Granite Investment Partners LLC Reduces Stock Position in Microsoft Co. (NASDAQ:MSFT)

Granite Investment Partners LLC decreased its position in shares of Microsoft Co. (NASDAQ:MSFTGet Rating) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 235,485 shares of the software giant’s stock after selling 11,306 shares during the quarter. Microsoft makes up 2.4% of Granite Investment Partners LLC’s holdings, making the stock its largest holding. Granite Investment Partners LLC’s holdings in Microsoft were worth $54,844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Phoenix Wealth Advisors boosted its position in Microsoft by 2.0% during the second quarter. Phoenix Wealth Advisors now owns 17,286 shares of the software giant’s stock valued at $4,440,000 after purchasing an additional 343 shares in the last quarter. Jmac Enterprises LLC raised its stake in Microsoft by 1.0% in the second quarter. Jmac Enterprises LLC now owns 16,798 shares of the software giant’s stock valued at $4,314,000 after buying an additional 169 shares during the last quarter. ARGI Investment Services LLC raised its stake in Microsoft by 9.9% in the second quarter. ARGI Investment Services LLC now owns 37,326 shares of the software giant’s stock valued at $9,586,000 after buying an additional 3,358 shares during the last quarter. First PREMIER Bank raised its stake in Microsoft by 0.3% in the second quarter. First PREMIER Bank now owns 26,082 shares of the software giant’s stock valued at $6,699,000 after buying an additional 79 shares during the last quarter. Finally, Seaview Investment Managers LLC raised its stake in Microsoft by 4.9% in the second quarter. Seaview Investment Managers LLC now owns 26,839 shares of the software giant’s stock valued at $6,893,000 after buying an additional 1,261 shares during the last quarter. Institutional investors own 69.15% of the company’s stock.

Microsoft Stock Down 1.9 %

Shares of MSFT opened at $235.81 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Microsoft Co. has a 12 month low of $213.43 and a 12 month high of $315.95. The stock’s 50 day moving average is $241.83 and its two-hundred day moving average is $250.46. The firm has a market cap of $1.76 trillion, a P/E ratio of 25.41, a PEG ratio of 2.35 and a beta of 0.94.

Microsoft (NASDAQ:MSFTGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, beating the consensus estimate of $2.29 by $0.06. The company had revenue of $50.12 billion for the quarter, compared to analyst estimates of $49.70 billion. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. Microsoft’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $2.27 earnings per share. Analysts predict that Microsoft Co. will post 9.52 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Wednesday, February 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Wednesday, February 15th. Microsoft’s dividend payout ratio is presently 29.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Oppenheimer decreased their price target on Microsoft from $275.00 to $265.00 in a research note on Wednesday, October 26th. StockNews.com assumed coverage on Microsoft in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Macquarie assumed coverage on Microsoft in a research note on Wednesday, November 2nd. They issued a “neutral” rating and a $234.00 price target for the company. Piper Sandler decreased their price target on Microsoft from $265.00 to $247.00 and set an “overweight” rating for the company in a research note on Monday, January 9th. Finally, Moffett Nathanson began coverage on Microsoft in a research note on Thursday, September 22nd. They issued a “hold” rating and a $285.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.15.

Insider Transactions at Microsoft

In other news, EVP Judson Althoff sold 24,144 shares of Microsoft stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $254.27, for a total value of $6,139,094.88. Following the sale, the executive vice president now directly owns 150,047 shares of the company’s stock, valued at $38,152,450.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Microsoft Company Profile

(Get Rating)

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.

See Also

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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