Pinnacle Wealth Management LLC increased its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,431 shares of the software giant’s stock after purchasing an additional 114 shares during the period. Microsoft accounts for about 2.1% of Pinnacle Wealth Management LLC’s holdings, making the stock its 18th biggest holding. Pinnacle Wealth Management LLC’s holdings in Microsoft were worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. Monumental Financial Group Inc. purchased a new stake in shares of Microsoft during the 1st quarter valued at about $28,000. Newfound Research LLC grew its position in Microsoft by 25.4% in the second quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock valued at $76,000 after acquiring an additional 60 shares in the last quarter. Darrow Company Inc. purchased a new stake in shares of Microsoft during the second quarter valued at approximately $82,000. Morgan Dempsey Capital Management LLC acquired a new position in shares of Microsoft during the third quarter worth $82,000. Finally, Avondale Wealth Management boosted its stake in shares of Microsoft by 58.6% in the third quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock valued at $95,000 after purchasing an additional 150 shares during the period. 69.15% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of Microsoft from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. Barclays dropped their target price on Microsoft from $296.00 to $280.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 10th. Oppenheimer reduced their price target on Microsoft from $275.00 to $265.00 in a report on Wednesday, October 26th. Cowen dropped their price objective on Microsoft from $285.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Piper Sandler reduced their target price on Microsoft from $265.00 to $247.00 and set an “overweight” rating for the company in a research note on Monday, January 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $288.33.
Microsoft Trading Down 1.6 %
Microsoft (NASDAQ:MSFT – Get Rating) last announced its earnings results on Tuesday, October 25th. The software giant reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.06. The firm had revenue of $50.12 billion for the quarter, compared to the consensus estimate of $49.70 billion. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.27 EPS. Sell-side analysts expect that Microsoft Co. will post 9.52 earnings per share for the current year.
Microsoft Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Wednesday, February 15th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.17%. Microsoft’s dividend payout ratio (DPR) is 29.31%.
Insider Transactions at Microsoft
In other news, EVP Judson Althoff sold 24,144 shares of the business’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $254.27, for a total value of $6,139,094.88. Following the sale, the executive vice president now owns 150,047 shares of the company’s stock, valued at approximately $38,152,450.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.03% of the company’s stock.
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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