Wesbanco Bank Inc. raised its holdings in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 321,307 shares of the software giant’s stock after purchasing an additional 16,403 shares during the quarter. Microsoft makes up 4.7% of Wesbanco Bank Inc.’s holdings, making the stock its 2nd biggest position. Wesbanco Bank Inc.’s holdings in Microsoft were worth $159,821,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. WFA Asset Management Corp increased its position in Microsoft by 27.0% during the 1st quarter. WFA Asset Management Corp now owns 1,016 shares of the software giant’s stock worth $427,000 after buying an additional 216 shares during the period. Ironwood Wealth Management LLC. increased its position in Microsoft by 0.3% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 12,658 shares of the software giant’s stock worth $5,658,000 after buying an additional 38 shares during the period. Discipline Wealth Solutions LLC increased its position in Microsoft by 410.4% during the 3rd quarter. Discipline Wealth Solutions LLC now owns 2,659 shares of the software giant’s stock worth $1,144,000 after buying an additional 2,138 shares during the period. Wealth Group Ltd. increased its position in Microsoft by 1.2% during the 4th quarter. Wealth Group Ltd. now owns 2,374 shares of the software giant’s stock worth $1,000,000 after buying an additional 28 shares during the period. Finally, Eagle Capital Management LLC increased its position in Microsoft by 0.4% during the 4th quarter. Eagle Capital Management LLC now owns 23,097 shares of the software giant’s stock worth $9,735,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 71.13% of the company’s stock.
Microsoft Stock Performance
Shares of MSFT stock opened at $508.45 on Friday. The business’s 50-day moving average price is $511.42 and its 200-day moving average price is $457.02. Microsoft Corporation has a 12 month low of $344.79 and a 12 month high of $555.45. The firm has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 37.28, a PEG ratio of 2.22 and a beta of 1.04. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.12.
Microsoft Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be paid a $0.91 dividend. This is an increase from Microsoft’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 20th. Microsoft’s payout ratio is presently 24.34%.
Wall Street Analyst Weigh In
MSFT has been the topic of several recent research reports. Barclays reiterated an “overweight” rating and set a $625.00 price objective on shares of Microsoft in a research report on Friday, August 29th. KeyCorp upgraded Microsoft from a “sector weight” rating to an “overweight” rating and set a $630.00 price objective on the stock in a research report on Thursday, July 31st. Wall Street Zen upgraded Microsoft from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. BMO Capital Markets increased their price objective on Microsoft from $550.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, Sanford C. Bernstein raised their price target on Microsoft from $540.00 to $637.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Microsoft presently has a consensus rating of “Moderate Buy” and a consensus price target of $612.54.
Read Our Latest Stock Analysis on MSFT
Insider Buying and Selling
In related news, CEO Satya Nadella sold 149,205 shares of Microsoft stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $504.78, for a total value of $75,315,699.90. Following the transaction, the chief executive officer directly owned 790,852 shares of the company’s stock, valued at $399,206,272.56. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Takeshi Numoto sold 4,850 shares of Microsoft stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $527.32, for a total value of $2,557,502.00. Following the completion of the transaction, the executive vice president directly owned 39,111 shares in the company, valued at approximately $20,624,012.52. This represents a 11.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.03% of the stock is owned by insiders.
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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