FSA Wealth Management LLC cut its holdings in Microsoft Co. (NASDAQ:MSFT – Free Report) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,081 shares of the software giant’s stock after selling 284 shares during the quarter. Microsoft accounts for 0.8% of FSA Wealth Management LLC’s investment portfolio, making the stock its 14th largest holding. FSA Wealth Management LLC’s holdings in Microsoft were worth $1,390,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Monumental Financial Group Inc. acquired a new position in shares of Microsoft during the first quarter worth approximately $28,000. Syverson Strege & Co grew its holdings in Microsoft by 157.0% during the first quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock worth $58,000 after buying an additional 124 shares in the last quarter. MayTech Global Investments LLC bought a new stake in Microsoft during the fourth quarter worth $83,000. Beutel Goodman & Co Ltd. grew its holdings in Microsoft by 57.5% during the third quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock worth $95,000 after buying an additional 150 shares in the last quarter. Finally, Alapocas Investment Partners Inc. bought a new stake in Microsoft during the first quarter worth $97,000. 69.20% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Microsoft
In related news, EVP Kathleen T. Hogan sold 26,815 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $327.37, for a total value of $8,778,426.55. Following the completion of the sale, the executive vice president now directly owns 198,373 shares of the company’s stock, valued at $64,941,369.01. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Kathleen T. Hogan sold 26,815 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $327.37, for a total value of $8,778,426.55. Following the completion of the sale, the executive vice president now directly owns 198,373 shares of the company’s stock, valued at $64,941,369.01. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Satya Nadella sold 38,234 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $328.43, for a total transaction of $12,557,192.62. Following the completion of the sale, the chief executive officer now directly owns 800,668 shares of the company’s stock, valued at $262,963,391.24. The disclosure for this sale can be found here. 0.03% of the stock is owned by corporate insiders.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The software giant reported $2.99 EPS for the quarter, topping the consensus estimate of $2.65 by $0.34. The business had revenue of $56.52 billion during the quarter, compared to the consensus estimate of $54.52 billion. Microsoft had a net margin of 35.31% and a return on equity of 38.79%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.35 earnings per share. As a group, equities analysts anticipate that Microsoft Co. will post 11.13 earnings per share for the current fiscal year.
Microsoft Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be given a $0.75 dividend. The ex-dividend date is Wednesday, November 15th. This is a boost from Microsoft’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a yield of 0.82%. Microsoft’s payout ratio is 26.33%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on MSFT shares. TD Cowen upped their price target on Microsoft from $330.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $390.00 price target on shares of Microsoft in a report on Wednesday, October 25th. Citigroup upped their price objective on Microsoft from $430.00 to $432.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Barclays reduced their price objective on Microsoft from $425.00 to $421.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Finally, Wedbush restated an “outperform” rating and issued a $400.00 price objective on shares of Microsoft in a research note on Wednesday, October 25th. Four equities research analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $384.34.
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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