Rep. Josh Gottheimer Sells Off Shares of Microsoft Co. (NASDAQ:MSFT)

by · The Markets Daily

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Microsoft Co. (NASDAQ:MSFT). In a filing disclosed on November 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in Microsoft stock on October 3rd. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

  • Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
  • Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
  • Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
  • Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
  • Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
  • Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
  • Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
  • Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
  • Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
  • Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

Microsoft Trading Down 0.4 %

MSFT traded down $1.69 on Friday, reaching $423.74. 5,106,830 shares of the company’s stock were exchanged, compared to its average volume of 20,367,391. Microsoft Co. has a twelve month low of $360.36 and a twelve month high of $468.35. The company’s 50 day moving average is $420.74 and its 200-day moving average is $424.80. The company has a market cap of $3.15 trillion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.16 and a beta of 0.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.29 and a current ratio of 1.30.

Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, beating the consensus estimate of $3.10 by $0.20. The company had revenue of $65.59 billion for the quarter, compared to analyst estimates of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $2.99 earnings per share. Equities analysts predict that Microsoft Co. will post 12.95 earnings per share for the current year.

Microsoft Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.83 per share. The ex-dividend date is Thursday, November 21st. This is a boost from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 annualized dividend and a dividend yield of 0.78%. Microsoft’s payout ratio is currently 27.39%.

Microsoft declared that its board has authorized a stock repurchase plan on Monday, September 16th that permits the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization permits the software giant to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Microsoft

Several large investors have recently made changes to their positions in MSFT. New Harbor Financial Group LLC increased its holdings in shares of Microsoft by 55.9% during the 2nd quarter. New Harbor Financial Group LLC now owns 1,255 shares of the software giant’s stock worth $561,000 after acquiring an additional 450 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Microsoft by 25.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 250,657 shares of the software giant’s stock valued at $112,031,000 after acquiring an additional 51,273 shares during the period. AMG National Trust Bank lifted its position in Microsoft by 19.0% during the second quarter. AMG National Trust Bank now owns 81,502 shares of the software giant’s stock worth $36,427,000 after acquiring an additional 12,994 shares during the last quarter. True Link Financial Advisors LLC grew its position in shares of Microsoft by 296.7% in the first quarter. True Link Financial Advisors LLC now owns 3,027 shares of the software giant’s stock valued at $1,274,000 after purchasing an additional 2,264 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Microsoft by 8.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,104,454 shares of the software giant’s stock worth $904,441,000 after purchasing an additional 161,227 shares during the period. Institutional investors own 71.13% of the company’s stock.

Insider Buying and Selling

In other Microsoft news, CMO Takeshi Numoto sold 2,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $411.04, for a total transaction of $1,027,600.00. Following the transaction, the chief marketing officer now owns 50,000 shares in the company, valued at $20,552,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CMO Takeshi Numoto sold 2,500 shares of Microsoft stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total value of $1,027,600.00. Following the completion of the sale, the chief marketing officer now directly owns 50,000 shares in the company, valued at approximately $20,552,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Satya Nadella sold 78,353 shares of Microsoft stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $408.63, for a total value of $32,017,386.39. Following the completion of the transaction, the chief executive officer now directly owns 864,327 shares of the company’s stock, valued at $353,189,942.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,629 shares of company stock valued at $77,916,485. Insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MSFT shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 price target on shares of Microsoft in a research note on Tuesday. UBS Group dropped their price objective on Microsoft from $510.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Oppenheimer downgraded shares of Microsoft from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 8th. Bank of America increased their price objective on shares of Microsoft from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Citigroup reduced their price target on shares of Microsoft from $500.00 to $497.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $503.03.

Get Our Latest Report on MSFT

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About Microsoft

(Get Free Report)

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.

See Also