RMR Wealth Builders Purchases 2,894 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Feb 28th, 2023

RMR Wealth Builders grew its position in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,150 shares of the software giant’s stock after buying an additional 2,894 shares during the quarter. Microsoft accounts for approximately 2.0% of RMR Wealth Builders’ investment portfolio, making the stock its 13th biggest holding. RMR Wealth Builders’ holdings in Microsoft were worth $8,186,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Phoenix Wealth Advisors raised its holdings in shares of Microsoft by 2.0% in the 2nd quarter. Phoenix Wealth Advisors now owns 17,286 shares of the software giant’s stock worth $4,440,000 after purchasing an additional 343 shares during the period. ICICI Prudential Asset Management Co Ltd raised its holdings in shares of Microsoft by 199.7% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 107,705 shares of the software giant’s stock worth $25,356,000 after purchasing an additional 71,769 shares during the period. Verity & Verity LLC raised its holdings in shares of Microsoft by 6.4% in the 2nd quarter. Verity & Verity LLC now owns 67,872 shares of the software giant’s stock worth $17,432,000 after purchasing an additional 4,081 shares during the period. BlackDiamond Wealth Management Inc. raised its holdings in shares of Microsoft by 9.2% in the 3rd quarter. BlackDiamond Wealth Management Inc. now owns 7,751 shares of the software giant’s stock worth $1,943,000 after purchasing an additional 650 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in shares of Microsoft by 1.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,789,479 shares of the software giant’s stock worth $649,670,000 after purchasing an additional 37,545 shares during the period. Institutional investors own 69.15% of the company’s stock.

Insider Activity

In other news, CMO Christopher C. Capossela sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $269.38, for a total transaction of $269,380.00. Following the completion of the transaction, the chief marketing officer now directly owns 117,362 shares of the company’s stock, valued at $31,614,975.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Judson Althoff sold 24,144 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $254.27, for a total transaction of $6,139,094.88. Following the completion of the transaction, the executive vice president now directly owns 150,047 shares of the company’s stock, valued at $38,152,450.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Christopher C. Capossela sold 1,000 shares of the stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $269.38, for a total transaction of $269,380.00. Following the completion of the transaction, the chief marketing officer now directly owns 117,362 shares of the company’s stock, valued at $31,614,975.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,144 shares of company stock valued at $6,680,795. Insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MSFT. JPMorgan Chase & Co. set a $305.00 price target on shares of Microsoft and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Mizuho boosted their target price on shares of Microsoft from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Oppenheimer boosted their target price on shares of Microsoft from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. UBS Group set a $250.00 target price on shares of Microsoft in a report on Wednesday, February 8th. Finally, Cowen lowered their target price on shares of Microsoft from $285.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, January 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $285.58.

Microsoft Stock Performance

Microsoft stock opened at $250.16 on Tuesday. The company has a quick ratio of 1.89, a current ratio of 1.93 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.86 trillion, a PE ratio of 27.80, a P/E/G ratio of 2.29 and a beta of 0.92. The firm has a fifty day simple moving average of $246.44 and a two-hundred day simple moving average of $247.49. Microsoft Co. has a twelve month low of $213.43 and a twelve month high of $315.95.

Microsoft (NASDAQ:MSFT – Get Rating) last posted its quarterly earnings results on Tuesday, January 24th. The software giant reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.05. The business had revenue of $52.75 billion during the quarter, compared to the consensus estimate of $53.17 billion. Microsoft had a net margin of 33.05% and a return on equity of 39.87%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.48 earnings per share. Research analysts expect that Microsoft Co. will post 9.34 EPS for the current year.

Microsoft Company Profile

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Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment consists of Office Commercial (Office 365 subscriptions, the Office 365 portion of Microsoft 365 Commercial subscriptions, and Office licensed on-premises), Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, Office Consumer, including Microsoft 365 Consumer subscriptions, Office licensed on-premises, and other Office services, LinkedIn, including Talent Solutions, Marketing Solutions, Premium Subscriptions, Sales Solutions, and Learning Solutions, Dynamics business solutions, including Dynamics 365, comprising a set of intelligent, cloud-based applications across ERP, CRM, Customer Insights, Power Apps, and Power Automate, and on-premises ERP and CRM applications.