Glassy Mountain Advisors Inc. Purchases Shares of 35,900 Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Mar 22nd, 2023

Glassy Mountain Advisors Inc. acquired a new position in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 35,900 shares of the software giant’s stock, valued at approximately $8,610,000. Microsoft comprises 4.7% of Glassy Mountain Advisors Inc.’s investment portfolio, making the stock its 3rd largest holding.

Other institutional investors also recently modified their holdings of the company. Monumental Financial Group Inc. acquired a new position in shares of Microsoft during the 1st quarter worth about $28,000. Hanseatic Management Services Inc. increased its stake in shares of Microsoft by 71.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 132 shares of the software giant’s stock worth $31,000 after purchasing an additional 55 shares during the last quarter. Morgan Dempsey Capital Management LLC acquired a new position in shares of Microsoft during the 3rd quarter worth about $82,000. Avondale Wealth Management increased its stake in shares of Microsoft by 58.6% during the 3rd quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock worth $95,000 after purchasing an additional 150 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. increased its stake in shares of Microsoft by 57.5% during the 3rd quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock worth $95,000 after purchasing an additional 150 shares during the last quarter. 69.15% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Price Performance

MSFT stock opened at $273.78 on Wednesday. The company has a 50 day simple moving average of $254.11 and a 200 day simple moving average of $245.52. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 2.57 and a beta of 0.92. Microsoft Co. has a 1 year low of $213.43 and a 1 year high of $315.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.89.

Microsoft (NASDAQ:MSFT – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The software giant reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.05. The business had revenue of $52.75 billion during the quarter, compared to analysts’ expectations of $53.17 billion. Microsoft had a net margin of 33.05% and a return on equity of 39.87%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.48 EPS. Research analysts anticipate that Microsoft Co. will post 9.34 EPS for the current fiscal year.

Microsoft Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Thursday, May 18th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Wednesday, May 17th. Microsoft’s dividend payout ratio is 30.22%.

Insider Buying and Selling

In other Microsoft news, CMO Christopher C. Capossela sold 1,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now directly owns 116,362 shares in the company, valued at approximately $31,687,699.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Microsoft news, CMO Christopher C. Capossela sold 1,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now directly owns 116,362 shares in the company, valued at approximately $31,687,699.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Satya Nadella sold 4,767 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $248.88, for a total transaction of $1,186,410.96. Following the completion of the transaction, the chief executive officer now owns 788,625 shares of the company’s stock, valued at $196,272,990. The disclosure for this sale can be found here. Insiders sold a total of 6,767 shares of company stock worth $1,728,111 in the last three months. 0.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Guggenheim lowered shares of Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 price objective on the stock. in a research note on Tuesday, January 17th. DA Davidson lifted their target price on shares of Microsoft from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Credit Suisse Group set a $285.00 target price on shares of Microsoft in a report on Thursday, March 2nd. Raymond James reduced their target price on shares of Microsoft from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 25th. Finally, Jefferies Financial Group set a $310.00 target price on shares of Microsoft in a report on Monday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $287.30.

Microsoft Profile

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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.