Seaside Wealth Management Inc. lifted its stake in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) by 121.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,868 shares of the software giant’s stock after purchasing an additional 1,572 shares during the quarter. Microsoft comprises approximately 0.5% of Seaside Wealth Management Inc.’s portfolio, making the stock its 19th biggest position. Seaside Wealth Management Inc.’s holdings in Microsoft were worth $1,427,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Newton One Investments LLC grew its holdings in Microsoft by 66.7% during the first quarter. Newton One Investments LLC now owns 75 shares of the software giant’s stock worth $28,000 after acquiring an additional 30 shares during the period. Ball & Co Wealth Management Inc. purchased a new stake in shares of Microsoft during the 4th quarter worth $31,000. Bulwark Capital Corp acquired a new position in shares of Microsoft during the 2nd quarter worth $32,000. LSV Asset Management purchased a new position in shares of Microsoft in the 4th quarter valued at about $44,000. Finally, IFS Advisors LLC lifted its stake in shares of Microsoft by 50.0% in the first quarter. IFS Advisors LLC now owns 150 shares of the software giant’s stock valued at $57,000 after purchasing an additional 50 shares during the period. 71.13% of the stock is owned by institutional investors and hedge funds.
Microsoft Trading Up 0.2%
Microsoft stock opened at $510.15 on Thursday. The stock has a 50-day moving average price of $512.10 and a 200 day moving average price of $460.28. Microsoft Corporation has a 52 week low of $344.79 and a 52 week high of $555.45. The stock has a market cap of $3.79 trillion, a PE ratio of 37.40, a P/E/G 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 company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 20th. This is an increase from Microsoft’s previous quarterly dividend of $0.83. Microsoft’s dividend payout ratio is presently 24.34%.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. Wells Fargo & Company restated an “overweight” rating and set a $650.00 target price (up from $600.00) on shares of Microsoft in a research report on Thursday, July 31st. Truist Financial upped their price target on Microsoft from $650.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, August 18th. UBS Group reaffirmed a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Microsoft in a report on Thursday, July 31st. Wedbush upped their target price on Microsoft from $600.00 to $625.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Scotiabank raised their price target on Microsoft from $500.00 to $650.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Microsoft currently has an average rating of “Moderate Buy” and a consensus price target of $612.54.
Read Our Latest Research Report on Microsoft
Insider Buying and Selling at Microsoft
In other Microsoft news, EVP Takeshi Numoto sold 4,850 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $527.32, for a total transaction of $2,557,502.00. Following the transaction, the executive vice president owned 39,111 shares of the company’s stock, valued at $20,624,012.52. This represents a 11.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Satya Nadella sold 149,205 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 790,852 shares in the company, valued at $399,206,272.56. This trade represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.
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.
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