximately $43,792,039.56. This represents a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Takeshi Numoto sold 1,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $414.72, for a total transaction of $414,720.00. Following the completion of the sale, the chief marketing officer now owns 57,511 shares in the company, valued at $23,850,961.92. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,200 shares of company stock valued at $17,383,892. Company insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On Microsoft

Several large investors have recently bought and sold shares of MSFT. DGS Capital Management LLC increased its stake in shares of Microsoft by 3.5% in the 3rd quarter. DGS Capital Management LLC now owns 23,905 shares of the software giant’s stock valued at $10,286,000 after acquiring an additional 817 shares in the last quarter. Garden State Investment Advisory Services LLC increased its stake in Microsoft by 4.6% in the third quarter. Garden State Investment Advisory Services LLC now owns 13,488 shares of the software giant’s stock valued at $5,809,000 after purchasing an additional 591 shares in the last quarter. Copley Financial Group Inc. acquired a new position in shares of Microsoft during the third quarter valued at about $832,000. Forthright Family Wealth Advisory LLC grew its stake in shares of Microsoft by 0.8% in the 3rd quarter. Forthright Family Wealth Advisory LLC now owns 3,377 shares of the software giant’s stock valued at $1,498,000 after buying an additional 28 shares during the period. Finally, FFG Partners LLC increased its position in Microsoft by 1.6% in the 3rd quarter. FFG Partners LLC now owns 41,266 shares of the software giant’s stock valued at $17,757,000 after buying an additional 668 shares in the last quarter. 71.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group reduced their price objective on Microsoft from $510.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley lifted their target price on shares of Microsoft from $506.00 to $548.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group reduced their price target on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of Microsoft from $470.00 to $465.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $470.00 price target on shares of Microsoft in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $504.36.

About Representative McGarvey

Morgan McGarvey (Democratic Party) is a member of the U.S. House, representing Kentucky’s 3rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. McGarvey (Democratic Party) is running for re-election to the U.S. House to represent Kentucky’s 3rd Congressional District. He declared candidacy for the Democratic primary scheduled on May 21, 2024. McGarvey served as state Senate minority leader from 2019 to 2023. Morgan McGarvey was born in Louisville, Kentucky. McGarvey earned a bachelor’s degree in journalism from the University of Missouri and a law degree from the University of Kentucky. His career experience includes working as an attorney with Morgan & Pottinger PSC. McGarvey has been affiliated with the Young Professionals Association of Louisville and the New Leaders Council.

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.