Rep. Morgan McGarvey Sells Shares of Microsoft Co. (NASDAQ:MSFT)

Representative Morgan McGarvey (D-Kentucky) recently sold shares of Microsoft Co. (NASDAQ:MSFT). In a filing disclosed on December 10th, the Representative disclosed that they had sold between $1,001 and $15,000 in Microsoft stock on November 13th. The trade occurred in the Representative’s “CHRIS IRA” account.

Representative Morgan McGarvey also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Shell (NYSE:SHEL) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Interactive Brokers Group (NASDAQ:IBKR) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Charles Schwab (NYSE:SCHW) on 11/13/2024.
• Sold $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Trump Media & Technology Group (NASDAQ:DJT) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Trump Media & Technology Group (NASDAQ:DJT) on 11/6/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 10/25/2024.

Microsoft Stock Up 1.3 %

Microsoft stock opened at $448.99 on Thursday. Microsoft Co. has a 12 month low of $364.13 and a 12 month high of $468.35. The stock has a fifty day simple moving average of $422.87 and a two-hundred day simple moving average of $427.35. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.34 trillion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.37 and a beta of 0.90.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.20. The company had revenue of $65.59 billion for the quarter, compared to analysts’ expectations of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. Microsoft’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $2.99 EPS. Equities analysts predict that Microsoft Co. will post 12.93 EPS for the current fiscal year.

Microsoft Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a dividend of $0.83 per share. The ex-dividend date is Thursday, February 20th. This represents a $3.32 dividend on an annualized basis and a yield of 0.74%. Microsoft’s dividend payout ratio (DPR) is currently 27.39%.

Microsoft declared that its Board of Directors has initiated a stock repurchase program on Monday, September 16th that permits the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization permits the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Microsoft from $500.00 to $497.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 target price on shares of Microsoft in a research report on Tuesday, November 5th. Wedbush reaffirmed an “outperform” rating and issued a $550.00 price target on shares of Microsoft in a report on Tuesday, November 19th. KeyCorp boosted their target price on shares of Microsoft from $490.00 to $505.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. Two analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $504.36.

Insider Activity at Microsoft

In other news, CMO Takeshi Numoto sold 2,500 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $447.41, for a total transaction of $1,118,525.00. Following the completion of the transaction, the chief marketing officer now directly owns 49,352 shares in the company, valued at $22,080,578.32. The trade was a 4.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher David Young sold 7,200 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total value of $3,050,352.00. Following the completion of the sale, the executive vice president now owns 103,366 shares in the company, valued at $43,792,039.56. This trade represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,200 shares of company stock worth $17,383,892. 0.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MSFT. WFA Asset Management Corp grew its stake in Microsoft by 27.0% in the first quarter. WFA Asset Management Corp now owns 1,016 shares of the software giant’s stock valued at $427,000 after acquiring an additional 216 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Microsoft by 62.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 113,168 shares of the software giant’s stock valued at $47,612,000 after purchasing an additional 43,327 shares during the last quarter. Quent Capital LLC increased its holdings in Microsoft by 4.3% in the 1st quarter. Quent Capital LLC now owns 35,888 shares of the software giant’s stock worth $15,099,000 after acquiring an additional 1,467 shares during the last quarter. Motco lifted its holdings in Microsoft by 1.3% during the first quarter. Motco now owns 60,940 shares of the software giant’s stock valued at $25,639,000 after purchasing an additional 756 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its stake in shares of Microsoft by 21.0% in the first quarter. J.Safra Asset Management Corp now owns 4,431 shares of the software giant’s stock worth $1,864,000 after purchasing an additional 769 shares in the last quarter. Institutional investors own 71.13% of the company’s stock.

About Representative McGarvey

Morgan McGarvey (Democratic Party) is a member of the U.S. House, representing Kentucky’s 3rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. McGarvey (Democratic Party) is running for re-election to the U.S. House to represent Kentucky’s 3rd Congressional District. He declared candidacy for the Democratic primary scheduled on May 21, 2024. McGarvey served as state Senate minority leader from 2019 to 2023. Morgan McGarvey was born in Louisville, Kentucky. McGarvey earned a bachelor’s degree in journalism from the University of Missouri and a law degree from the University of Kentucky. His career experience includes working as an attorney with Morgan & Pottinger PSC. McGarvey has been affiliated with the Young Professionals Association of Louisville and the New Leaders Council.

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.