Oppenheimer Asset Management Inc. Has $248.25 Million Stock Position in Microsoft Corporation (NASDAQ:MSFT)

Key Points

• Oppenheimer Asset Management Inc. has reduced its stake in Microsoft Corporation by 1.2%, holding 661,318 shares valued at approximately $248.25 million, making it the firm's largest position.
• Microsoft's recent quarterly earnings report showed $3.65 earnings per share, exceeding estimates, with a revenue increase of 18.1% year-over-year to $76.44 billion.
• Analysts have maintained a positive stance on Microsoft, with an average price target increase to $609.86 and a consensus rating of "Moderate Buy".

Oppenheimer Asset Management Inc. cut its stake in Microsoft Corporation (NASDAQ:MSFT - Free Report) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 661,318 shares of the software giant's stock after selling 7,946 shares during the period. Microsoft makes up approximately 3.1% of Oppenheimer Asset Management Inc.'s holdings, making the stock its biggest position. Oppenheimer Asset Management Inc.'s holdings in Microsoft were worth $248,252,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Newton One Investments LLC lifted its holdings in Microsoft by 66.7% during the 1st quarter. Newton One Investments LLC now owns 75 shares of the software giant's stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Ball & Co Wealth Management Inc. bought a new position in Microsoft during the 4th quarter valued at about $31,000. LSV Asset Management bought a new position in Microsoft during the 4th quarter valued at about $44,000. IFS Advisors LLC lifted its holdings in Microsoft by 50.0% during the 1st quarter. IFS Advisors LLC now owns 150 shares of the software giant's stock valued at $57,000 after purchasing an additional 50 shares during the last quarter. Finally, Fairway Wealth LLC bought a new position in Microsoft during the 4th quarter valued at about $62,000. 71.13% of the stock is owned by institutional investors.

Microsoft Stock Down 1.8%

Shares of NASDAQ:MSFT opened at $524.11 on Friday. The company has a 50 day moving average of $489.94 and a 200-day moving average of $434.88. Microsoft Corporation has a one year low of $344.79 and a one year high of $555.45. The stock has a market cap of $3.90 trillion, a price-to-earnings ratio of 38.42, a P/E/G ratio of 2.39 and a beta of 1.06. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.35 and a quick ratio of 1.36.

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, topping the consensus estimate of $3.35 by $0.30. Microsoft had a net margin of 36.15% and a return on equity of 32.44%. The business had revenue of $76.44 billion for the quarter, compared to analyst estimates of $73.79 billion. During the same quarter last year, the firm earned $2.95 EPS. Microsoft's quarterly revenue was up 18.1% compared to the same quarter last year. On average, sell-side analysts forecast that Microsoft Corporation will post 13.08 earnings per share for the current year.

Microsoft Announces Dividend

The company 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 dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $3.32 annualized dividend and a yield of 0.6%. Microsoft's dividend payout ratio (DPR) is presently 24.34%.

Insider Buying and Selling at Microsoft

In related news, 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 transaction of $5,985,968.43. Following the transaction, the executive vice president owned 43,100 shares of the company's stock, valued at $19,481,631. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradford L. Smith sold 6,000 shares of Microsoft stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $433.17, for a total transaction of $2,599,020.00. Following the transaction, the insider directly owned 471,036 shares in the company, valued at $204,038,664.12. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,743 shares of company stock worth $27,520,933 over the last ninety days. 0.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MSFT shares. The Goldman Sachs Group lifted their price target on shares of Microsoft from $480.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Raymond James Financial lifted their price target on shares of Microsoft from $490.00 to $570.00 and gave the company an "outperform" rating in a report on Monday, July 28th. TD Securities lifted their price target on shares of Microsoft from $475.00 to $490.00 and gave the company a "buy" rating in a report on Thursday, May 1st. BMO Capital Markets lifted their price target on shares of Microsoft from $550.00 to $650.00 and gave the company an "outperform" rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Microsoft from $465.00 to $475.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $609.86.

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.

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