Legend Financial Advisors Inc. acquired a new stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 604 shares of the software giant’s stock, valued at approximately $140,000.
Several other hedge funds also recently modified their holdings of the company. Monumental Financial Group Inc. acquired a new position in Microsoft during the 1st quarter worth about $28,000. Hanseatic Management Services Inc. raised its position in shares of Microsoft by 71.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 132 shares of the software giant’s stock worth $31,000 after acquiring an additional 55 shares in the last quarter. Morgan Dempsey Capital Management LLC bought a new position in shares of Microsoft in the 3rd quarter worth about $82,000. Avondale Wealth Management raised its position in shares of Microsoft by 58.6% in the 3rd quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock worth $95,000 after acquiring an additional 150 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. raised its position in shares of Microsoft by 57.5% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock worth $95,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 69.15% of the company’s stock.
Wall Street Analyst Weigh In
MSFT has been the subject of a number of research analyst reports. Barclays decreased their target price on Microsoft from $296.00 to $280.00 and set an “overweight” rating for the company in a research report on Tuesday, January 10th. Rosenblatt Securities decreased their target price on Microsoft from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. Evercore ISI decreased their price target on Microsoft from $300.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, January 19th. UBS Group set a $250.00 price objective on Microsoft in a research note on Tuesday. Finally, Raymond James dropped their price objective on Microsoft from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $285.58.
Microsoft Stock Up 1.8 %
Microsoft (NASDAQ:MSFT – Get Rating) last released its earnings results on Tuesday, January 24th. The software giant reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.05. The company had revenue of $52.75 billion during the quarter, compared to the consensus estimate of $53.17 billion. Microsoft had a return on equity of 39.87% and a net margin of 33.05%. Microsoft’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.48 EPS. Sell-side analysts expect that Microsoft Co. will post 9.34 earnings per share for the current fiscal year.
Microsoft Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Thursday, May 18th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Wednesday, May 17th. Microsoft’s dividend payout ratio (DPR) is presently 30.22%.
Insiders Place Their Bets
In other Microsoft news, CMO Christopher C. Capossela sold 1,000 shares of the firm’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $272.32, for a total value of $272,320.00. Following the sale, the chief marketing officer now owns 116,362 shares of the company’s stock, valued at approximately $31,687,699.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Microsoft news, CMO Christopher C. Capossela sold 1,000 shares of the firm’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $272.32, for a total value of $272,320.00. Following the sale, the chief marketing officer now owns 116,362 shares of the company’s stock, valued at approximately $31,687,699.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Satya Nadella sold 4,767 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $248.88, for a total transaction of $1,186,410.96. Following the completion of the sale, the chief executive officer now directly owns 788,625 shares in the company, valued at approximately $196,272,990. The disclosure for this sale can be found here. Insiders have sold a total of 6,767 shares of company stock valued at $1,728,111 in the last quarter. Insiders own 0.03% of the company’s stock.
Microsoft Profile
Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment consists of Office Commercial (Office 365 subscriptions, the Office 365 portion of Microsoft 365 Commercial subscriptions, and Office licensed on-premises), Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, Office Consumer, including Microsoft 365 Consumer subscriptions, Office licensed on-premises, and other Office services, LinkedIn, including Talent Solutions, Marketing Solutions, Premium Subscriptions, Sales Solutions, and Learning Solutions, Dynamics business solutions, including Dynamics 365, comprising a set of intelligent, cloud-based applications across ERP, CRM, Customer Insights, Power Apps, and Power Automate, and on-premises ERP and CRM applications.
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