Bullseye Investment Management LLC reduced its position in shares of Microsoft Co. (NASDAQ:MSFT)

VaselineAugust 24, 2024

0 4 minutes read

Bullseye Investment Management LLC reduced its position in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 3.4% during the first quarter, Holdings Channel reports. The institutional investor owned 10,432 shares of the software giant’s stock after selling 372 shares during the quarter. Microsoft makes up 2.6% of Bullseye Investment Management LLC’s investment portfolio, making the stock its 14th biggest holding. Bullseye Investment Management LLC’s holdings in Microsoft were worth $4,389,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Friedenthal Financial bought a new stake in shares of Microsoft during the fourth quarter valued at about $45,000. Neo Ivy Capital Management acquired a new stake in Microsoft in the fourth quarter valued at $58,000. Richardson Capital Management LLC lifted its position in shares of Microsoft by 1,290.0% in the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after buying an additional 129 shares in the last quarter. PayPay Securities Corp raised its stake in shares of Microsoft by 23.7% in the fourth quarter. PayPay Securities Corp now owns 188 shares of the software giant’s stock valued at $71,000 after buying an additional 36 shares during the period. Finally, Bellevue Group AG boosted its holdings in shares of Microsoft by 47.5% in the first quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 71.13% of the company’s shares.

Insiders place their bets

In other news, CMO Takeshi Numoto sold 244 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $415.53, for a total value of $101,389.32. Following the sale, the chief marketing officer now owns 47,011 shares in the company, valued at $19,534,480.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. 0.03% of shares are currently owned by insiders.

Microsoft trading down 2.0%

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NASDAQ:MSFT opened at $415.55 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.23, and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $435.57 and a 200 day simple moving average of $422.62. Microsoft Co. has a 12-month low of $309.45 and a 12-month high of $468.35. The company has a market cap of $3.09 trillion, a P/E ratio of 35.98, a PEG ratio of 2.11 and a beta of 0.90.

Microsoft (NASDAQ:MSFT – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 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 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 was up 15.2% compared to the same quarter last year. In the same quarter last year, the firm posted EPS of $2.69. On average, equities research analysts anticipate that Microsoft Co. will post 13.04 earnings per share for the current year.

Microsoft announces dividend

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

Analysts set new price targets

MSFT has been the subject of several research reports. Piper Sandler reissued an “overweight” rating and issued a $485.00 price objective on shares of Microsoft in a research report on Wednesday, July 31st. 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. New Street Research started coverage on Microsoft in a research report on Monday, June 10th. They set a “buy” rating and a $570.00 price target for the company. Morgan Stanley decreased their price target on Microsoft from $520.00 to $506.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price objective on shares of Microsoft in a report on Monday, June 17th. Two research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $494.72.

See our latest report on MSFT

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.