Pitti Group Wealth Management LLC Sells 608 Shares of Microsoft Co. (NASDAQ:MSFT)

Pitti Group Wealth Management LLC lowered its position in shares of Microsoft Co. (NASDAQ:MSFT) by 13.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,978 shares of the software giant’s stock after selling 608 shares during the period. Microsoft accounts for approximately 1.5% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Pitti Group Wealth Management LLC’s holdings in Microsoft were worth $1,355,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Sightline Wealth Advisors LLC increased its position in Microsoft by 0.9% in the 2nd quarter. Sightline Wealth Advisors LLC now owns 3,337 shares of the software giant’s stock valued at $962,000 after buying an additional 29 shares in the last quarter. Stevens Capital Partners increased its holdings in Microsoft by 2.0% during the 2nd quarter. Stevens Capital Partners now owns 1,516 shares of the software giant’s stock worth $516,000 after purchasing an additional 29 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its holdings in Microsoft by 0.3% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 10,577 shares of the software giant’s stock worth $3,602,000 after purchasing an additional 31 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its holdings in Microsoft by 0.8% during the 1st quarter. Strategic Investment Solutions Inc. IL now owns 4,208 shares of the software giant’s stock worth $1,213,000 after purchasing an additional 32 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV boosted its stake in shares of Microsoft by 0.5% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 7,166 shares of the software giant’s stock worth $2,074,000 after buying an additional 33 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

Insider Activity

In other news, CEO Satya Nadella sold 38,234 shares of Microsoft stock in a transaction that occurred on 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 in the company, valued at $262,963,391.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Microsoft 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 transaction of $8,778,426.55. Following the completion of the sale, the executive vice president now directly owns 198,373 shares in the company, valued at approximately $64,941,369.01. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Satya Nadella sold 38,234 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 800,668 shares of the company’s stock, valued at $262,963,391.24. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

Microsoft Stock Down 1.7 %

NASDAQ MSFT opened at $369.85 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.66 and a quick ratio of 1.64. The stock has a market capitalization of $2.75 trillion, a PE ratio of 35.80, a PEG ratio of 2.51 and a beta of 0.88. Microsoft Co. has a 1 year low of $219.35 and a 1 year high of $376.35. The business’s 50-day moving average is $336.17 and its 200 day moving average is $331.77.

Microsoft (NASDAQ:MSFT) last posted its earnings results 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. The company had revenue of $56.52 billion for the quarter, compared to analysts’ expectations of $54.52 billion. Microsoft had a return on equity of 38.79% and a net margin of 35.31%. Microsoft’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $2.35 earnings per share. Sell-side analysts forecast that Microsoft Co. will post 11.13 earnings per share for the current year.

Microsoft Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.81%. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, November 15th. Microsoft’s dividend payout ratio (DPR) is presently 29.04%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MSFT. Jefferies Financial Group restated a “buy” rating and issued a $400.00 target price on shares of Microsoft in a research note on Monday, October 2nd. Rosenblatt Securities upped their price objective on Microsoft from $370.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. BMO Capital Markets upped their price objective on Microsoft from $385.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Loop Capital began coverage on shares of Microsoft in a report on Tuesday, October 17th. They set a “buy” rating and a $425.00 target price on the stock. Finally, Citigroup boosted their target price on shares of Microsoft from $430.00 to $432.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and thirty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $385.11.

Microsoft Company Profile

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.