626 Financial LLC increased its holdings in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,530 shares of the software giant’s stock after buying an additional 21 shares during the quarter. Microsoft accounts for approximately 5.5% of 626 Financial LLC’s holdings, making the stock its 4th largest holding. 626 Financial LLC’s holdings in Microsoft were worth $10,212,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS raised its stake in Microsoft by 3.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 2,757,568 shares of the software giant’s stock worth $1,371,642,000 after buying an additional 89,800 shares during the period. RMG Wealth Management LLC acquired a new stake in Microsoft during the 2nd quarter worth $865,000. Bingham Private Wealth LLC raised its stake in Microsoft by 44.8% during the 2nd quarter. Bingham Private Wealth LLC now owns 15,541 shares of the software giant’s stock worth $7,730,000 after buying an additional 4,811 shares during the period. Clark & Stuart Inc raised its stake in Microsoft by 11.2% during the 2nd quarter. Clark & Stuart Inc now owns 3,052 shares of the software giant’s stock worth $1,518,000 after buying an additional 307 shares during the period. Finally, Defined Financial Planning LLC raised its stake in Microsoft by 3.3% during the 2nd quarter. Defined Financial Planning LLC now owns 6,131 shares of the software giant’s stock worth $3,101,000 after buying an additional 194 shares during the period. Institutional investors and hedge funds own 71.13% of the company’s stock.
Microsoft Price Performance
Shares of NASDAQ MSFT opened at $541.55 on Thursday. Microsoft Corporation has a fifty-two week low of $344.79 and a fifty-two week high of $555.45. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $4.03 trillion, a price-to-earnings ratio of 39.70, a PEG ratio of 2.36 and a beta of 1.03. The business has a 50-day moving average of $513.17 and a 200-day moving average of $485.65.
Microsoft Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be issued a dividend of $0.91 per share. The ex-dividend date is Thursday, November 20th. 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 yield of 0.7%. Microsoft’s dividend payout ratio is 24.34%.
Analyst Ratings Changes
A number of equities analysts have issued reports on MSFT shares. The Goldman Sachs Group reiterated a “buy” rating and set a $630.00 target price on shares of Microsoft in a report on Tuesday. Mizuho set a $640.00 target price on Microsoft in a report on Tuesday. Royal Bank Of Canada set a $640.00 target price on Microsoft in a report on Wednesday. Arete increased their target price on Microsoft from $700.00 to $710.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Stifel Nicolaus increased their target price on Microsoft from $500.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $626.58.
Check Out Our Latest Stock Analysis on MSFT
Insider Transactions at Microsoft
In other Microsoft news, EVP Takeshi Numoto sold 4,850 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 39,111 shares in the company, valued at $20,624,012.52. This trade represents a 11.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Satya Nadella sold 149,205 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $504.78, for a total transaction of $75,315,699.90. Following the sale, the chief executive officer owned 790,852 shares of the company’s stock, valued at $399,206,272.56. This trade represents a 15.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.03% of the company’s stock.
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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