Renaissance Investment Group LLC Has $15.52 Million Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Renaissance Investment Group LLC lowered its stake in Microsoft Co. (NASDAQ:MSFTGet Rating) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 62,751 shares of the software giant’s stock after selling 736 shares during the quarter. Microsoft accounts for 4.8% of Renaissance Investment Group LLC’s portfolio, making the stock its 2nd biggest position. Renaissance Investment Group LLC’s holdings in Microsoft were worth $15,515,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DGS Capital Management LLC increased its stake in shares of Microsoft by 19.9% during the first quarter. DGS Capital Management LLC now owns 14,342 shares of the software giant’s stock valued at $4,422,000 after buying an additional 2,383 shares during the period. IFM Investors Pty Ltd increased its stake in shares of Microsoft by 20.8% during the first quarter. IFM Investors Pty Ltd now owns 1,138,469 shares of the software giant’s stock valued at $351,001,000 after buying an additional 196,338 shares during the period. Altus Wealth Group LLC increased its stake in shares of Microsoft by 1.2% during the first quarter. Altus Wealth Group LLC now owns 12,712 shares of the software giant’s stock valued at $3,919,000 after buying an additional 152 shares during the period. Powell Investment Advisors LLC increased its stake in shares of Microsoft by 16.2% during the first quarter. Powell Investment Advisors LLC now owns 2,578 shares of the software giant’s stock valued at $795,000 after buying an additional 359 shares during the period. Finally, Onyx Bridge Wealth Group LLC increased its stake in shares of Microsoft by 8.2% during the first quarter. Onyx Bridge Wealth Group LLC now owns 6,782 shares of the software giant’s stock valued at $1,921,000 after buying an additional 512 shares during the period. Institutional investors own 69.15% of the company’s stock.

Microsoft Stock Down 0.2 %

MSFT stock opened at $242.04 on Wednesday. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $315.95. The business’s 50-day moving average is $241.72 and its two-hundred day moving average is $249.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 1.84. The company has a market cap of $1.80 trillion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 2.36 and a beta of 0.94.

Microsoft (NASDAQ:MSFTGet Rating) last posted its earnings results on Tuesday, January 24th. The software giant reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.02. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The company had revenue of $52.75 billion for the quarter, compared to the consensus estimate of $53.17 billion. During the same quarter in the prior year, the company earned $2.48 earnings per share. Microsoft’s revenue was up 2.0% on a year-over-year basis. As a group, analysts forecast that Microsoft Co. will post 9.51 earnings per share for the current year.

Microsoft Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, February 15th. Microsoft’s dividend payout ratio (DPR) is currently 29.31%.

Insider Transactions at Microsoft

In other news, EVP Judson Althoff sold 24,144 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 150,047 shares of the company’s stock, valued at $38,152,450.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MSFT. Morgan Stanley reduced their target price on Microsoft from $325.00 to $307.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. StockNews.com cut Microsoft from a “buy” rating to a “hold” rating in a research note on Thursday, January 19th. JPMorgan Chase & Co. set a $275.00 price target on Microsoft in a research note on Tuesday. DA Davidson assumed coverage on Microsoft in a research note on Wednesday, January 4th. They issued a “buy” rating and a $270.00 price target on the stock. Finally, Wolfe Research reduced their price target on Microsoft from $340.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $287.79.

About Microsoft

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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.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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