E Fund Management Hong Kong Co. Ltd. Sells 1,091 Shares of Microsoft Co. (NASDAQ:MSFT)

E Fund Management Hong Kong Co. Ltd. trimmed its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 65.4% in the 2nd quarter, Holdings Channel reports. The firm owned 578 shares of the software giant’s stock after selling 1,091 shares during the period. Microsoft accounts for approximately 0.2% of E Fund Management Hong Kong Co. Ltd.’s holdings, making the stock its 27th biggest position. E Fund Management Hong Kong Co. Ltd.’s holdings in Microsoft were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Friedenthal Financial bought a new position in Microsoft in the 4th quarter worth $45,000. Neo Ivy Capital Management purchased a new stake in Microsoft in the 4th quarter worth approximately $58,000. 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 worth $59,000 after acquiring an additional 129 shares during the period. PayPay Securities Corp lifted its holdings in Microsoft by 23.7% during the fourth quarter. PayPay Securities Corp now owns 188 shares of the software giant’s stock valued at $71,000 after purchasing an additional 36 shares in the last quarter. Finally, Bellevue Group AG boosted its position in shares of Microsoft by 47.5% in the first 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. Institutional investors own 71.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Bank of America raised their price target on Microsoft from $480.00 to $510.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Truist Financial reiterated a “buy” rating and set a $600.00 price objective on shares of Microsoft in a research report on Monday, June 17th. TD Cowen upped their target price on shares of Microsoft from $470.00 to $495.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley reduced their price target on shares of Microsoft from $520.00 to $506.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, New Street Research started coverage on shares of Microsoft in a report on Monday, June 10th. They set a “buy” rating and a $570.00 price objective for the company. Two research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $494.72.

Microsoft Trading Up 1.0 %

Shares of MSFT opened at $417.14 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $3.10 trillion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.11 and a beta of 0.90. The company has a 50-day moving average of $431.69 and a 200 day moving average of $422.89. Microsoft Co. has a 1-year low of $309.45 and a 1-year high of $468.35.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.05. The business had revenue of $64.73 billion for the quarter, compared to the consensus estimate of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.69 EPS. On average, research analysts expect that Microsoft Co. will post 13.04 EPS for the current year.

Microsoft Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.00 annualized dividend and a dividend yield of 0.72%. Microsoft’s payout ratio is presently 25.97%.

Insider Activity

In related news, CEO Satya Nadella sold 14,398 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $417.41, for a total value of $6,009,869.18. Following the completion of the transaction, the chief executive officer now owns 786,933 shares of the company’s stock, valued at $328,473,703.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.