New Covenant Trust Company NA makes a new $3.38 million investment in Microsoft Co. (NASDAQ:MSFT)

New Covenant Trust Company NA acquired a new stake in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,043 shares of the software giant’s stock, valued at approximately $3,384,000. Microsoft makes up approximately 3.4% of New Covenant Trust Company NA’s investment portfolio, making the stock its 6th largest position.

Other large investors have also recently modified their holdings of the company. Plato Investment Management Ltd boosted its stake in Microsoft by 987.5% in the first quarter. Plato Investment Management Ltd now owns 150,863 shares of the software giant’s stock valued at $63,471,000 after purchasing an additional 136,991 shares during the period. Western Pacific Wealth Management LP boosted its holdings in Microsoft by 2.9% in the first quarter. Western Pacific Wealth Management LP now owns 13,003 shares of the software giant’s stock valued at $5,471,000 after purchasing an additional 367 shares during the last quarter. WealthPlan Investment Management LLC raised its position in shares of Microsoft by 0.4% in the first quarter. WealthPlan Investment Management LLC now owns 21,622 shares of the software giant’s stock valued at $9,097,000 after purchasing an additional 95 shares during the last quarter. Garner Asset Management Corp boosted its holdings in shares of Microsoft by 4.0% in the first quarter. Garner Asset Management Corp now owns 8,920 shares of the software giant’s stock worth $3,753,000 after purchasing an additional 343 shares in the last quarter. Finally, KLCM Advisors Inc. boosted its position in shares of Microsoft by 4.9% in the first quarter. KLCM Advisors Inc. now owns 16,079 shares of the software giant’s stock worth $6,765,000 after purchasing an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 71.13% of the company’s shares.

Microsoft stock performance

Shares of Microsoft stock opened at $415.55 on Friday. Microsoft Co. it has a fifty-two week low of $309.45 and a fifty-two week high of $468.35. The company has a market cap of $3.09 trillion, a PE ratio of 35.98, a P/E/G ratio of 2.11 and a beta of 0.90. The company has a 50-day moving average price of $435.57 and a 200-day moving average price of $422.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23, and a current ratio of 1.27.

Microsoft (NASDAQ:MSFT – Get Free Report ) last posted its earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.05. The business had revenue of $64.73 billion during the quarter, compared to analysts’ expectations of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 EPS. As a group, equities analysts estimate that Microsoft Co. will post 13.04 earnings per share for the current year.

Microsoft dividend announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.75 per share. This represents a dividend of $3.00 on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, August 15. Microsoft’s dividend payout ratio (DPR) is 25.97%.

Analysts on Wall Street are forecasting an increase

Several analysts have commented on MSFT shares. Oppenheimer upped their target price on shares of Microsoft from $450.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. upped their target price on Microsoft from $440.00 to $470.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Citigroup cut their price target on Microsoft from $520.00 to $500.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Goldman Sachs Group boosted their price objective on Microsoft from $450.00 to $515.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 price target on shares of Microsoft in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $494.72, based on data from MarketBeat.

Read our latest report on MSFT

Indoor activity

In other news, CMO Takeshi Numoto sold 244 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $415.53, for a total transaction of $101,389.32. Following the transaction, the chief marketing officer now directly owns 47,011 shares in the company, valued at $19,534,480.83. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Company insiders hold 0.03% of the company’s stock.

Microsoft profile

(Free report)

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 consumer office services, such as Microsoft 365 consumer subscriptions, on-premise Office licensing, and other office services.

Featured stories

Get news and reviews for Microsoft Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Microsoft and related companies with MarketBeat.com’s FREE daily email newsletter.