Cary Street Partners Asset Management LLC Has $10.85 Million Stake in Microsoft Co. (NASDAQ:MSFT)

Cary Street Partners Asset Management LLC trimmed its stake in Microsoft Co. (NASDAQ:MSFT) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,204 shares of the software giant’s stock after selling 753 shares during the period. Microsoft comprises approximately 1.4% of Cary Street Partners Asset Management LLC’s investment portfolio, making the stock its 18th biggest position. Cary Street Partners Asset Management LLC’s holdings in Microsoft were worth $10,845,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MSFT. Christopher J. Hasenberg Inc boosted its position in Microsoft by 169.2% during 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 during the last quarter. Quarry LP bought a new stake in Microsoft during the second quarter valued at $45,000. Innealta Capital LLC bought a new stake in Microsoft during the second quarter valued at $75,000. Carolina Wealth Advisors LLC boosted its position in Microsoft by 10.1% during the third quarter. Carolina Wealth Advisors LLC now owns 338 shares of the software giant’s stock valued at $145,000 after acquiring an additional 31 shares during the last quarter. Finally, Bbjs Financial Advisors LLC boosted its position in Microsoft by 241.4% during the second quarter. Bbjs Financial Advisors LLC now owns 379 shares of the software giant’s stock valued at $169,000 after acquiring an additional 268 shares during the last quarter. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on MSFT. DA Davidson cut shares of Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 price target on the stock. in a research report on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $500.00 price objective on shares of Microsoft in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on shares of Microsoft from $470.00 to $465.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus increased their price objective on shares of Microsoft from $475.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Oppenheimer cut shares of Microsoft from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Microsoft presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.90.

Insider Transactions at Microsoft

In other news, EVP Judson Althoff sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 owns 117,294 shares in the company, valued at $48,911,598. This trade represents a 17.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christopher David Young sold 7,200 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 103,366 shares of the company’s stock, valued at approximately $43,792,039.56. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,200 shares of company stock worth $17,383,892 in the last quarter. Insiders own 0.03% of the company’s stock.

Microsoft Trading Up 1.1 %

NASDAQ:MSFT opened at $423.35 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.29 and a current ratio of 1.30. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. Microsoft Co. has a 52 week low of $366.50 and a 52 week high of $468.35. The firm has a 50-day moving average price of $428.62 and a two-hundred day moving average price of $428.08.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, beating the consensus estimate of $3.10 by $0.20. The firm had revenue of $65.59 billion during the quarter, compared to analyst estimates of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $2.99 EPS. On average, equities analysts expect that Microsoft Co. will post 12.93 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.32 annualized dividend and a dividend yield of 0.78%. Microsoft’s payout ratio is currently 27.39%.

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

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.