Parcion Private Wealth LLC boosted its stake in Microsoft Co. (NASDAQ:MSFT – Free Report) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,962 shares of the software giant’s stock after purchasing an additional 5,442 shares during the quarter. Microsoft comprises approximately 2.6% of Parcion Private Wealth LLC’s holdings, making the stock its 9th largest holding. Parcion Private Wealth LLC’s holdings in Microsoft were worth $28,588,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc grew its stake in shares of Microsoft by 169.2% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after buying an additional 44 shares in the last quarter. Richardson Capital Management LLC lifted its holdings in shares of Microsoft by 1,290.0% in the 1st quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock valued at $59,000 after acquiring an additional 129 shares during the last quarter. Innealta Capital LLC purchased a new position in Microsoft in the second quarter worth about $75,000. Bellevue Group AG increased its stake in Microsoft by 47.5% during the first quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after acquiring an additional 58 shares during the last quarter. Finally, Horizon Financial Services LLC purchased a new stake in Microsoft during the first quarter valued at approximately $80,000. Hedge funds and other institutional investors own 71.13% of the company’s stock.
Analyst Ratings Changes
MSFT has been the subject of a number of recent research reports. BMO Capital Markets lifted their target price on Microsoft from $465.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Citigroup cut their price objective on shares of Microsoft from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Oppenheimer lowered shares of Microsoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 8th. Argus upped their price target on shares of Microsoft from $475.00 to $526.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, The Goldman Sachs Group decreased their price objective on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $495.68.
Microsoft Trading Up 2.1 %
Shares of NASDAQ:MSFT opened at $427.51 on Wednesday. The company has a market capitalization of $3.18 trillion, a PE ratio of 37.01, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.16. Microsoft Co. has a 12-month low of $324.39 and a 12-month high of $468.35. The business’s fifty day simple moving average is $420.17 and its 200-day simple moving average is $424.56.
Microsoft (NASDAQ:MSFT – Get Free Report) last posted its earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.05. The company had revenue of $64.73 billion for the quarter, compared to analyst estimates of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.69 earnings per share. As a group, equities research analysts predict that Microsoft Co. will post 13.02 earnings per share for the current fiscal year.
Microsoft Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.83 dividend. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 21st. Microsoft’s payout ratio is currently 28.74%.
Microsoft announced that its board has approved a stock buyback program on Monday, September 16th that authorizes the company to buyback $60.00 billion in shares. This buyback authorization authorizes the software giant to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Insider Transactions at Microsoft
In other news, CEO Satya Nadella sold 14,398 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $417.41, for a total value of $6,009,869.18. Following the completion of the sale, the chief executive officer now owns 786,933 shares of the company’s stock, valued at $328,473,703.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO Takeshi Numoto sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total value of $1,027,600.00. Following the completion of the transaction, the chief marketing officer now directly owns 50,000 shares of the company’s stock, valued at $20,552,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Satya Nadella sold 14,398 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $417.41, for a total transaction of $6,009,869.18. Following the sale, the chief executive officer now directly owns 786,933 shares in the company, valued at approximately $328,473,703.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,629 shares of company stock valued at $77,916,485. Corporate insiders own 0.03% of the company’s stock.
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.
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