Progressive Investment Management Corp Sells 2,374 Shares of Microsoft Co. (NASDAQ:MSFT)

Progressive Investment Management Corp lowered its position in shares of Microsoft Co. (NASDAQ:MSFT) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,986 shares of the software giant’s stock after selling 2,374 shares during the quarter. Microsoft makes up about 9.2% of Progressive Investment Management Corp’s investment portfolio, making the stock its 2nd largest position. Progressive Investment Management Corp’s holdings in Microsoft were worth $35,821,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MSFT. Fiduciary Advisors Inc. bought a new stake in shares of Microsoft in the 4th quarter valued at about $38,000. IFS Advisors LLC boosted its stake in Microsoft by 53.8% during the 4th quarter. IFS Advisors LLC now owns 100 shares of the software giant’s stock worth $42,000 after acquiring an additional 35 shares during the last quarter. Avondale Wealth Management grew its holdings in Microsoft by 144.4% during the fourth quarter. Avondale Wealth Management now owns 110 shares of the software giant’s stock valued at $46,000 after purchasing an additional 65 shares during the period. Fairway Wealth LLC bought a new stake in Microsoft in the fourth quarter valued at approximately $62,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Microsoft in the fourth quarter worth $120,000. Institutional investors and hedge funds own 71.13% of the company’s stock.

Wall Street Analysts Forecast Growth

MSFT has been the subject of several research analyst reports. Stifel Nicolaus boosted their price target on shares of Microsoft from $475.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, May 1st. DA Davidson boosted their target price on Microsoft from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. BMO Capital Markets restated an “outperform” rating on shares of Microsoft in a report on Wednesday, May 21st. Bank of America dropped their price target on Microsoft from $510.00 to $480.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald boosted their price objective on Microsoft from $502.00 to $512.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Microsoft has a consensus rating of “Moderate Buy” and a consensus target price of $513.13.

Insider Buying and Selling

In other Microsoft news, EVP Judson Althoff sold 16,000 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $458.18, for a total transaction of $7,330,880.00. Following the completion of the sale, the executive vice president now owns 98,010 shares of the company’s stock, valued at $44,906,221.80. This trade represents a 14.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Takeshi Numoto sold 3,000 shares of Microsoft stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $463.00, for a total transaction of $1,389,000.00. Following the transaction, the executive vice president now directly owns 43,930 shares of the company’s stock, valued at approximately $20,339,590. This trade represents a 6.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,743 shares of company stock worth $60,224,683. Company insiders own 0.03% of the company’s stock.

Microsoft Trading Up 0.2%

Shares of Microsoft stock opened at $463.87 on Thursday. The stock has a market cap of $3.45 trillion, a P/E ratio of 37.35, a P/E/G ratio of 2.21 and a beta of 1.03. The company has a quick ratio of 1.34, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. Microsoft Co. has a 12-month low of $344.79 and a 12-month high of $468.35. The business’s 50 day moving average is $413.59 and its 200-day moving average is $415.95.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings results on Wednesday, April 30th. The software giant reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.24. Microsoft had a net margin of 35.43% and a return on equity of 33.36%. The firm had revenue of $70.07 billion for the quarter, compared to analyst estimates of $68.54 billion. During the same period in the prior year, the firm posted $2.94 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts predict that Microsoft Co. will post 13.08 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 15th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.32 annualized dividend and a yield of 0.72%. Microsoft’s dividend payout ratio (DPR) is currently 25.66%.

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.