Chase Investment Counsel Corp Has $12.23 Million Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Chase Investment Counsel Corp cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,235 shares of the software giant’s stock after selling 321 shares during the quarter. Microsoft comprises approximately 3.6% of Chase Investment Counsel Corp’s portfolio, making the stock its 3rd biggest position. Chase Investment Counsel Corp’s holdings in Microsoft were worth $12,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc increased its holdings in Microsoft by 169.2% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after buying an additional 44 shares in the last quarter. Richardson Capital Management LLC boosted its position in Microsoft by 1,290.0% in the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after purchasing an additional 129 shares during the last quarter. Innealta Capital LLC purchased a new position in Microsoft in the second quarter worth about $75,000. Bellevue Group AG boosted its position in Microsoft by 47.5% in the first quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after purchasing an additional 58 shares during the last quarter. Finally, Horizon Financial Services LLC purchased a new position in Microsoft in the first quarter worth about $80,000. 71.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MSFT shares. Bank of America raised their target price on Microsoft from $480.00 to $510.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Mizuho lifted their price objective on Microsoft from $450.00 to $480.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. DA Davidson cut Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 price objective on the stock. in a research report on Monday, September 23rd. Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective on shares of Microsoft in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 price objective on shares of Microsoft in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $495.68.

Insider Buying and Selling at Microsoft

In related news, CMO Takeshi Numoto sold 2,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total value of $1,027,600.00. Following the completion of the transaction, the chief marketing officer now owns 50,000 shares of the company’s stock, valued at $20,552,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Kathleen T. Hogan sold 17,378 shares of Microsoft stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $411.85, for a total transaction of $7,157,129.30. Following the completion of the sale, the executive vice president now owns 150,161 shares of the company’s stock, valued at approximately $61,843,807.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Takeshi Numoto sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $411.04, for a total transaction of $1,027,600.00. Following the transaction, the chief marketing officer now owns 50,000 shares of the company’s stock, valued at approximately $20,552,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 190,629 shares of company stock worth $77,916,485 over the last ninety days. Company insiders own 0.03% of the company’s stock.

Microsoft Stock Up 0.3 %

Shares of Microsoft stock opened at $418.16 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.11 trillion, a P/E ratio of 36.20, a P/E/G ratio of 2.22 and a beta of 0.90. Microsoft Co. has a fifty-two week low of $324.39 and a fifty-two week high of $468.35. The business has a 50-day moving average price of $419.66 and a 200 day moving average price of $424.49.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings data on Tuesday, July 30th. The software giant reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.05. The business had revenue of $64.73 billion during the quarter, compared to the consensus estimate of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.69 earnings per share. On average, sell-side analysts forecast that Microsoft Co. will post 13.02 earnings per share for the current fiscal year.

Microsoft Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 dividend on an annualized basis and a yield of 0.79%. Microsoft’s dividend payout ratio is currently 28.74%.

Microsoft announced that its Board of Directors has approved a stock repurchase program on Monday, September 16th that authorizes the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization authorizes the software giant to reacquire up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.