Crumly & Associates Inc. trimmed its position in Microsoft Corporation (NASDAQ:MSFT – Free Report) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,014 shares of the software giant’s stock after selling 210 shares during the quarter. Crumly & Associates Inc.’s holdings in Microsoft were worth $2,494,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division raised its holdings in shares of Microsoft by 4.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 52,353 shares of the software giant’s stock valued at $26,041,000 after purchasing an additional 2,032 shares in the last quarter. Private Client Services LLC raised its holdings in shares of Microsoft by 58.8% in the 2nd quarter. Private Client Services LLC now owns 7,849 shares of the software giant’s stock valued at $3,904,000 after purchasing an additional 2,906 shares in the last quarter. Cullen Investment Group LTD. raised its holdings in shares of Microsoft by 0.8% in the 2nd quarter. Cullen Investment Group LTD. now owns 88,611 shares of the software giant’s stock valued at $44,076,000 after purchasing an additional 686 shares in the last quarter. AdviceOne Advisory Services LLC raised its holdings in shares of Microsoft by 8.0% in the 1st quarter. AdviceOne Advisory Services LLC now owns 1,669 shares of the software giant’s stock valued at $626,000 after purchasing an additional 124 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Microsoft in the 1st quarter valued at $103,760,000. 71.13% of the stock is currently owned by institutional investors and hedge funds.
Microsoft Stock Up 0.2%
MSFT stock opened at $510.02 on Thursday. The company has a market cap of $3.79 trillion, a P/E ratio of 37.39, a P/E/G ratio of 2.22 and a beta of 1.04. Microsoft Corporation has a 52 week low of $344.79 and a 52 week high of $555.45. The company’s 50-day moving average price is $511.28 and its 200 day moving average price is $456.20. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.12.
Microsoft Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be given a dividend of $0.91 per share. The ex-dividend date is Thursday, November 20th. This is an increase from Microsoft’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 0.7%. Microsoft’s dividend payout ratio (DPR) is presently 24.34%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of Microsoft from $581.00 to $639.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Morgan Stanley raised their price objective on shares of Microsoft from $530.00 to $582.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Bank of America lifted their price target on shares of Microsoft from $585.00 to $640.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Oppenheimer lifted their price target on shares of Microsoft from $600.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, Sanford C. Bernstein lifted their price target on shares of Microsoft from $540.00 to $637.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $612.54.
Read Our Latest Stock Report on Microsoft
Insider Transactions at Microsoft
In other Microsoft news, CEO Satya Nadella sold 149,205 shares of Microsoft stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $504.78, for a total transaction of $75,315,699.90. Following the completion of the transaction, the chief executive officer owned 790,852 shares in the company, valued at approximately $399,206,272.56. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Takeshi Numoto sold 4,850 shares of Microsoft stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $527.32, for a total transaction of $2,557,502.00. Following the transaction, the executive vice president owned 39,111 shares of the company’s stock, valued at approximately $20,624,012.52. The trade was a 11.03% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.
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.
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