Cowa LLC decreased its position in Microsoft Co. (NASDAQ:MSFT – Free Report) by 28.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,304 shares of the software giant’s stock after selling 1,300 shares during the period. Cowa LLC’s holdings in Microsoft were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of MSFT. Rather & Kittrell Inc. increased its stake in shares of Microsoft by 3.6% in the third quarter. Rather & Kittrell Inc. now owns 3,369 shares of the software giant’s stock worth $1,450,000 after purchasing an additional 118 shares in the last quarter. 5th Street Advisors LLC bought a new position in Microsoft in the 3rd quarter worth approximately $324,000. Klingman & Associates LLC grew its stake in Microsoft by 8.4% in the 3rd quarter. Klingman & Associates LLC now owns 30,111 shares of the software giant’s stock valued at $12,957,000 after buying an additional 2,340 shares in the last quarter. Wealth Quarterback LLC raised its holdings in Microsoft by 5.1% during the 3rd quarter. Wealth Quarterback LLC now owns 9,430 shares of the software giant’s stock valued at $4,058,000 after acquiring an additional 459 shares during the period. Finally, Thomas Story & Son LLC lifted its position in shares of Microsoft by 13.4% during the third quarter. Thomas Story & Son LLC now owns 1,695 shares of the software giant’s stock worth $729,000 after acquiring an additional 200 shares in the last quarter. 71.13% of the stock is owned by institutional investors.
Microsoft Price Performance
Shares of NASDAQ:MSFT opened at $418.95 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.11 trillion, a PE ratio of 34.57, a PEG ratio of 2.37 and a beta of 0.90. The company’s fifty day moving average is $428.83 and its 200 day moving average is $427.23. Microsoft Co. has a 52 week low of $380.38 and a 52 week high of $468.35.
Microsoft Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th 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 0.79%. The ex-dividend date is Thursday, February 20th. Microsoft’s dividend payout ratio (DPR) is presently 27.39%.
Microsoft declared that its board has initiated a stock buyback plan on Monday, September 16th that allows the company to buyback $60.00 billion in outstanding shares. This buyback authorization allows the software giant to repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Microsoft from $506.00 to $548.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus upped their price target on Microsoft from $475.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 price target on shares of Microsoft in a report on Tuesday, November 5th. KeyCorp boosted their price objective on shares of Microsoft from $490.00 to $505.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Mizuho increased their target price on shares of Microsoft from $480.00 to $510.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $511.62.
Check Out Our Latest Analysis on Microsoft
Insider Transactions at Microsoft
In other Microsoft news, CMO Takeshi Numoto sold 1,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $414.72, for a total value of $414,720.00. Following the sale, the chief marketing officer now owns 57,511 shares of the company’s stock, valued at $23,850,961.92. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher David Young sold 7,200 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $423.66, for a total transaction of $3,050,352.00. Following the transaction, the executive vice president now directly owns 103,366 shares of the company’s stock, valued at approximately $43,792,039.56. This trade represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,200 shares of company stock worth $17,383,892. 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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