Impax Asset Management Group plc Sells 273,263 Shares of Microsoft Co. (NASDAQ:MSFT)

Impax Asset Management Group plc reduced its holdings in Microsoft Co. (NASDAQ:MSFT) by 9.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,776,866 shares of the software giant’s stock after selling 273,263 shares during the period. Microsoft comprises approximately 5.1% of Impax Asset Management Group plc’s portfolio, making the stock its largest holding. Impax Asset Management Group plc’s holdings in Microsoft were worth $1,239,622,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Rebalance LLC increased its position in shares of Microsoft by 0.7% in the second quarter. Rebalance LLC now owns 3,451 shares of the software giant’s stock worth $1,542,000 after acquiring an additional 24 shares in the last quarter. First National Bank Sioux Falls boosted its stake in Microsoft by 0.4% in the 2nd quarter. First National Bank Sioux Falls now owns 6,340 shares of the software giant’s stock worth $2,834,000 after purchasing an additional 24 shares during the period. Partnership Wealth Management LLC grew its position in Microsoft by 0.4% during the 1st quarter. Partnership Wealth Management LLC now owns 6,202 shares of the software giant’s stock worth $2,609,000 after purchasing an additional 25 shares in the last quarter. Doheny Asset Management CA raised its stake in Microsoft by 0.4% during the 1st quarter. Doheny Asset Management CA now owns 6,397 shares of the software giant’s stock valued at $2,691,000 after purchasing an additional 25 shares during the period. Finally, Flagship Private Wealth LLC lifted its holdings in shares of Microsoft by 2.8% in the second quarter. Flagship Private Wealth LLC now owns 913 shares of the software giant’s stock valued at $408,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 71.13% of the company’s stock.

Microsoft Trading Up 0.3 %

Microsoft stock opened at $418.16 on Monday. Microsoft Co. has a 52 week low of $324.39 and a 52 week high of $468.35. 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 firm has a market capitalization of $3.11 trillion, a PE ratio of 36.20, a PEG ratio of 2.22 and a beta of 0.90. The business’s 50-day simple moving average is $419.66 and its 200-day simple moving average is $424.54.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 EPS for the quarter, topping the consensus estimate of $2.90 by $0.05. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The company had revenue of $64.73 billion for the quarter, compared to the consensus estimate of $64.38 billion. During the same period in the previous year, the business posted $2.69 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities research analysts forecast that Microsoft Co. will post 13.02 earnings per share for the current year.

Microsoft Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.79%. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, November 21st. Microsoft’s dividend payout ratio (DPR) is currently 28.74%.

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

Analyst Ratings Changes

Several research firms recently weighed in on MSFT. The Goldman Sachs Group dropped their price target on Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. UBS Group decreased their price target on shares of Microsoft from $520.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $500.00 price objective on shares of Microsoft in a research note on Wednesday, July 31st. Morgan Stanley reissued an “overweight” rating and set a $506.00 target price on shares of Microsoft in a research note on Tuesday, September 17th. Finally, Piper Sandler dropped their price target on shares of Microsoft from $485.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $495.68.

Insider Transactions at Microsoft

In related news, insider Bradford L. Smith sold 40,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $402.59, for a total value of $16,103,600.00. Following the completion of the sale, the insider now owns 544,847 shares in the company, valued at approximately $219,349,953.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Amy Hood sold 38,000 shares of Microsoft stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $410.55, for a total transaction of $15,600,900.00. Following the sale, the chief financial officer now directly owns 496,369 shares in the company, valued at approximately $203,784,292.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradford L. Smith sold 40,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $402.59, for a total transaction of $16,103,600.00. Following the completion of the transaction, the insider now directly owns 544,847 shares of the company’s stock, valued at $219,349,953.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,629 shares of company stock worth $77,916,485. 0.03% of the stock is currently owned by company insiders.

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.