Kerntke Otto McGlone Wealth Management Group Lowers Stock Position in Microsoft Co. (NASDAQ:MSFT)

Kerntke Otto McGlone Wealth Management Group cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,666 shares of the software giant’s stock after selling 111 shares during the period. Microsoft accounts for approximately 2.9% of Kerntke Otto McGlone Wealth Management Group’s holdings, making the stock its 11th biggest holding. Kerntke Otto McGlone Wealth Management Group’s holdings in Microsoft were worth $2,787,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Monumental Financial Group Inc. purchased a new stake in Microsoft during the 1st quarter worth $28,000. PayPay Securities Corp purchased a new stake in Microsoft during the 4th quarter worth $54,000. Gleason Group Inc. boosted its position in Microsoft by 111.7% during the 1st quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock worth $57,000 after purchasing an additional 105 shares during the period. Syverson Strege & Co boosted its position in Microsoft by 157.0% during the 1st quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock worth $58,000 after purchasing an additional 124 shares during the period. Finally, MayTech Global Investments LLC purchased a new stake in Microsoft during the 4th quarter worth $83,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

Microsoft Price Performance

Shares of NASDAQ:MSFT opened at $328.41 on Wednesday. The firm’s 50 day moving average is $333.23 and its two-hundred day moving average is $307.12. Microsoft Co. has a 52 week low of $213.43 and a 52 week high of $366.78. The firm has a market capitalization of $2.44 trillion, a P/E ratio of 33.89, a PEG ratio of 2.38 and a beta of 0.90. The company has a current ratio of 1.77, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Tuesday, July 25th. The software giant reported $2.69 EPS for the quarter, beating the consensus estimate of $2.55 by $0.14. Microsoft had a net margin of 34.15% and a return on equity of 38.70%. The company had revenue of $56.19 billion for the quarter, compared to analyst estimates of $55.49 billion. During the same quarter last year, the business earned $2.23 earnings per share. Microsoft’s revenue was up 8.3% compared to the same quarter last year. Analysts anticipate that Microsoft Co. will post 10.9 earnings per share for the current year.

Microsoft Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 17th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.83%. Microsoft’s dividend payout ratio is presently 28.07%.

Analysts Set New Price Targets

A number of analysts recently weighed in on MSFT shares. Piper Sandler reaffirmed an “overweight” rating and set a $400.00 price target on shares of Microsoft in a research report on Wednesday, July 26th. Redburn Partners decreased their price objective on shares of Microsoft from $450.00 to $440.00 and set a “buy” rating for the company in a research report on Friday, August 11th. Guggenheim reissued a “sell” rating and issued a $232.00 price objective on shares of Microsoft in a research report on Thursday, July 20th. Wells Fargo & Company upped their price objective on shares of Microsoft from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday, July 19th. Finally, Bank of America upped their price objective on shares of Microsoft from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, Microsoft presently has a consensus rating of “Moderate Buy” and a consensus target price of $373.68.

Insider Activity at Microsoft

In related news, insider Bradford L. Smith sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the transaction, the insider now owns 588,084 shares in the company, valued at $198,301,924.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Teri List sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $334.77, for a total transaction of $418,462.50. Following the transaction, the director now owns 874 shares in the company, valued at $292,588.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradford L. Smith sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the transaction, the insider now owns 588,084 shares in the company, valued at approximately $198,301,924.80. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

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.