Spinnaker Investment Group LLC increases stake in Microsoft Co. (NASDAQ:MSFT)

VaselineSeptember 27, 2024

0 5 minutes read

Spinnaker Investment Group LLC boosted its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,579 shares of the software giant’s stock after acquiring an additional 58 shares during the quarter. Microsoft accounts for 1.5% of Spinnaker Investment Group LLC’s portfolio, making the stock its 13th largest holding. Spinnaker Investment Group LLC’s holdings in Microsoft were worth $5,622,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Secure Asset Management LLC raised its stake in shares of Microsoft by 33.6% in the second quarter. Secure Asset Management LLC now owns 22,506 shares of the software giant’s stock worth $10,059,000 after buying an additional 5,664 shares during the period. Sather Financial Group Inc raised its stake in shares of Microsoft by 3.5% in the second quarter. Sather Financial Group Inc now owns 255,923 shares of the software giant’s stock worth $114,385,000 after purchasing an additional 8,642 shares during the period. Diversified LLC boosted its holdings in Microsoft by 26.7% in the 2nd quarter. Diversified LLC now owns 15,837 shares of the software giant’s stock valued at $7,078,000 after buying an additional 3,337 shares in the last quarter. Slagle Financial LLC boosted its position in Microsoft by 6.7% in the second quarter. Slagle Financial LLC now owns 24,467 shares of the software giant’s stock valued at $10,936,000 after buying an additional 1,534 shares during the period. Finally, Avalon Capital Management raised its position in shares of Microsoft by 13.3% during the second quarter. Avalon Capital Management now owns 38,016 shares of the software giant’s stock worth $16,991,000 after acquiring an additional 4,469 shares during the period. Institutional investors own 71.13% of the company’s shares.

Microsoft trading down 0.2%

Shares of NASDAQ:MSFT opened at $431.31 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27, and a debt-to-equity ratio of 0.16. Microsoft Co. it has a 52-week low of $309.45 and a 52-week high of $468.35. The stock has a market cap of $3.21 trillion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.30 and a beta of 0.90. The company has a 50-day moving average price of $419.87 and a 200-day moving average price of $424.72.

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

Microsoft declared that its Board of Directors has authorized a stock repurchase plan on Monday, September 16th that authorizes the company to repurchase $60.00 billion in outstanding shares. This buyback authorization authorizes the software giant to buy back up to 1.9% of its shares through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Microsoft increases dividends

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.83 dividend. This is an increase from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, November 21. This represents a dividend of $3.32 on an annualized basis and a dividend yield of 0.77%. Microsoft’s dividend payout ratio is currently 25.97%.

Insider work at Microsoft

In related news, CEO Satya Nadella sold 14,398 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $417.41, for a total transaction of $6,009,869.18. Following the sale, the chief executive officer now directly owns 786,933 shares of the company’s stock, valued at $328,473,703.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this link. In related news, CFO Amy Hood sold 38,000 shares of Microsoft stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $410.55, for a total value of $15,600,900.00. Following the sale, the chief financial officer now owns 496,369 shares of the company’s stock, valued at approximately $203,784,292.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CEO Satya Nadella sold 14,398 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $417.41, for a total transaction of $6,009,869.18. Following the transaction, the chief executive officer now owns 786,933 shares of the company’s stock, valued at $328,473,703.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 190,629 shares of company stock worth $77,916,485. 0.03% of shares are owned by corporate insiders.

Changes in Analyst Ratings

MSFT has been the subject of a number of analyst research reports. Mizuho raised their target price on Microsoft from $450.00 to $480.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Morgan Stanley restated an “overweight” rating and issued a $506.00 price objective on shares of Microsoft in a report on Tuesday, September 17th. Tigress Financial boosted their target price on shares of Microsoft from $475.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Citigroup cut their price target on shares of Microsoft from $520.00 to $500.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price objective on shares of Microsoft from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. . Two analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. The company presently has a consensus rating of “Moderate Buy” and an average price target of $493.94, based on data from MarketBeat.

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About Microsoft

(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.