Microsoft Corporation $MSFT Stock: The Manufacturers Life Insurance Company Cuts Stake

The Manufacturers Life Insurance Company lowered its stake in Microsoft Corporation (NASDAQ:MSFT – Free Report) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,725,305 shares of the software giant’s stock after selling 439,548 shares during the quarter. Microsoft makes up 2.0% of The Manufacturers Life Insurance Company’s investment portfolio, making the stock its 4th largest position. The Manufacturers Life Insurance Company owned about 0.14% of Microsoft worth $4,000,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MSFT. Bank of America Corp DE bought a new stake in Microsoft during the 2nd quarter worth approximately $27,338,370,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Microsoft by 0.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,375,360 shares of the software giant’s stock worth $24,013,297,000 after buying an additional 543,172 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Microsoft in the second quarter worth $18,306,443,000. Amundi raised its position in shares of Microsoft by 12.0% in the second quarter. Amundi now owns 46,694,778 shares of the software giant’s stock worth $17,418,076,000 after buying an additional 5,019,702 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Microsoft by 10.5% during the first quarter. Dimensional Fund Advisors LP now owns 29,323,744 shares of the software giant’s stock valued at $10,852,884,000 after buying an additional 2,784,809 shares during the period. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Insider Transactions at Microsoft

In related news, EVP Amy Hood sold 41,674 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $498.27, for a total value of $20,764,903.98. Following the completion of the sale, the executive vice president owned 533,624 shares in the company, valued at $265,888,830.48. The trade was a 7.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Satya Nadella sold 86,525 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $501.46, for a total value of $43,388,826.50. Following the completion of the sale, the chief executive officer directly owned 486,763 shares of the company’s stock, valued at approximately $244,092,173.98. This represents a 15.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 135,504 shares of company stock worth $68,138,024. 0.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. TD Cowen boosted their target price on Microsoft from $625.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Evercore raised Microsoft from an “underperform” rating to an “outperform” rating in a report on Monday, October 5th. Wells Fargo & Company lifted their price target on Microsoft from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. William Blair assumed coverage on Microsoft in a report on Monday, October 5th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Microsoft in a research report on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $609.54.

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Key Stories Impacting Microsoft

Here are the key news stories impacting Microsoft this week:

Microsoft Stock Up 6.7%

MSFT opened at $555.80 on Thursday. The stock has a market cap of $4.13 trillion, a PE ratio of 29.01, a P/E/G ratio of 1.54 and a beta of 1.05. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 0.07. Microsoft Corporation has a 52 week low of $349.20 and a 52 week high of $559.15. The business’s fifty day simple moving average is $515.34 and its 200 day simple moving average is $439.42.

Microsoft (NASDAQ:MSFT – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The software giant reported $4.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $0.17. Microsoft had a return on equity of 31.28% and a net margin of 41.17%. The firm had revenue of $92.28 billion during the quarter, compared to analyst estimates of $90.62 billion. During the same quarter in the previous year, the company posted $4.13 earnings per share. The company’s revenue was up 18.8% compared to the same quarter last year. As a group, research analysts expect that Microsoft Corporation will post 19.86 earnings per share for the current fiscal year.

Microsoft Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Microsoft’s previous quarterly dividend of $0.91. Microsoft’s payout ratio is 19.00%.

About Microsoft

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Microsoft Corporation (NASDAQ:MSFT) is a global technology company that develops software, cloud services, devices and digital platforms. Its products and services are used by consumers, businesses, governments and educational institutions worldwide.

The company’s principal offerings include the Windows operating system; Microsoft 365 productivity applications such as Word, Excel, Teams and Outlook; Azure cloud computing and infrastructure services; Dynamics business applications; and enterprise security solutions.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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