Hoertkorn Richard Charles Sells 977 Shares of Microsoft Corporation (NASDAQ:MSFT)

Key Points

• Hoertkorn Richard Charles reduced its stake in Microsoft Corporation by 2.3%, owning 42,330 shares worth approximately $15.89 million, making it the firm's third largest position.
• Microsoft's quarterly earnings report showed an earnings per share (EPS) of $3.65, beating analysts' expectations of $3.35, with revenue reaching $76.44 billion and a year-over-year growth of 18.1%.
• The company declared a quarterly dividend of $0.83, set to be paid on September 11th, reflecting an annualized yield of 0.6%.

Hoertkorn Richard Charles trimmed its holdings in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,330 shares of the software giant's stock after selling 977 shares during the period. Microsoft comprises 7.4% of Hoertkorn Richard Charles' holdings, making the stock its 3rd largest position. Hoertkorn Richard Charles' holdings in Microsoft were worth $15,890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MSFT. Newton One Investments LLC grew its holdings in Microsoft by 66.7% during the first quarter. Newton One Investments LLC now owns 75 shares of the software giant's stock worth $28,000 after purchasing an additional 30 shares during the period. Ball & Co Wealth Management Inc. bought a new position in shares of Microsoft during the 4th quarter worth approximately $31,000. LSV Asset Management bought a new position in shares of Microsoft during the 4th quarter worth approximately $44,000. IFS Advisors LLC increased its holdings in shares of Microsoft by 50.0% during the 1st quarter. IFS Advisors LLC now owns 150 shares of the software giant's stock worth $57,000 after acquiring an additional 50 shares during the last quarter. Finally, Fairway Wealth LLC bought a new stake in Microsoft in the 4th quarter valued at $62,000. Institutional investors and hedge funds own 71.13% of the company's stock.

Microsoft Price Performance

Shares of NASDAQ MSFT traded up $1.20 during midday trading on Friday, reaching $522.04. 15,514,819 shares of the company were exchanged, compared to its average volume of 19,782,852. The stock's 50-day moving average price is $496.85 and its 200-day moving average price is $438.17. The stock has a market cap of $3.88 trillion, a P/E ratio of 38.27, a PEG ratio of 2.29 and a beta of 1.06. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.12. Microsoft Corporation has a one year low of $344.79 and a one year high of $555.45.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The software giant reported $3.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.35 by $0.30. The business had revenue of $76.44 billion during the quarter, compared to analysts' expectations of $73.79 billion. Microsoft had a return on equity of 32.44% and a net margin of 36.15%. The business's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.95 EPS. On average, sell-side analysts anticipate that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a $0.83 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Microsoft's payout ratio is currently 24.34%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of Microsoft from $600.00 to $675.00 and gave the company a "buy" rating in a report on Thursday, July 31st. TD Securities upped their price target on shares of Microsoft from $475.00 to $490.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Scotiabank raised their price objective on shares of Microsoft from $500.00 to $650.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Royal Bank Of Canada increased their target price on Microsoft from $525.00 to $640.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Oppenheimer boosted their price target on Microsoft from $600.00 to $630.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $609.86.

Insider Buying and Selling at Microsoft

In other Microsoft news, EVP Amy Coleman sold 13,243 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $452.01, for a total value of $5,985,968.43. Following the sale, the executive vice president owned 43,100 shares in the company, valued at approximately $19,481,631. The trade was a 23.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kathleen T. Hogan sold 21,500 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $453.77, for a total value of $9,756,055.00. Following the transaction, the executive vice president owned 134,888 shares of the company's stock, valued at $61,208,127.76. This trade represents a 13.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,743 shares of company stock worth $24,921,913. Company insiders own 0.03% of the company's stock.

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.