Legacy CG LLC Sells 901 Shares of Microsoft Co. (NASDAQ:MSFT)

Legacy CG LLC lowered its position in Microsoft Co. (NASDAQ:MSFT) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,810 shares of the software giant’s stock after selling 901 shares during the quarter. Microsoft accounts for about 2.4% of Legacy CG LLC’s holdings, making the stock its 11th largest position. Legacy CG LLC’s holdings in Microsoft were worth $6,652,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. PFG Investments LLC lifted its position in shares of Microsoft by 185.1% in the 1st quarter. PFG Investments LLC now owns 130,983 shares of the software giant’s stock worth $55,107,000 after acquiring an additional 85,043 shares during the period. Provident Wealth Management LLC lifted its position in shares of Microsoft by 6.0% in the 1st quarter. Provident Wealth Management LLC now owns 1,955 shares of the software giant’s stock worth $823,000 after acquiring an additional 111 shares during the period. Family Investment Center Inc. lifted its position in shares of Microsoft by 7.6% in the 1st quarter. Family Investment Center Inc. now owns 1,756 shares of the software giant’s stock worth $739,000 after acquiring an additional 124 shares during the period. Oakworth Capital Inc. lifted its position in shares of Microsoft by 2.8% during the 1st quarter. Oakworth Capital Inc. now owns 47,259 shares of the software giant’s stock worth $19,883,000 after buying an additional 1,301 shares during the period. Finally, Horst & Graben Wealth Management LLC lifted its position in shares of Microsoft by 42.2% during the 1st quarter. Horst & Graben Wealth Management LLC now owns 6,144 shares of the software giant’s stock worth $2,585,000 after buying an additional 1,824 shares during the period. Institutional investors own 71.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MSFT. KeyCorp began coverage on Microsoft in a research report on Thursday, March 21st. They set an “overweight” rating and a $490.00 target price for the company. Barclays raised their target price on Microsoft from $421.00 to $475.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. StockNews.com downgraded Microsoft from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Truist Financial restated a “buy” rating and set a $600.00 target price on shares of Microsoft in a research report on Monday, March 25th. Finally, The Goldman Sachs Group raised their target price on Microsoft from $450.00 to $515.00 and gave the stock a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, Microsoft currently has an average rating of “Moderate Buy” and an average target price of $452.61.

Insiders Place Their Bets

In other Microsoft news, insider Bradford L. Smith sold 45,000 shares of Microsoft stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $411.78, for a total transaction of $18,530,100.00. Following the transaction, the insider now directly owns 574,129 shares in the company, valued at $236,414,839.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Microsoft news, insider Bradford L. Smith sold 45,000 shares of Microsoft stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $411.78, for a total transaction of $18,530,100.00. Following the transaction, the insider now directly owns 574,129 shares in the company, valued at $236,414,839.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kathleen T. Hogan sold 21,955 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $403.96, for a total value of $8,868,941.80. Following the completion of the sale, the executive vice president now owns 159,764 shares in the company, valued at $64,538,265.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,070,258 shares of company stock worth $30,690,456. Corporate insiders own 0.03% of the company’s stock.

Microsoft Trading Down 3.2 %

Shares of Microsoft stock traded down $12.92 during trading on Tuesday, reaching $389.33. 28,721,275 shares of the company were exchanged, compared to its average volume of 22,169,949. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.17. Microsoft Co. has a twelve month low of $303.40 and a twelve month high of $430.82. The business has a 50-day moving average price of $414.18 and a 200-day moving average price of $389.44. The firm has a market capitalization of $2.89 trillion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 2.18 and a beta of 0.89.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Thursday, April 25th. The software giant reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. The business had revenue of $61.86 billion during the quarter, compared to analysts’ expectations of $60.86 billion. Microsoft had a return on equity of 37.54% and a net margin of 36.43%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.45 earnings per share. Sell-side analysts anticipate that Microsoft Co. will post 11.71 EPS for the current fiscal year.

Microsoft Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, May 15th. This represents a $3.00 annualized dividend and a yield of 0.77%. Microsoft’s dividend payout ratio is presently 25.97%.

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.