ICICI Prudential Asset Management Co Ltd Lowers Stock Position in Microsoft Co. (NASDAQ:MSFT)

ICICI Prudential Asset Management Co Ltd trimmed its position in Microsoft Co. (NASDAQ:MSFT - Free Report) by 10.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,860 shares of the software giant's stock after selling 10,721 shares during the period. Microsoft accounts for about 4.4% of ICICI Prudential Asset Management Co Ltd's investment portfolio, making the stock its 5th biggest holding. ICICI Prudential Asset Management Co Ltd's holdings in Microsoft were worth $40,405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MSFT. Fiduciary Advisors Inc. acquired a new stake in Microsoft in the fourth quarter worth $38,000. IFS Advisors LLC grew its position in shares of Microsoft by 53.8% during the fourth quarter. IFS Advisors LLC now owns 100 shares of the software giant's stock worth $42,000 after acquiring an additional 35 shares during the last quarter. Avondale Wealth Management increased its holdings in shares of Microsoft by 144.4% in 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 stake in Microsoft in the 3rd quarter valued at about $62,000. Finally, Kieckhefer Group LLC acquired a new position in Microsoft during the 4th quarter valued at about $141,000. Institutional investors and hedge funds own 71.13% of the company's stock.

Microsoft Stock Up 1.2 %

MSFT traded up $4.55 during midday trading on Friday, hitting $391.85. 18,959,931 shares of the company's stock traded hands, compared to its average volume of 21,169,050. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34. The company has a market cap of $2.91 trillion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 2.21 and a beta of 1.00. Microsoft Co. has a one year low of $344.79 and a one year high of $468.35. The stock's fifty day simple moving average is $384.93 and its 200-day simple moving average is $411.34.

Microsoft (NASDAQ:MSFT - Get Free Report) last announced its earnings results on Wednesday, January 29th. The software giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.15 by $0.08. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. During the same quarter in the previous year, the company earned $2.93 earnings per share. As a group, equities analysts anticipate that Microsoft Co. will post 13.08 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, May 15th. Microsoft's dividend payout ratio is currently 26.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MSFT shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $509.00 price target on shares of Microsoft in a report on Wednesday, January 29th. The Goldman Sachs Group reduced their price target on Microsoft from $500.00 to $450.00 and set a "buy" rating for the company in a research report on Thursday. StockNews.com lowered Microsoft from a "buy" rating to a "hold" rating in a report on Friday, February 28th. BMO Capital Markets decreased their target price on shares of Microsoft from $490.00 to $470.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, Wedbush dropped their price target on shares of Microsoft from $550.00 to $475.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $493.89.

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.