Abound Wealth Management raised its position in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) by 6.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,022 shares of the software giant’s stock after acquiring an additional 391 shares during the quarter. Microsoft makes up approximately 0.8% of Abound Wealth Management’s holdings, making the stock its 22nd largest position. Abound Wealth Management’s holdings in Microsoft were worth $2,995,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Microsoft in the 4th quarter worth about $44,343,058,000. Kingstone Capital Partners Texas LLC grew its position in Microsoft by 564,387.1% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 90,549,369 shares of the software giant’s stock worth $45,040,162,000 after purchasing an additional 90,533,328 shares during the period. Nuveen LLC purchased a new stake in Microsoft during the first quarter valued at $18,733,827,000. GAMMA Investing LLC lifted its stake in shares of Microsoft by 40,290.4% in the 1st quarter. GAMMA Investing LLC now owns 46,695,303 shares of the software giant’s stock worth $17,528,950,000 after purchasing an additional 46,579,693 shares during the period. Finally, Northern Trust Corp raised its position in Microsoft by 16.1% in the fourth 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. 71.13% of the stock is owned by hedge funds and other institutional investors.
Microsoft Stock Up 0.3%
Shares of NASDAQ MSFT opened at $519.71 on Thursday. Microsoft Corporation has a 52-week low of $344.79 and a 52-week high of $555.45. The firm has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.26 and a beta of 1.03. The stock has a 50 day moving average price of $512.66 and a 200 day moving average price of $464.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.35 and a current ratio of 1.35.
Microsoft Increases Dividend
The firm 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 represents a $3.64 dividend on an annualized basis and a yield of 0.7%. This is a boost from Microsoft’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Thursday, November 20th. Microsoft’s payout ratio is currently 24.34%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on MSFT. Arete lifted their price objective on Microsoft from $700.00 to $710.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald boosted their target price on Microsoft from $581.00 to $639.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Piper Sandler increased their price objective on shares of Microsoft from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Mizuho lifted their target price on Microsoft from $540.00 to $625.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, UBS Group reiterated a “buy” rating and set a $650.00 price target (up from $600.00) on shares of Microsoft in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and an average price target of $617.63.
Read Our Latest Analysis on MSFT
Insider Activity
In other Microsoft news, EVP Takeshi Numoto sold 4,850 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $527.32, for a total transaction of $2,557,502.00. Following the transaction, the executive vice president directly owned 39,111 shares in the company, valued at $20,624,012.52. This represents a 11.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Satya Nadella sold 149,205 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $504.78, for a total transaction of $75,315,699.90. Following the completion of the sale, the chief executive officer owned 790,852 shares of the company’s stock, valued at approximately $399,206,272.56. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. 0.03% of the stock is owned by corporate 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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