Biltmore Family Office LLC Increases Holdings in Microsoft Co. (NASDAQ:MSFT)

Biltmore Family Office LLC grew its position in Microsoft Co. (NASDAQ:MSFTFree Report) by 9.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 32,381 shares of the software giant’s stock after buying an additional 2,824 shares during the period. Microsoft accounts for approximately 2.7% of Biltmore Family Office LLC’s investment portfolio, making the stock its 4th largest holding. Biltmore Family Office LLC’s holdings in Microsoft were worth $14,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. AGF Management Ltd. boosted its holdings in Microsoft by 2.6% in the second quarter. AGF Management Ltd. now owns 550,196 shares of the software giant’s stock valued at $245,910,000 after acquiring an additional 13,842 shares during the last quarter. Kinsale Capital Group Inc. lifted its position in Microsoft by 18.4% during the 2nd quarter. Kinsale Capital Group Inc. now owns 17,471 shares of the software giant’s stock valued at $7,809,000 after purchasing an additional 2,721 shares during the period. Studio Investment Management LLC boosted its stake in shares of Microsoft by 2.2% in the 2nd quarter. Studio Investment Management LLC now owns 22,834 shares of the software giant’s stock valued at $10,206,000 after purchasing an additional 486 shares during the last quarter. Spectrum Wealth Advisory Group LLC grew its position in shares of Microsoft by 4.6% during the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 2,856 shares of the software giant’s stock worth $1,277,000 after buying an additional 126 shares during the period. Finally, Blue Square Asset Management LLC grew its position in shares of Microsoft by 2.1% during the 2nd quarter. Blue Square Asset Management LLC now owns 8,248 shares of the software giant’s stock worth $3,686,000 after buying an additional 169 shares during the period. Institutional investors own 71.13% of the company’s stock.

Microsoft Trading Up 0.8 %

Microsoft stock opened at $428.15 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a 50-day moving average of $420.59 and a 200-day moving average of $424.59. The company has a market cap of $3.18 trillion, a price-to-earnings ratio of 37.07, a P/E/G ratio of 2.24 and a beta of 0.90. Microsoft Co. has a one year low of $326.94 and a one year high of $468.35.

Microsoft (NASDAQ:MSFTGet Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.05. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The firm had revenue of $64.73 billion for the quarter, compared to analyst estimates of $64.38 billion. During the same quarter in the previous year, the firm earned $2.69 EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts expect 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 paid a $0.83 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.32 dividend on an annualized basis and a yield of 0.78%. This is a boost from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s dividend payout ratio (DPR) is currently 28.74%.

Microsoft declared that its Board of Directors has authorized a stock buyback plan on Monday, September 16th that authorizes the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization authorizes the software giant to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of Microsoft from $485.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Mizuho lifted their price objective on Microsoft from $450.00 to $480.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. UBS Group reduced their target price on Microsoft from $520.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. KeyCorp boosted their target price on Microsoft from $490.00 to $505.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group cut their price target on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $502.97.

Check Out Our Latest Analysis on MSFT

Insider Activity

In other news, CEO Satya Nadella sold 78,353 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $408.63, for a total value of $32,017,386.39. Following the sale, the chief executive officer now directly owns 864,327 shares of the company’s stock, valued at approximately $353,189,942.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Microsoft news, CEO Satya Nadella sold 78,353 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the transaction, the chief executive officer now owns 864,327 shares of the company’s stock, valued at $353,189,942.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradford L. Smith sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $402.59, for a total value of $16,103,600.00. Following the completion of the sale, the insider now directly owns 544,847 shares of the company’s stock, valued at approximately $219,349,953.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 190,629 shares of company stock valued at $77,916,485 in the last quarter. Company insiders own 0.03% of the company’s stock.

About Microsoft

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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