Intact Investment Management Inc. Acquires 5,100 Shares of Microsoft Corporation (NASDAQ:MSFT)

Key Points

• Intact Investment Management Inc. increased its holdings in Microsoft by 7.0%, owning a total of 77,500 shares valued at approximately $29 million after buying an additional 5,100 shares.
• In the most recent quarter, Microsoft reported a net revenue of $70.07 billion and an EPS of $3.46, surpassing analysts' expectations.
• Microsoft declared a quarterly dividend of $0.83 per share, with a dividend yield of 0.65%, to be paid on September 11th.

Intact Investment Management Inc. boosted its holdings in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,500 shares of the software giant's stock after acquiring an additional 5,100 shares during the period. Microsoft makes up approximately 1.0% of Intact Investment Management Inc.'s investment portfolio, making the stock its 26th largest holding. Intact Investment Management Inc.'s holdings in Microsoft were worth $29,093,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MSFT. Fosun International Ltd lifted its position in shares of Microsoft by 0.3% in the first quarter. Fosun International Ltd now owns 6,633 shares of the software giant's stock worth $2,490,000 after purchasing an additional 23 shares in the last quarter. Retirement Financial Solutions LLC lifted its position in Microsoft by 2.3% during the 4th quarter. Retirement Financial Solutions LLC now owns 1,050 shares of the software giant's stock worth $443,000 after buying an additional 24 shares in the last quarter. Kuhn & Co Investment Counsel boosted its stake in shares of Microsoft by 0.8% during the 4th quarter. Kuhn & Co Investment Counsel now owns 3,286 shares of the software giant's stock worth $1,385,000 after buying an additional 25 shares during the last quarter. Alliance Wealth Management Group boosted its stake in shares of Microsoft by 0.4% during the 4th quarter. Alliance Wealth Management Group now owns 5,617 shares of the software giant's stock worth $2,368,000 after buying an additional 25 shares during the last quarter. Finally, Guidance Point Advisors LLC grew its holdings in shares of Microsoft by 0.6% in the 4th quarter. Guidance Point Advisors LLC now owns 4,294 shares of the software giant's stock valued at $1,811,000 after acquiring an additional 25 shares in the last quarter. 71.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MSFT has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Microsoft from $480.00 to $550.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price objective on Microsoft from $465.00 to $475.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Sanford C. Bernstein boosted their target price on shares of Microsoft from $540.00 to $637.00 and gave the stock an "outperform" rating in a report on Thursday. Raymond James Financial increased their price target on shares of Microsoft from $490.00 to $570.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Oppenheimer boosted their price objective on shares of Microsoft from $600.00 to $630.00 and gave the stock an "outperform" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to MarketBeat.com, Microsoft has a consensus rating of "Moderate Buy" and an average price target of $609.86.

Microsoft Price Performance

NASDAQ:MSFT traded down $9.39 during trading hours on Friday, reaching $524.11. 28,948,527 shares of the company were exchanged, compared to its average volume of 22,441,598. The business has a 50 day moving average of $488.46 and a 200 day moving average of $434.13. Microsoft Corporation has a 1-year low of $344.79 and a 1-year high of $555.45. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.37 and a quick ratio of 1.36. The company has a market capitalization of $3.90 trillion, a P/E ratio of 38.42, a P/E/G ratio of 2.33 and a beta of 1.04.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The software giant reported $3.65 EPS for the quarter, topping analysts' consensus estimates of $3.35 by $0.30. Microsoft had a return on equity of 33.49% and a net margin of 36.15%. The company had revenue of $76.44 billion for the quarter, compared to analysts' expectations of $73.79 billion. During the same quarter last year, the business earned $2.95 earnings per share. Microsoft's revenue was up 18.1% on a year-over-year basis. Research analysts forecast that Microsoft Corporation will post 13.08 EPS for the current year.

Microsoft Dividend Announcement

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

Insider Buying and Selling at Microsoft

In related news, EVP Amy Coleman sold 13,243 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $452.01, for a total transaction of $5,985,968.43. Following the completion of the sale, the executive vice president directly owned 43,100 shares in the company, valued at $19,481,631. This represents a 23.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $453.77, for a total value of $9,756,055.00. Following the completion of the sale, the executive vice president directly owned 134,888 shares in the company, 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. Insiders have sold a total of 60,743 shares of company stock worth $27,520,933 in the last three months. Company insiders own 0.03% of the company's stock.

Microsoft Company 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.