RedJay Asset Management Inc. Invests $8.26 Million in Microsoft Corporation (NASDAQ:MSFT)

RedJay Asset Management Inc. bought a new stake in shares of Microsoft Corporation (NASDAQ:MSFT) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,000 shares of the software giant’s stock, valued at approximately $8,259,000. Microsoft makes up approximately 4.5% of RedJay Asset Management Inc.’s holdings, making the stock its 4th biggest holding.

A number of other institutional investors have also recently made changes to their positions in the business. Newton One Investments LLC grew its stake in shares of Microsoft by 66.7% during the first quarter. Newton One Investments LLC now owns 75 shares of the software giant’s stock valued at $28,000 after buying an additional 30 shares during the last quarter. Ball & Co Wealth Management Inc. bought a new position in Microsoft in the 4th quarter valued at $31,000. LSV Asset Management purchased a new stake in Microsoft in the fourth quarter worth $44,000. IFS Advisors LLC increased its stake in Microsoft by 50.0% in the first quarter. IFS Advisors LLC now owns 150 shares of the software giant’s stock worth $57,000 after purchasing an additional 50 shares during the period. Finally, Fairway Wealth LLC bought a new stake in shares of Microsoft during the fourth quarter worth $62,000. Institutional investors own 71.13% of the company’s stock.

Insider Buying and Selling

In other news, EVP Takeshi Numoto sold 4,850 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $527.32, for a total value of $2,557,502.00. Following the completion of the transaction, the executive vice president owned 39,111 shares of the company’s stock, valued at $20,624,012.52. The trade was a 11.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Judson Althoff sold 16,000 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $458.18, for a total value of $7,330,880.00. Following the completion of the sale, the executive vice president owned 98,010 shares in the company, valued at $44,906,221.80. The trade was a 14.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,350 shares of company stock valued at $21,493,447 over the last 90 days. Insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MSFT. Oppenheimer upped their price target on shares of Microsoft from $600.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Citigroup boosted their price objective on shares of Microsoft from $605.00 to $613.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. TD Securities raised their target price on shares of Microsoft from $475.00 to $490.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Wedbush lifted their price target on shares of Microsoft from $600.00 to $625.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, DA Davidson increased their price objective on Microsoft from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $609.86.

Microsoft Stock Down 1.6%

Microsoft stock opened at $520.58 on Thursday. The business’s 50-day simple moving average is $500.51 and its two-hundred day simple moving average is $439.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $3.87 trillion, a PE ratio of 38.17, a PEG ratio of 2.32 and a beta of 1.06. Microsoft Corporation has a fifty-two week low of $344.79 and a fifty-two week high of $555.45.

Microsoft (NASDAQ:MSFT) last released its earnings results on Wednesday, July 30th. The software giant reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.35 by $0.30. The firm had revenue of $76.44 billion during the quarter, compared to the consensus estimate of $73.79 billion. Microsoft had a return on equity of 32.44% and a net margin of 36.15%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 earnings per share. Equities analysts anticipate that Microsoft Corporation will post 13.08 EPS for the current year.

Microsoft Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 21st. Microsoft’s dividend payout ratio (DPR) is 24.34%.

Microsoft Company Profile

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 office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.