Microsoft Co. (NASDAQ:MSFT) is Mattern Capital Management LLC’s 2nd Largest Position

Mattern Capital Management LLC cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,541 shares of the software giant’s stock after selling 244 shares during the quarter. Microsoft accounts for about 2.4% of Mattern Capital Management LLC’s investment portfolio, making the stock its 2nd largest holding. Mattern Capital Management LLC’s holdings in Microsoft were worth $17,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MSFT. New Harbor Financial Group LLC lifted its holdings in Microsoft by 55.9% in the 2nd quarter. New Harbor Financial Group LLC now owns 1,255 shares of the software giant’s stock worth $561,000 after buying an additional 450 shares during the period. Czech National Bank lifted its holdings in Microsoft by 0.4% in the 1st quarter. Czech National Bank now owns 1,307,487 shares of the software giant’s stock worth $550,086,000 after buying an additional 5,253 shares during the period. True Link Financial Advisors LLC lifted its holdings in Microsoft by 296.7% in the 1st quarter. True Link Financial Advisors LLC now owns 3,027 shares of the software giant’s stock worth $1,274,000 after buying an additional 2,264 shares during the period. AMG National Trust Bank lifted its holdings in Microsoft by 19.0% in the 2nd quarter. AMG National Trust Bank now owns 81,502 shares of the software giant’s stock worth $36,427,000 after buying an additional 12,994 shares during the period. Finally, Spinnaker Investment Group LLC lifted its holdings in Microsoft by 2.7% in the 1st quarter. Spinnaker Investment Group LLC now owns 12,521 shares of the software giant’s stock worth $5,268,000 after buying an additional 326 shares during the period. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Satya Nadella sold 78,353 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total value of $32,017,386.39. Following the transaction, the chief executive officer now directly owns 864,327 shares in the company, valued at $353,189,942.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Amy Hood sold 38,000 shares of Microsoft stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $410.55, for a total value of $15,600,900.00. Following the sale, the chief financial officer now directly owns 496,369 shares of the company’s stock, valued at approximately $203,784,292.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Satya Nadella sold 78,353 shares of Microsoft stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total value of $32,017,386.39. Following the completion of the sale, the chief executive officer now directly owns 864,327 shares in the company, valued at $353,189,942.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 190,629 shares of company stock worth $77,916,485 over the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Microsoft Price Performance

NASDAQ MSFT opened at $418.16 on Friday. The company has a market capitalization of $3.11 trillion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.27 and a current ratio of 1.27. The business’s fifty day moving average is $419.66 and its 200 day moving average is $424.49. Microsoft Co. has a fifty-two week low of $324.39 and a fifty-two week high of $468.35.

Microsoft (NASDAQ:MSFT) last released its earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.05. The company 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%. Microsoft’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 earnings per share. Sell-side analysts predict that Microsoft Co. will post 13.02 earnings per share for the current year.

Microsoft announced that its Board of Directors has initiated a stock buyback program on Monday, September 16th that permits the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization permits the software giant to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Microsoft Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.79%. This is an increase from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, November 21st. Microsoft’s payout ratio is presently 28.74%.

Analyst Upgrades and Downgrades

MSFT has been the subject of several research analyst reports. Wedbush reiterated an “underperform” rating on shares of Microsoft in a report on Friday. DA Davidson lowered Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 target price for the company. in a research report on Monday, September 23rd. Oppenheimer lowered Microsoft from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 8th. TD Cowen increased their target price on Microsoft from $470.00 to $495.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Citigroup decreased their target price on Microsoft from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $495.68.

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.