New Millennium Group LLC Reduces Stake in Microsoft Corporation (NASDAQ:MSFT)

New Millennium Group LLC decreased its position in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) by 37.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,859 shares of the software giant's stock after selling 17,181 shares during the quarter. Microsoft accounts for approximately 7.1% of New Millennium Group LLC's investment portfolio, making the stock its 4th largest position. New Millennium Group LLC's holdings in Microsoft were worth $10,834,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. WFA Asset Management Corp raised its stake in Microsoft by 27.0% during the first quarter. WFA Asset Management Corp now owns 1,016 shares of the software giant's stock worth $427,000 after acquiring an additional 216 shares in the last quarter. Ironwood Wealth Management LLC. raised its stake in Microsoft by 0.3% during the second quarter. Ironwood Wealth Management LLC. now owns 12,658 shares of the software giant's stock worth $5,658,000 after acquiring an additional 38 shares in the last quarter. Discipline Wealth Solutions LLC raised its stake in Microsoft by 410.4% during the third quarter. Discipline Wealth Solutions LLC now owns 2,659 shares of the software giant's stock worth $1,144,000 after acquiring an additional 2,138 shares in the last quarter. Wealth Group Ltd. raised its stake in Microsoft by 1.2% during the fourth quarter. Wealth Group Ltd. now owns 2,374 shares of the software giant's stock worth $1,000,000 after acquiring an additional 28 shares in the last quarter. Finally, Tallon Kerry Patrick acquired a new position in Microsoft during the fourth quarter worth about $1,375,000. Institutional investors own 71.13% of the company's stock.

Microsoft Stock Down 0.0%

Shares of MSFT traded down $0.20 during trading hours on Wednesday, reaching $505.62. The stock had a trading volume of 15,138,821 shares, compared to its average volume of 21,611,389. Microsoft Corporation has a 12 month low of $344.79 and a 12 month high of $508.30. The firm has a 50-day simple moving average of $473.43 and a 200 day simple moving average of $426.73. The company has a current ratio of 1.37, a quick ratio of 1.36 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $3.76 trillion, a price-to-earnings ratio of 39.07, a P/E/G ratio of 2.28 and a beta of 1.04.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The software giant reported $3.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.24. Microsoft had a return on equity of 32.74% and a net margin of 35.79%. The company had revenue of $70.07 billion for the quarter, compared to analysts' expectations of $68.54 billion. During the same period last year, the business earned $2.94 EPS. Microsoft's quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts predict that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors 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 dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, August 21st. Microsoft's dividend payout ratio is currently 25.66%.

Insider Buying and Selling

In other Microsoft news, EVP Judson Althoff sold 16,000 shares of the firm's stock in a transaction 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 directly owned 98,010 shares in the company, valued at approximately $44,906,221.80. This trade represents a 14.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradford L. Smith sold 75,000 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $436.05, for a total value of $32,703,750.00. Following the transaction, the insider owned 476,999 shares in the company, valued at approximately $207,995,413.95. This trade represents a 13.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,743 shares of company stock worth $60,224,683 over the last quarter. Corporate insiders own 0.03% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on MSFT. Raymond James Financial boosted their target price on Microsoft from $480.00 to $490.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Piper Sandler upped their price objective on Microsoft from $475.00 to $600.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Oppenheimer raised Microsoft from a "market perform" rating to an "outperform" rating and set a $600.00 price objective for the company in a research note on Wednesday, July 9th. Wells Fargo & Company upped their price objective on Microsoft from $565.00 to $585.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $525.00 price objective on shares of Microsoft in a research note on Friday, May 23rd. Four research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $538.04.

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.