Pitti Group Wealth Management LLC trimmed its stake in Microsoft Corporation (NASDAQ:MSFT – Free Report) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,726 shares of the software giant’s stock after selling 151 shares during the period. Microsoft makes up 1.6% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding. Pitti Group Wealth Management LLC’s holdings in Microsoft were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Newton One Investments LLC grew its position in shares of Microsoft by 66.7% in the 1st quarter. Newton One Investments LLC now owns 75 shares of the software giant’s stock valued at $28,000 after buying an additional 30 shares during the last quarter. Ball & Co Wealth Management Inc. purchased a new position in shares of Microsoft in the 4th quarter valued at $31,000. Bulwark Capital Corp purchased a new position in shares of Microsoft in the 2nd quarter valued at $32,000. Westend Capital Management LLC grew its position in shares of Microsoft by 386.7% in the 2nd quarter. Westend Capital Management LLC now owns 73 shares of the software giant’s stock valued at $36,000 after buying an additional 58 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in Microsoft during the 4th quarter worth $44,000. 71.13% of the stock is owned by hedge funds and other institutional investors.
Microsoft Stock Up 0.2%
Shares of NASDAQ MSFT opened at $524.85 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.12. Microsoft Corporation has a 52 week low of $344.79 and a 52 week high of $555.45. The firm has a 50-day moving average price of $513.61 and a 200 day moving average price of $469.46. The stock has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 2.28 and a beta of 1.03.
Microsoft Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be issued a dividend of $0.91 per share. This is an increase from Microsoft’s previous quarterly dividend of $0.83. The ex-dividend date is Thursday, November 20th. This represents a $3.64 annualized dividend and a yield of 0.7%. Microsoft’s payout ratio is 24.34%.
Insider Activity
In other Microsoft news, CEO Satya Nadella sold 149,205 shares of the firm’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 transaction, the chief executive officer directly owned 790,852 shares in the company, valued at approximately $399,206,272.56. This trade represents a 15.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Takeshi Numoto sold 4,850 shares of the firm’s 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 owned 39,111 shares of the company’s stock, valued at $20,624,012.52. This trade represents a 11.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.
Analyst Ratings Changes
MSFT has been the subject of a number of recent research reports. Evercore ISI increased their price target on shares of Microsoft from $515.00 to $545.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. DA Davidson increased their price target on shares of Microsoft from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Royal Bank Of Canada reiterated a “buy” rating and set a $640.00 price target on shares of Microsoft in a research note on Friday, October 3rd. Scotiabank increased their price target on shares of Microsoft from $500.00 to $650.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. Finally, Jefferies Financial Group increased their price target on shares of Microsoft from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $618.47.
Read Our Latest Research Report on MSFT
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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