Microsoft Co. (NASDAQ:MSFT) is Legacy Bridge LLC’s 4th Largest Position

Legacy Bridge LLC reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,632 shares of the software giant’s stock after selling 118 shares during the period. Microsoft accounts for 2.3% of Legacy Bridge LLC’s portfolio, making the stock its 4th biggest holding. Legacy Bridge LLC’s holdings in Microsoft were worth $3,858,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MSFT. Christopher J. Hasenberg Inc lifted its position in shares of Microsoft by 169.2% in the second quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock valued at $31,000 after acquiring an additional 44 shares in the last quarter. Richardson Capital Management LLC raised its stake in Microsoft by 1,290.0% during the 1st quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock valued at $59,000 after purchasing an additional 129 shares during the period. Innealta Capital LLC purchased a new position in Microsoft in the 2nd quarter worth approximately $75,000. Bellevue Group AG boosted its stake in Microsoft by 47.5% in the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after purchasing an additional 58 shares during the period. Finally, Horizon Financial Services LLC purchased a new stake in Microsoft during the 1st quarter valued at approximately $80,000. 71.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MSFT has been the subject of a number of research reports. UBS Group dropped their target price on shares of Microsoft from $520.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. TD Cowen increased their price objective on shares of Microsoft from $470.00 to $495.00 and gave the company a “buy” rating in a report on Thursday, July 18th. DA Davidson cut Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 target price on the stock. in a report on Monday, September 23rd. BMO Capital Markets boosted their target price on Microsoft from $465.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Finally, Mizuho raised their price target on Microsoft from $450.00 to $480.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $495.58.

Microsoft Stock Performance

MSFT stock opened at $424.60 on Thursday. The firm has a market cap of $3.16 trillion, a price-to-earnings ratio of 36.76, a PEG ratio of 2.22 and a beta of 0.90. Microsoft Co. has a twelve month low of $326.94 and a twelve month high of $468.35. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $420.33 and its two-hundred day simple moving average is $424.56.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Tuesday, July 30th. The software giant reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.05. The company had revenue of $64.73 billion during the quarter, compared to analyst estimates of $64.38 billion. Microsoft had a net margin of 35.96% and a return on equity of 35.95%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the business posted $2.69 EPS. Analysts predict that Microsoft Co. will post 13.02 earnings per share for the current year.

Microsoft Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.83 per share. The ex-dividend date is Thursday, November 21st. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 dividend on an annualized basis and a yield of 0.78%. Microsoft’s payout ratio is 28.74%.

Microsoft declared that its board has initiated a stock repurchase plan on Monday, September 16th that permits the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization permits the software giant to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Microsoft

In other Microsoft news, CEO Satya Nadella sold 78,353 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the sale, the chief executive officer now owns 864,327 shares of the company’s stock, valued at approximately $353,189,942.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Microsoft news, CMO Takeshi Numoto sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $411.04, for a total value of $1,027,600.00. Following the completion of the sale, the chief marketing officer now owns 50,000 shares of the company’s stock, valued at approximately $20,552,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Satya Nadella sold 78,353 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the completion of the transaction, the chief executive officer now directly owns 864,327 shares of the company’s stock, valued at $353,189,942.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 190,629 shares of company stock worth $77,916,485 over the last three months. 0.03% of the stock is owned by corporate insiders.

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.