Tallon Kerry Patrick Invests $1.38 Million in Microsoft Co. (NASDAQ:MSFT)

Tallon Kerry Patrick purchased a new position in shares of Microsoft Co. (NASDAQ:MSFT) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 3,285 shares of the software giant’s stock, valued at approximately $1,375,000. Microsoft comprises 1.3% of Tallon Kerry Patrick’s holdings, making the stock its 24th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sequent Asset Management LLC raised its position in shares of Microsoft by 1.3% in the 3rd quarter. Sequent Asset Management LLC now owns 1,983 shares of the software giant’s stock worth $853,000 after acquiring an additional 25 shares in the last quarter. Cypress Point Wealth Management LLC grew its position in Microsoft by 0.8% during the third quarter. Cypress Point Wealth Management LLC now owns 3,208 shares of the software giant’s stock valued at $1,380,000 after buying an additional 25 shares during the period. Riverstone Advisors LLC grew its holdings in Microsoft by 0.6% during the third quarter. Riverstone Advisors LLC now owns 4,510 shares of the software giant’s stock valued at $1,941,000 after purchasing an additional 25 shares during the period. Boulder Wealth Advisors LLC boosted its position in shares of Microsoft by 1.0% in the third quarter. Boulder Wealth Advisors LLC now owns 2,569 shares of the software giant’s stock worth $1,106,000 after purchasing an additional 25 shares during the period. Finally, Weil Company Inc. grew its position in shares of Microsoft by 1.2% during the third quarter. Weil Company Inc. now owns 2,136 shares of the software giant’s stock worth $919,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Insider Activity

In related news, insider Bradford L. Smith sold 6,000 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $433.17, for a total transaction of $2,599,020.00. Following the transaction, the insider now owns 471,036 shares of the company’s stock, valued at $204,038,664.12. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.03% of the company’s stock.

Microsoft Stock Performance

NASDAQ:MSFT opened at $438.73 on Friday. Microsoft Co. has a 12 month low of $344.79 and a 12 month high of $468.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34. The firm has a market capitalization of $3.26 trillion, a PE ratio of 35.32, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business’s fifty day moving average price is $389.19 and its 200 day moving average price is $411.74.

Microsoft (NASDAQ:MSFT) last issued its earnings results on Wednesday, April 30th. The software giant reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.24. The business had revenue of $70.07 billion for the quarter, compared to analyst estimates of $68.54 billion. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $2.94 EPS. On average, sell-side analysts anticipate that Microsoft Co. will post 13.08 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 15th. Microsoft’s dividend payout ratio (DPR) is 25.66%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MSFT. Mizuho raised their price target on Microsoft from $475.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. TD Securities increased their target price on shares of Microsoft from $475.00 to $490.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Bank of America decreased their price target on shares of Microsoft from $510.00 to $480.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Westpark Capital reaffirmed a “hold” rating on shares of Microsoft in a research report on Thursday, May 1st. Finally, Morgan Stanley raised their price objective on Microsoft from $472.00 to $482.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $507.77.

About Microsoft

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.