Transcend Capital Advisors LLC has increased its stake in Microsoft Corporation (NASDAQ: MSFT) by 3.6% during the third quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The institutional investor now holds 83,774 shares of the software giant, which are valued at approximately $43.39 million as of the end of the quarter. Microsoft represents about 3.0% of Transcend Capital’s overall portfolio, making it the firm’s third-largest investment.
Several other institutional investors have also adjusted their positions in Microsoft recently. For instance, Longfellow Investment Management Co. LLC raised its stake by 51.3% in the second quarter, acquiring an additional 20 shares for a total of 59 shares valued at around $29,000. Bayforest Capital Ltd initiated a new stake in the company during the third quarter, valued at approximately $38,000. Similarly, Sellwood Investment Partners LLC and University of Illinois Foundation made new investments in Microsoft, valued at approximately $49,000 and $50,000, respectively. Overall, institutional investors now own 71.13% of Microsoft’s stock.
Analyst Ratings and Market Performance
Market analysts have recently weighed in on Microsoft shares as well. Oppenheimer reaffirmed an “outperform” rating, while Piper Sandler reiterated an “overweight” rating and adjusted its target price from $650.00 to $600.00. Deutsche Bank downgraded its target from $630.00 to $575.00 but maintained a “buy” rating. Citigroup also lowered its price target from $660.00 to $635.00, with a “buy” recommendation.
The consensus among analysts shows that two have given a Strong Buy rating, thirty-nine have rated it as Buy, and four analysts have issued a Hold rating. According to data from MarketBeat, Microsoft holds a consensus rating of “Moderate Buy” with an average price target of $591.95.
In terms of recent performance, Microsoft opened at $392.74 on Friday. The company’s financial ratios indicate a quick ratio of 1.38, a current ratio of 1.39, and a debt-to-equity ratio of 0.09. Microsoft’s stock has ranged between a 52-week low of $344.79 and a high of $555.45.
Insider Transactions and Dividend Announcements
In insider trading news, CEO Judson Althoff sold 12,750 shares on December 2, 2023, at an average price of $491.52 per share, totaling approximately $6.27 million. Following this transaction, Althoff retains 129,349 shares, valued at about $63.58 million, reflecting a slight decrease in his ownership.
Additionally, Director John W. Stanton purchased 5,000 shares on February 18, 2024, at an average price of $397.35, amounting to about $1.99 million. This acquisition increased his holdings to 83,905 shares, valued at approximately $33.34 million.
Microsoft also announced a quarterly dividend of $0.91 per share, which will be distributed on March 12, 2024, to shareholders recorded as of February 19, 2024. The annualized dividend totals $3.64, yielding 0.9%, with a payout ratio of 22.76%.
Microsoft Corporation, headquartered in Redmond, Washington, is a leading global technology company established in 1975 by Bill Gates and Paul Allen. It develops a wide range of software products, services, and devices for various sectors, including personal computing, productivity software, and cloud infrastructure.
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