Finer Wealth Management Inc. grew its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,588 shares of the software giant’s stock after acquiring an additional 547 shares during the quarter. Microsoft comprises about 6.7% of Finer Wealth Management Inc.’s holdings, making the stock its 2nd largest position. Finer Wealth Management Inc.’s holdings in Microsoft were worth $8,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Microsoft by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 621,598,157 shares of the software giant’s stock valued at $191,644,927,000 after acquiring an additional 5,648,095 shares during the last quarter. State Street Corp increased its position in Microsoft by 2.8% during the 4th quarter. State Street Corp now owns 302,541,869 shares of the software giant’s stock worth $101,750,881,000 after purchasing an additional 8,108,943 shares in the last quarter. Geode Capital Management LLC increased its position in Microsoft by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 129,107,118 shares of the software giant’s stock worth $43,313,705,000 after purchasing an additional 3,027,306 shares in the last quarter. Norges Bank acquired a new stake in Microsoft during the 4th quarter worth approximately $24,401,940,000. Finally, Nuveen Asset Management LLC increased its position in Microsoft by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 57,181,533 shares of the software giant’s stock worth $19,231,292,000 after purchasing an additional 584,273 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on MSFT. Credit Suisse Group set a $400.00 target price on shares of Microsoft in a research report on Tuesday, July 26th. JPMorgan Chase & Co. set a $320.00 target price on shares of Microsoft in a research report on Thursday, June 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Microsoft from $350.00 to $330.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Barclays decreased their price target on Microsoft from $363.00 to $335.00 and set an “overweight” rating for the company in a report on Friday, June 10th. Finally, Redburn Partners started coverage on Microsoft in a report on Wednesday, June 29th. They issued a “buy” rating and a $370.00 price target for the company. Two research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $334.31.
Microsoft Price Performance
Microsoft (NASDAQ:MSFT – Get Rating) last issued its earnings results on Tuesday, July 26th. The software giant reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.06). Microsoft had a return on equity of 43.31% and a net margin of 36.69%. During the same period last year, the business earned $2.17 earnings per share. On average, research analysts expect that Microsoft Co. will post 10.14 EPS for the current year.
Insiders Place Their Bets
In other news, CMO Christopher C. Capossela sold 5,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $266.25, for a total transaction of $1,331,250.00. Following the transaction, the chief marketing officer now directly owns 109,837 shares of the company’s stock, valued at $29,244,101.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.
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