Cigna Investments Inc. New Sells 508 Shares of Microsoft Co. (NASDAQ:MSFT)

Cigna Investments Inc. New cut its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,598 shares of the software giant’s stock after selling 508 shares during the period. Microsoft comprises approximately 5.6% of Cigna Investments Inc. New’s investment portfolio, making the stock its 3rd biggest holding. Cigna Investments Inc. New’s holdings in Microsoft were worth $31,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MSFT. Adamsbrown Wealth Consultants LLC lifted its position in shares of Microsoft by 2.2% during the 4th quarter. Adamsbrown Wealth Consultants LLC now owns 5,967 shares of the software giant’s stock valued at $2,515,000 after buying an additional 130 shares in the last quarter. Oak Ridge Investments LLC grew its stake in Microsoft by 7.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 263,534 shares of the software giant’s stock valued at $113,399,000 after acquiring an additional 18,544 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of Microsoft by 2.0% in the third quarter. Focus Financial Network Inc. now owns 76,296 shares of the software giant’s stock valued at $32,830,000 after purchasing an additional 1,489 shares during the last quarter. Campbell Wealth Management acquired a new stake in shares of Microsoft in the 3rd quarter worth $3,314,000. Finally, Evernest Financial Advisors LLC raised its stake in Microsoft by 389.2% during the third quarter. Evernest Financial Advisors LLC now owns 53,770 shares of the software giant’s stock worth $23,137,000 after purchasing an additional 42,778 shares during the period. Institutional investors and hedge funds own 71.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MSFT. Guggenheim restated a “neutral” rating on shares of Microsoft in a research report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and issued a $475.00 price target (down previously from $500.00) on shares of Microsoft in a research report on Monday. Cantor Fitzgerald reissued an “overweight” rating and set a $509.00 price objective on shares of Microsoft in a research report on Wednesday, January 29th. Wedbush dropped their target price on Microsoft from $550.00 to $475.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, DA Davidson raised shares of Microsoft from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $425.00 to $450.00 in a report on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and a consensus price target of $505.41.

Microsoft Price Performance

Shares of NASDAQ MSFT opened at $381.35 on Friday. The firm has a market capitalization of $2.83 trillion, a P/E ratio of 30.70, a PEG ratio of 2.21 and a beta of 1.00. Microsoft Co. has a one year low of $344.79 and a one year high of $468.35. The company’s fifty day moving average is $392.37 and its two-hundred day moving average is $414.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.34 and a current ratio of 1.35.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, January 29th. The software giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.08. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. During the same quarter in the previous year, the firm posted $2.93 EPS. Analysts forecast that Microsoft Co. will post 13.08 EPS for the current fiscal year.

Microsoft Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, May 15th. Microsoft’s dividend payout ratio is currently 26.73%.

Microsoft 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.