Jacksonville Wealth Management LLC Reduces Holdings in Microsoft Corporation (NASDAQ:MSFT)

Jacksonville Wealth Management LLC cut its stake in shares of Microsoft Corporation (NASDAQ:MSFT) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,010 shares of the software giant’s stock after selling 50 shares during the quarter. Microsoft accounts for about 1.9% of Jacksonville Wealth Management LLC’s investment portfolio, making the stock its 17th largest holding. Jacksonville Wealth Management LLC’s holdings in Microsoft were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fosun International Ltd increased its holdings in shares of Microsoft by 0.3% in the first quarter. Fosun International Ltd now owns 6,633 shares of the software giant’s stock worth $2,490,000 after purchasing an additional 23 shares during the last quarter. Muirfield Wealth Advisors LLC increased its holdings in shares of Microsoft by 0.5% in the fourth quarter. Muirfield Wealth Advisors LLC now owns 4,427 shares of the software giant’s stock worth $1,866,000 after purchasing an additional 24 shares during the last quarter. Retirement Financial Solutions LLC increased its holdings in shares of Microsoft by 2.3% in the fourth quarter. Retirement Financial Solutions LLC now owns 1,050 shares of the software giant’s stock worth $443,000 after purchasing an additional 24 shares during the last quarter. Kuhn & Co Investment Counsel increased its holdings in shares of Microsoft by 0.8% in the fourth quarter. Kuhn & Co Investment Counsel now owns 3,286 shares of the software giant’s stock worth $1,385,000 after purchasing an additional 25 shares during the last quarter. Finally, Alliance Wealth Management Group increased its holdings in shares of Microsoft by 0.4% in the fourth quarter. Alliance Wealth Management Group now owns 5,617 shares of the software giant’s stock worth $2,368,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 71.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wedbush lifted their target price on Microsoft from $515.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. Stifel Nicolaus lifted their price target on Microsoft from $475.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Oppenheimer upgraded Microsoft from a “market perform” rating to an “outperform” rating and set a $600.00 price target for the company in a research report on Wednesday, July 9th. Morgan Stanley reiterated an “overweight” rating and issued a $530.00 price target (up previously from $482.00) on shares of Microsoft in a research report on Thursday, June 26th. Finally, Mizuho lifted their price target on Microsoft from $475.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $534.14.

Microsoft Stock Up 0.6%

Shares of NASDAQ MSFT opened at $505.82 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.36 and a current ratio of 1.37. The firm has a market capitalization of $3.76 trillion, a price-to-earnings ratio of 39.09, a PEG ratio of 2.28 and a beta of 1.04. The stock has a 50 day moving average price of $473.43 and a 200 day moving average price of $426.73. Microsoft Corporation has a 52-week low of $344.79 and a 52-week high of $508.30.

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

Microsoft Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Thursday, August 21st. Microsoft’s dividend payout ratio (DPR) is 25.66%.

Insider Buying and Selling

In related news, EVP Takeshi Numoto sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $463.00, for a total value of $1,389,000.00. Following the completion of the transaction, the executive vice president owned 43,930 shares of the company’s stock, valued at $20,339,590. The trade was a 6.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bradford L. Smith sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $436.05, for a total transaction of $32,703,750.00. Following the completion of the transaction, the insider directly owned 476,999 shares of the company’s stock, valued at $207,995,413.95. This trade represents a 13.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,743 shares of company stock valued at $60,224,683 over the last ninety days. Company 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.