Lummis Asset Management LP Has $7.03 Million Stock Position in Microsoft Co. (NASDAQ:MSFT)

Lummis Asset Management LP increased its holdings in Microsoft Co. (NASDAQ:MSFT) by 23.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 16,339 shares of the software giant’s stock after buying an additional 3,092 shares during the quarter. Microsoft comprises approximately 8.2% of Lummis Asset Management LP’s portfolio, making the stock its 3rd biggest position. Lummis Asset Management LP’s holdings in Microsoft were worth $7,031,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MSFT. International Assets Investment Management LLC boosted its position in Microsoft by 48,526.1% in the third quarter. International Assets Investment Management LLC now owns 38,501,645 shares of the software giant’s stock worth $16,567,258,000 after purchasing an additional 38,422,466 shares during the last quarter. Wulff Hansen & CO. boosted its position in Microsoft by 47,196.6% in the second quarter. Wulff Hansen & CO. now owns 4,834,658 shares of the software giant’s stock worth $2,160,850,000 after purchasing an additional 4,824,436 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Microsoft by 67.5% in the third quarter. Assenagon Asset Management S.A. now owns 5,963,863 shares of the software giant’s stock worth $2,566,250,000 after purchasing an additional 2,404,348 shares during the last quarter. Baillie Gifford & Co. boosted its position in Microsoft by 46.1% in the third quarter. Baillie Gifford & Co. now owns 7,048,244 shares of the software giant’s stock worth $3,032,859,000 after purchasing an additional 2,222,483 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in Microsoft by 56.9% in the third quarter. AustralianSuper Pty Ltd now owns 5,344,566 shares of the software giant’s stock worth $2,299,767,000 after purchasing an additional 1,938,304 shares during the last quarter. 71.13% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CMO Takeshi Numoto sold 2,500 shares of Microsoft stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $447.41, for a total transaction of $1,118,525.00. Following the transaction, the chief marketing officer now owns 49,352 shares in the company, valued at approximately $22,080,578.32. This trade represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christopher David Young sold 7,200 shares of Microsoft stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total value of $3,050,352.00. Following the transaction, the executive vice president now owns 103,366 shares in the company, valued at approximately $43,792,039.56. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,200 shares of company stock worth $17,383,892 over the last quarter. 0.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MSFT. Oppenheimer cut Microsoft from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their price objective on Microsoft from $506.00 to $548.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Wells Fargo & Company reaffirmed a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. Stifel Nicolaus lifted their price objective on Microsoft from $475.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Citigroup lowered their price objective on Microsoft from $500.00 to $497.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $512.93.

Microsoft Stock Performance

Shares of MSFT stock opened at $429.03 on Monday. The company has a market capitalization of $3.19 trillion, a P/E ratio of 35.40, a P/E/G ratio of 2.22 and a beta of 0.90. The business’s 50 day moving average is $429.32 and its two-hundred day moving average is $426.37. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15. Microsoft Co. has a 12-month low of $385.58 and a 12-month high of $468.35.

Microsoft (NASDAQ:MSFT) last released its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.20. The business had revenue of $65.59 billion for the quarter, compared to the consensus estimate of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.99 earnings per share. Analysts expect that Microsoft Co. will post 12.92 EPS for the current fiscal year.

Microsoft Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be given a $0.83 dividend. The ex-dividend date is Thursday, February 20th. This represents a $3.32 annualized dividend and a dividend yield of 0.77%. Microsoft’s dividend payout ratio (DPR) is presently 27.39%.

About Microsoft

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.