JCIC Asset Management Inc. lowered its holdings in Microsoft Corporation (NASDAQ:MSFT - Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,655 shares of the software giant's stock after selling 484 shares during the quarter. Microsoft accounts for 6.7% of JCIC Asset Management Inc.'s holdings, making the stock its 4th biggest position. JCIC Asset Management Inc.'s holdings in Microsoft were worth $16,012,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brady Martz Wealth Solutions LLC grew its holdings in shares of Microsoft by 1.4% in the first quarter. Brady Martz Wealth Solutions LLC now owns 6,650 shares of the software giant's stock valued at $2,496,000 after purchasing an additional 95 shares in the last quarter. Mcdaniel Terry & Co. grew its holdings in shares of Microsoft by 6.1% in the fourth quarter. Mcdaniel Terry & Co. now owns 315,594 shares of the software giant's stock valued at $133,023,000 after purchasing an additional 18,052 shares in the last quarter. Strategic Financial Services Inc. grew its holdings in shares of Microsoft by 7.8% in 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. Elevate Wealth Advisory Inc. grew its holdings 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 purchasing an additional 1,043 shares in the last quarter. Finally, Intellus Advisors LLC purchased a new position in Microsoft in the fourth quarter worth approximately $16,075,000. Institutional investors and hedge funds own 71.13% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on MSFT. TD Cowen boosted their price objective on shares of Microsoft from $580.00 to $640.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen raised shares of Microsoft from a "hold" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group boosted their price objective on shares of Microsoft from $600.00 to $675.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. UBS Group reaffirmed a "buy" rating and set a $650.00 price target (up from $600.00) on shares of Microsoft in a research note on Thursday, July 31st. Finally, Wedbush increased their price objective on shares of Microsoft from $600.00 to $625.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $609.86.
View Our Latest Report on MSFT
Microsoft Stock Down 0.5%
Shares of Microsoft stock traded down $2.81 on Wednesday, reaching $524.94. 21,298,640 shares of the company were exchanged, compared to its average volume of 22,431,307. Microsoft Corporation has a one year low of $344.79 and a one year high of $555.45. The company has a 50-day moving average of $492.99 and a 200 day moving average of $436.40. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 38.49, a PEG ratio of 2.34 and a beta of 1.06.
Microsoft (NASDAQ:MSFT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The software giant reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.35 by $0.30. The business had revenue of $76.44 billion for the quarter, compared to analyst estimates of $73.79 billion. Microsoft had a return on equity of 32.44% and a net margin of 36.15%. Microsoft's revenue was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $2.95 earnings per share. On average, equities research analysts forecast that Microsoft Corporation will post 13.08 earnings per share for the current year.
Microsoft Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, August 21st. Microsoft's payout ratio is presently 24.34%.
Insiders Place Their Bets
In related news, EVP Judson Althoff sold 16,000 shares of Microsoft stock in a transaction that occurred 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 transaction, the executive vice president owned 98,010 shares of the company's stock, valued at $44,906,221.80. The trade was a 14.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Amy Coleman sold 13,243 shares of Microsoft stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $452.01, for a total value of $5,985,968.43. Following the transaction, the executive vice president directly owned 43,100 shares in the company, valued at approximately $19,481,631. The trade was a 23.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,743 shares of company stock valued at $24,921,913. Company insiders own 0.03% of the company's stock.
Microsoft Company Profile
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Free Report)
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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