Mystic Asset Management Inc. Has $21.60 Million Stake in Microsoft Co. (NASDAQ:MSFT)

Mystic Asset Management Inc. increased its stake in shares of Microsoft Co. (NASDAQ:MSFT - Free Report) by 79.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,244 shares of the software giant's stock after acquiring an additional 22,682 shares during the period. Microsoft comprises about 5.8% of Mystic Asset Management Inc.'s portfolio, making the stock its 2nd largest position. Mystic Asset Management Inc.'s holdings in Microsoft were worth $21,600,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Fiduciary Advisors Inc. acquired a new stake in Microsoft in the 4th quarter valued at $38,000. IFS Advisors LLC lifted its position in shares of Microsoft by 53.8% in the fourth quarter. IFS Advisors LLC now owns 100 shares of the software giant's stock valued at $42,000 after buying an additional 35 shares during the last quarter. Avondale Wealth Management boosted its stake in shares of Microsoft by 144.4% during the 4th quarter. Avondale Wealth Management now owns 110 shares of the software giant's stock worth $46,000 after acquiring an additional 65 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of Microsoft during the 3rd quarter worth approximately $62,000. Finally, Fairway Wealth LLC acquired a new position in shares of Microsoft during the 4th quarter worth approximately $62,000. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Trading Down 0.2%

Shares of NASDAQ:MSFT traded down $0.90 during trading on Wednesday, reaching $459.79. The stock had a trading volume of 2,467,567 shares, compared to its average volume of 21,511,920. The stock has a market cap of $3.42 trillion, a price-to-earnings ratio of 37.05, a P/E/G ratio of 2.21 and a beta of 0.99. Microsoft Co. has a 52 week low of $344.79 and a 52 week high of $468.35. The firm's fifty day moving average is $405.09 and its 200 day moving average is $414.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.34 and a current ratio of 1.35.

Microsoft (NASDAQ:MSFT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The software giant reported $3.46 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.24. Microsoft had a net margin of 35.43% and a return on equity of 33.36%. The firm had revenue of $70.07 billion for the quarter, compared to analyst estimates of $68.54 billion. During the same period last year, the firm earned $2.94 earnings per share. The business's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts forecast that Microsoft Co. will post 13.08 EPS for the current fiscal year.

Microsoft Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.32 annualized dividend and a dividend yield of 0.72%. Microsoft's payout ratio is 25.66%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Tigress Financial raised their price target on Microsoft from $550.00 to $595.00 and gave the company a "buy" rating in a report on Thursday, March 20th. Westpark Capital reaffirmed a "hold" rating on shares of Microsoft in a report on Thursday, May 1st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $525.00 target price on shares of Microsoft in a report on Friday, May 23rd. Citigroup lifted their target price on shares of Microsoft from $480.00 to $540.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Cantor Fitzgerald lifted their target price on shares of Microsoft from $502.00 to $512.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $513.13.

Insiders Place Their Bets

In other news, EVP Amy Coleman sold 13,243 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 43,100 shares of the company's stock, valued at approximately $19,481,631. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bradford L. Smith sold 6,000 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $433.17, for a total value of $2,599,020.00. Following the transaction, the insider now owns 471,036 shares of the company's stock, valued at $204,038,664.12. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,743 shares of company stock worth $58,375,673 in the last quarter. 0.03% of the stock is owned by company insiders.

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.