Parr Mcknight Wealth Management Group LLC Buys New Stake in Microsoft Corporation (NASDAQ:MSFT)

Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Microsoft Corporation (NASDAQ:MSFT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 74,647 shares of the software giant’s stock, valued at approximately $31,464,000. Microsoft comprises approximately 4.5% of Parr Mcknight Wealth Management Group LLC’s portfolio, making the stock its 4th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fiduciary Advisors Inc. purchased a new position in shares of Microsoft during the fourth quarter worth $38,000. IFS Advisors LLC grew its position in shares of Microsoft by 53.8% in the fourth quarter. IFS Advisors LLC now owns 100 shares of the software giant’s stock valued at $42,000 after purchasing an additional 35 shares during the period. LSV Asset Management acquired a new stake in shares of Microsoft in the fourth quarter valued at about $44,000. Fairway Wealth LLC acquired a new stake in shares of Microsoft in the fourth quarter valued at about $62,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Microsoft in the fourth quarter valued at about $120,000. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Microsoft Stock Up 0.5%

Shares of NASDAQ:MSFT opened at $480.24 on Thursday. The stock has a market cap of $3.57 trillion, a P/E ratio of 37.11, a P/E/G ratio of 2.43 and a beta of 1.03. The firm has a fifty day moving average price of $434.09 and a 200 day moving average price of $419.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.37 and a quick ratio of 1.36. Microsoft Corporation has a 1-year low of $344.79 and a 1-year high of $481.00.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, April 30th. The software giant reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.24. The company had revenue of $70.07 billion during the quarter, compared to the consensus estimate of $68.54 billion. Microsoft had a net margin of 35.79% and a return on equity of 32.74%. Microsoft’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.94 EPS. Sell-side analysts predict that Microsoft Corporation will post 13.08 EPS for the current year.

Microsoft Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.83 per share. The ex-dividend date is Thursday, August 21st. This represents a $3.32 annualized dividend and a yield of 0.69%. Microsoft’s dividend payout ratio (DPR) is currently 25.66%.

Insider Buying and Selling at Microsoft

In related news, EVP Amy Coleman sold 13,243 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $452.01, for a total value of $5,985,968.43. Following the sale, the executive vice president now directly owns 43,100 shares of the company’s stock, valued at approximately $19,481,631. This trade represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Takeshi Numoto sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $463.00, for a total transaction of $1,389,000.00. Following the completion of the sale, the executive vice president now directly owns 43,930 shares in the company, valued at $20,339,590. This represents a 6.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 135,743 shares of company stock worth $60,224,683. 0.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MSFT. Benchmark restated a “buy” rating on shares of Microsoft in a research report on Thursday, May 1st. Bank of America reduced their price target on shares of Microsoft from $510.00 to $480.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen downgraded shares of Microsoft from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Tigress Financial lifted their price objective on shares of Microsoft from $550.00 to $595.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Finally, Stifel Nicolaus boosted their price target on shares of Microsoft from $475.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $515.68.

Microsoft 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.