Convergence Financial LLC Grows Holdings in Microsoft Corporation (NASDAQ:MSFT)

Convergence Financial LLC raised its position in Microsoft Corporation (NASDAQ:MSFT) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,915 shares of the software giant’s stock after purchasing an additional 463 shares during the period. Microsoft comprises about 1.2% of Convergence Financial LLC’s investment portfolio, making the stock its 21st largest position. Convergence Financial LLC’s holdings in Microsoft were worth $5,974,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Microsoft by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 684,071,705 shares of the software giant’s stock valued at $288,336,224,000 after purchasing an additional 10,431,988 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Microsoft by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 168,128,024 shares of the software giant’s stock valued at $70,720,874,000 after purchasing an additional 3,103,212 shares in the last quarter. Norges Bank purchased a new position in Microsoft in the 4th quarter valued at about $44,343,058,000. Northern Trust Corp lifted its holdings in shares of Microsoft by 16.1% during the 4th quarter. Northern Trust Corp now owns 83,787,746 shares of the software giant’s stock worth $35,316,535,000 after acquiring an additional 11,600,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Microsoft by 9.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,961,337 shares of the software giant’s stock worth $25,273,704,000 after acquiring an additional 5,370,546 shares during the period. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microsoft

In other Microsoft news, EVP Takeshi Numoto sold 3,000 shares of Microsoft stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Amy Coleman sold 13,243 shares of Microsoft stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $452.01, for a total transaction of $5,985,968.43. Following the completion of the transaction, the executive vice president directly owned 43,100 shares of the company’s stock, valued at approximately $19,481,631. This represents a 23.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 54,743 shares of company stock worth $24,921,913. Company insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

MSFT has been the topic of several recent analyst reports. Westpark Capital reiterated a “hold” rating on shares of Microsoft in a report on Thursday, July 31st. Oppenheimer increased their price objective on shares of Microsoft from $600.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Benchmark reiterated a “buy” rating on shares of Microsoft in a report on Thursday, May 1st. Wells Fargo & Company reiterated an “overweight” rating and set a $650.00 price objective (up from $600.00) on shares of Microsoft in a report on Thursday, July 31st. Finally, Royal Bank Of Canada increased their price objective on shares of Microsoft from $525.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Two analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $609.86.

Microsoft Stock Up 0.2%

MSFT stock opened at $522.04 on Monday. Microsoft Corporation has a twelve month low of $344.79 and a twelve month high of $555.45. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $3.88 trillion, a P/E ratio of 38.27, a PEG ratio of 2.29 and a beta of 1.06. The firm has a 50 day simple moving average of $496.85 and a 200-day simple moving average of $438.17.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings data on Wednesday, July 30th. The software giant reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.35 by $0.30. The firm had revenue of $76.44 billion during the quarter, compared to the consensus estimate of $73.79 billion. Microsoft had a net margin of 36.15% and a return on equity of 32.44%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.95 earnings per share. On average, equities research analysts predict that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 21st. Microsoft’s payout ratio is currently 24.34%.

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.