Microsoft Corporation (NASDAQ:MSFT) Stake Cut by Hoey Investments Inc.

Hoey Investments Inc. trimmed its position in shares of Microsoft Corporation (NASDAQ:MSFT) by 16.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,960 shares of the software giant’s stock after selling 21,559 shares during the period. Microsoft makes up about 8.3% of Hoey Investments Inc.’s holdings, making the stock its 4th biggest holding. Hoey Investments Inc.’s holdings in Microsoft were worth $42,404,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MSFT. Adamsbrown Wealth Consultants LLC raised its stake in 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 purchasing an additional 130 shares during the period. Mcdaniel Terry & Co. boosted its holdings in Microsoft by 6.1% during the fourth quarter. Mcdaniel Terry & Co. now owns 315,594 shares of the software giant’s stock valued at $133,023,000 after acquiring an additional 18,052 shares during the period. 1900 Wealth Management LLC grew its position in Microsoft by 3.0% during the fourth quarter. 1900 Wealth Management LLC now owns 10,140 shares of the software giant’s stock worth $4,274,000 after buying an additional 294 shares in the last quarter. Strategic Financial Services Inc. boosted its holdings in Microsoft by 7.8% during the fourth quarter. Strategic Financial Services Inc. now owns 17,426 shares of the software giant’s stock valued at $7,345,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Elevate Wealth Advisory Inc. raised its stake in shares of Microsoft by 147.9% in the fourth quarter. Elevate Wealth Advisory Inc. now owns 1,748 shares of the software giant’s stock valued at $737,000 after acquiring an additional 1,043 shares during the last quarter. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Stock Performance

MSFT opened at $511.70 on Friday. The stock’s 50 day moving average price is $476.35 and its two-hundred day moving average price is $427.88. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 0.12. Microsoft Corporation has a 12-month low of $344.79 and a 12-month high of $513.37. The firm has a market capitalization of $3.80 trillion, a P/E ratio of 39.54, a price-to-earnings-growth ratio of 2.30 and a beta of 1.04.

Microsoft (NASDAQ:MSFT) last released its earnings results on Wednesday, April 30th. The software giant reported $3.46 EPS for the quarter, beating the consensus estimate of $3.22 by $0.24. Microsoft had a return on equity of 32.74% and a net margin of 35.79%. The company had revenue of $70.07 billion during the quarter, compared to analysts’ expectations of $68.54 billion. During the same period last year, the firm earned $2.94 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Microsoft Corporation will post 13.08 earnings per share for the current year.

Microsoft Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, August 21st. Microsoft’s payout ratio is 25.66%.

Insider Activity

In related 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 transaction, the executive vice president directly owned 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathleen T. Hogan sold 21,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $453.77, for a total value of $9,756,055.00. Following the sale, the executive vice president owned 134,888 shares of the company’s stock, valued at approximately $61,208,127.76. The trade was a 13.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,743 shares of company stock valued at $60,224,683. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Raymond James Financial lifted their target price on shares of Microsoft from $480.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Piper Sandler increased their price target on shares of Microsoft from $475.00 to $600.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Bank of America reduced their price target on shares of Microsoft from $510.00 to $480.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. DA Davidson lifted their price target on shares of Microsoft from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, Evercore ISI set a $515.00 price target on shares of Microsoft and gave the company an “outperform” rating in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, Microsoft presently has an average rating of “Moderate Buy” and an average target price of $538.04.

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.