Microsoft Co. (NASDAQ:MSFT) Shares Sold by Money Concepts Capital Corp

Money Concepts Capital Corp cut its holdings in Microsoft Co. (NASDAQ:MSFT) by 30.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 71,209 shares of the software giant’s stock after selling 31,641 shares during the period. Microsoft comprises approximately 2.5% of Money Concepts Capital Corp’s holdings, making the stock its 3rd biggest position. Money Concepts Capital Corp’s holdings in Microsoft were worth $24,255,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Monumental Financial Group Inc. acquired a new position in shares of Microsoft in the 1st quarter valued at about $28,000. Syverson Strege & Co boosted its holdings in shares of Microsoft by 157.0% in the 1st quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock valued at $58,000 after buying an additional 124 shares during the period. Carolina Wealth Advisors LLC boosted its holdings in shares of Microsoft by 39.0% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 303 shares of the software giant’s stock valued at $103,000 after buying an additional 85 shares during the period. Alapocas Investment Partners Inc. acquired a new position in shares of Microsoft in the 1st quarter valued at about $97,000. Finally, MayTech Global Investments LLC acquired a new position in shares of Microsoft in the 4th quarter valued at about $83,000. 69.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MSFT. Wedbush boosted their target price on shares of Microsoft from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays boosted their target price on shares of Microsoft from $410.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup boosted their target price on shares of Microsoft from $430.00 to $432.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Rosenblatt Securities boosted their target price on shares of Microsoft from $370.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $390.00 price target on shares of Microsoft in a research report on Wednesday, October 25th. Four investment analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $385.11.

Insider Buying and Selling at Microsoft

In other Microsoft news, EVP Kathleen T. Hogan sold 26,815 shares of the 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 approximately $64,941,369.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Satya Nadella sold 38,234 shares of the firm’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 transaction, the chief executive officer now directly owns 800,668 shares of the company’s stock, valued at approximately $262,963,391.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathleen T. Hogan sold 26,815 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $327.37, for a total transaction of $8,778,426.55. Following the transaction, the executive vice president now directly owns 198,373 shares of the company’s stock, valued at $64,941,369.01. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.

Microsoft Stock Up 1.8 %

Shares of NASDAQ:MSFT opened at $376.17 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.64 and a current ratio of 1.66. The company has a market cap of $2.80 trillion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 2.44 and a beta of 0.88. Microsoft Co. has a 52 week low of $219.35 and a 52 week high of $376.35. The firm has a 50 day simple moving average of $335.46 and a 200 day simple moving average of $331.14.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Tuesday, October 24th. The software giant reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.34. Microsoft had a net margin of 35.31% and a return on equity of 38.79%. The business had revenue of $56.52 billion during the quarter, compared to the consensus estimate of $54.52 billion. During the same period in the prior year, the firm earned $2.35 EPS. Microsoft’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, research analysts expect that Microsoft Co. will post 11.13 earnings per share for the current year.

Microsoft Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be issued a $0.75 dividend. The ex-dividend date is Wednesday, November 15th. This is an increase from Microsoft’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a yield of 0.80%. Microsoft’s dividend payout ratio is 26.33%.

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.