Microsoft Co. (NASDAQ:MSFT) is CIBC Asset Management Inc’s 4th Largest Position

CIBC Asset Management Inc increased its position in shares of Microsoft Co. (NASDAQ:MSFT) by 5.2% during the third quarter, Holdings Channel reports. The institutional investor owned 2,098,917 shares of the software giant’s stock after buying an additional 103,257 shares during the quarter. Microsoft comprises about 2.9% of CIBC Asset Management Inc’s portfolio, making the stock its 4th largest holding. CIBC Asset Management Inc’s holdings in Microsoft were worth $903,017,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MSFT. Christopher J. Hasenberg Inc lifted its holdings in Microsoft by 169.2% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after buying an additional 44 shares during the last quarter. Quarry LP acquired a new stake in shares of Microsoft during the 2nd quarter worth about $45,000. Innealta Capital LLC purchased a new stake in Microsoft during the second quarter worth approximately $75,000. Carolina Wealth Advisors LLC boosted its holdings in Microsoft by 10.1% in the third quarter. Carolina Wealth Advisors LLC now owns 338 shares of the software giant’s stock valued at $145,000 after purchasing an additional 31 shares in the last quarter. Finally, MayTech Global Investments LLC purchased a new position in Microsoft in the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 71.13% of the company’s stock.

Microsoft Trading Up 1.0 %

Shares of MSFT opened at $429.03 on Tuesday. The firm’s 50-day moving average is $429.32 and its two-hundred day moving average is $426.14. Microsoft Co. has a twelve month low of $385.58 and a twelve month high of $468.35. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.19 trillion, a P/E ratio of 35.40, a PEG ratio of 2.22 and a beta of 0.90.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 earnings per share 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 the consensus estimate of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. Microsoft’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $2.99 EPS. On average, research analysts predict that Microsoft Co. will post 12.92 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a $0.83 dividend. The ex-dividend date is Thursday, February 20th. This represents a $3.32 dividend on an annualized basis and a yield of 0.77%. Microsoft’s payout ratio is 27.39%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MSFT. Wells Fargo & Company restated a “buy” rating on shares of Microsoft in a report on Friday, October 18th. Wedbush restated an “outperform” rating and issued a $550.00 price objective on shares of Microsoft in a research note on Tuesday, November 19th. StockNews.com downgraded Microsoft from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price target on Microsoft from $470.00 to $465.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Loop Capital boosted their price objective on Microsoft from $500.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $512.93.

Insider Buying and Selling at Microsoft

In other Microsoft news, 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 value of $10,425,000.00. Following the transaction, the executive vice president now directly owns 117,294 shares in the company, valued at approximately $48,911,598. This represents a 17.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Takeshi Numoto sold 2,500 shares of Microsoft stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $447.41, for a total transaction of $1,118,525.00. Following the sale, the chief marketing officer now owns 49,352 shares of the company’s stock, valued at approximately $22,080,578.32. This trade represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,200 shares of company stock worth $17,383,892. 0.03% of the stock is owned by corporate 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.