Microsoft Co. (NASDAQ:MSFT) Stock Position Cut by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 4.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,991 shares of the software giant’s stock after selling 3,328 shares during the quarter. Microsoft makes up approximately 2.9% of Icon Wealth Advisors LLC’s portfolio, making the stock its 6th biggest position. Icon Wealth Advisors LLC’s holdings in Microsoft were worth $34,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its stake in shares of Microsoft by 35.7% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 95 shares of the software giant’s stock worth $39,000 after buying an additional 25 shares during the last quarter. Quarry LP purchased a new stake in Microsoft during the 2nd quarter worth about $45,000. MidAtlantic Capital Management Inc. purchased a new stake in Microsoft during the 3rd quarter worth about $62,000. Carolina Wealth Advisors LLC increased its position in Microsoft by 10.1% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 338 shares of the software giant’s stock worth $145,000 after purchasing an additional 31 shares in the last quarter. Finally, MayTech Global Investments LLC purchased a new stake in Microsoft during the 2nd quarter worth about $200,000. 71.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MSFT has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $509.00 price target on shares of Microsoft in a report on Wednesday, January 29th. Loop Capital lifted their price target on Microsoft from $500.00 to $550.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Piper Sandler reiterated an “overweight” rating and set a $520.00 target price on shares of Microsoft in a report on Monday, January 27th. Stifel Nicolaus boosted their price target on Microsoft from $475.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group cut their target price on Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, Microsoft currently has a consensus rating of “Moderate Buy” and a consensus target price of $510.96.

Microsoft Stock Down 1.0 %

MSFT opened at $410.92 on Tuesday. The company has a market capitalization of $3.05 trillion, a PE ratio of 33.09, a PEG ratio of 2.21 and a beta of 0.90. Microsoft Co. has a 1-year low of $385.58 and a 1-year high of $468.35. The firm’s 50 day simple moving average is $432.53 and its two-hundred day simple moving average is $424.44. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.13.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Wednesday, January 29th. The software giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.08. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. During the same quarter last year, the firm earned $2.93 earnings per share. As a group, equities analysts forecast that Microsoft Co. will post 13.03 EPS for the current year.

Microsoft Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, February 20th. Microsoft’s dividend payout ratio (DPR) is 26.73%.

Insider Buying and Selling

In other Microsoft news, CMO Takeshi Numoto sold 1,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $414.72, for a total value of $414,720.00. Following the sale, the chief marketing officer now directly owns 57,511 shares of the company’s stock, valued at approximately $23,850,961.92. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Judson Althoff sold 25,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 117,294 shares in the company, valued at approximately $48,911,598. This represents a 17.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,200 shares of company stock worth $17,383,892 in the last three months. 0.03% of the stock is owned by 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.