Cornerstone Retirement Group Inc. grew its position in Microsoft Co. (NASDAQ:MSFT – Free Report) by 24.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,163 shares of the software giant’s stock after purchasing an additional 228 shares during the quarter. Microsoft comprises approximately 0.1% of Cornerstone Retirement Group Inc.’s investment portfolio, making the stock its 6th biggest holding. Cornerstone Retirement Group Inc.’s holdings in Microsoft were worth $335,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Spinnaker Investment Group LLC grew its holdings in Microsoft by 2.6% in the first quarter. Spinnaker Investment Group LLC now owns 11,951 shares of the software giant’s stock worth $3,445,000 after purchasing an additional 305 shares during the last quarter. Kalos Management Inc. purchased a new position in Microsoft in the first quarter worth $159,000. Quilter Plc grew its holdings in Microsoft by 1.4% in the fourth quarter. Quilter Plc now owns 844,299 shares of the software giant’s stock worth $202,480,000 after purchasing an additional 11,563 shares during the last quarter. Premier Fund Managers Ltd grew its holdings in shares of Microsoft by 117.2% during the first quarter. Premier Fund Managers Ltd now owns 85,364 shares of the software giant’s stock valued at $24,250,000 after buying an additional 46,056 shares during the last quarter. Finally, SeaTown Holdings Pte. Ltd. grew its holdings in shares of Microsoft by 3.1% during the fourth quarter. SeaTown Holdings Pte. Ltd. now owns 200,299 shares of the software giant’s stock valued at $48,036,000 after buying an additional 6,000 shares during the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.
Microsoft Stock Up 0.3 %
Shares of NASDAQ MSFT opened at $328.66 on Friday. The company has a 50 day simple moving average of $332.77 and a 200-day simple moving average of $307.81. The company has a market capitalization of $2.44 trillion, a P/E ratio of 33.92, a P/E/G ratio of 2.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 1.75. Microsoft Co. has a 1 year low of $213.43 and a 1 year high of $366.78.
Microsoft Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.68 per share. The ex-dividend date 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 currently 28.07%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on MSFT. The Goldman Sachs Group boosted their price objective on shares of Microsoft from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, July 21st. Wells Fargo & Company boosted their price objective on shares of Microsoft from $380.00 to $400.00 and gave the company an “overweight” rating in a report on Wednesday, July 19th. JPMorgan Chase & Co. boosted their price objective on shares of Microsoft from $350.00 to $385.00 in a report on Wednesday, July 19th. Piper Sandler reissued an “overweight” rating and set a $400.00 price objective on shares of Microsoft in a report on Wednesday, July 26th. Finally, DA Davidson boosted their target price on shares of Microsoft from $350.00 to $415.00 in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and a consensus price target of $373.68.
Insider Transactions at Microsoft
In related news, insider Bradford L. Smith sold 50,000 shares of the 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 completion of the transaction, the insider now owns 588,084 shares of the company’s stock, valued at approximately $198,301,924.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.
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.
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