Microsoft Co. (NASDAQ:MSFT) is Prossimo Advisors LLC’s Largest Position

Prossimo Advisors LLC lifted its holdings in Microsoft Co. (NASDAQ:MSFT) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,435 shares of the software giant’s stock after buying an additional 75 shares during the quarter. Microsoft accounts for 6.4% of Prossimo Advisors LLC’s portfolio, making the stock its biggest holding. Prossimo Advisors LLC’s holdings in Microsoft were worth $8,793,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSFT. International Assets Investment Management LLC grew its position in Microsoft by 48,526.1% during the third quarter. International Assets Investment Management LLC now owns 38,501,645 shares of the software giant’s stock worth $16,567,258,000 after buying an additional 38,422,466 shares during the period. Wulff Hansen & CO. boosted its stake in shares of Microsoft by 47,196.6% during the 2nd quarter. Wulff Hansen & CO. now owns 4,834,658 shares of the software giant’s stock worth $2,160,850,000 after acquiring an additional 4,824,436 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Microsoft by 67.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,963,863 shares of the software giant’s stock worth $2,566,250,000 after acquiring an additional 2,404,348 shares during the period. AustralianSuper Pty Ltd increased its stake in Microsoft by 56.9% in the 3rd quarter. AustralianSuper Pty Ltd now owns 5,344,566 shares of the software giant’s stock valued at $2,299,767,000 after purchasing an additional 1,938,304 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in Microsoft by 31,648.5% during the second quarter. Strategic Financial Concepts LLC now owns 1,871,892 shares of the software giant’s stock worth $8,366,000 after purchasing an additional 1,865,996 shares during the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. TD Cowen lowered their target price on Microsoft from $495.00 to $475.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Sanford C. Bernstein lowered their price objective on shares of Microsoft from $501.00 to $500.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Truist Financial restated a “buy” rating and set a $600.00 target price on shares of Microsoft in a research report on Monday, October 28th. Citigroup lowered their price target on shares of Microsoft from $500.00 to $497.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and set a $550.00 price objective on shares of Microsoft in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, Microsoft has a consensus rating of “Moderate Buy” and an average target price of $509.90.

Microsoft Stock Down 0.7 %

Shares of Microsoft stock opened at $418.58 on Friday. Microsoft Co. has a 1-year low of $366.50 and a 1-year high of $468.35. The company has a market capitalization of $3.11 trillion, a P/E ratio of 34.54, a PEG ratio of 2.37 and a beta of 0.90. The business’s fifty day moving average price is $428.83 and its two-hundred day moving average price is $428.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.30 and a quick ratio of 1.29.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.20. The business had revenue of $65.59 billion during the quarter, compared to the consensus estimate of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.99 earnings per share. As a group, research analysts forecast that Microsoft Co. will post 12.93 EPS for the current year.

Microsoft Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Thursday, February 20th. Microsoft’s payout ratio is currently 27.39%.

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 outstanding shares. This repurchase authorization authorizes the software giant to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, EVP Christopher David Young sold 7,200 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total transaction of $3,050,352.00. Following the completion of the transaction, the executive vice president now owns 103,366 shares of the company’s stock, valued at $43,792,039.56. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Judson Althoff sold 25,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $417.00, for a total transaction of $10,425,000.00. Following the completion of the sale, the executive vice president now directly owns 117,294 shares of the company’s stock, valued at $48,911,598. The trade was a 17.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,200 shares of company stock worth $17,383,892. 0.03% of the stock is owned by company insiders.

Microsoft 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.