Stone Asset Management Inc. Has $349,000 Stock Position in Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Apr 20th, 2023

Stone Asset Management Inc. decreased its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 33.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,455 shares of the software giant’s stock after selling 725 shares during the quarter. Stone Asset Management Inc.’s holdings in Microsoft were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Eagle Rock Investment Company LLC grew its stake in Microsoft by 46.2% during the 4th quarter. Eagle Rock Investment Company LLC now owns 35,739 shares of the software giant’s stock valued at $8,426,000 after acquiring an additional 11,287 shares in the last quarter. Enzi Wealth grew its stake in Microsoft by 2.7% during the 4th quarter. Enzi Wealth now owns 1,762 shares of the software giant’s stock valued at $426,000 after acquiring an additional 47 shares in the last quarter. FinDec Wealth Services Inc. purchased a new position in Microsoft during the 4th quarter valued at about $370,000. Grimes & Company Inc. grew its stake in Microsoft by 3.9% during the 4th quarter. Grimes & Company Inc. now owns 165,636 shares of the software giant’s stock valued at $39,723,000 after acquiring an additional 6,266 shares in the last quarter. Finally, Verum Partners LLC purchased a new position in Microsoft during the 4th quarter valued at about $735,000. Institutional investors and hedge funds own 69.15% of the company’s stock.

Insider Activity

In other news, CEO Satya Nadella sold 4,767 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 788,625 shares in the company, valued at $196,272,990. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Microsoft news, CMO Christopher C. Capossela sold 1,000 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $272.32, for a total value of $272,320.00. Following the sale, the chief marketing officer now directly owns 116,362 shares in the company, valued at $31,687,699.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Satya Nadella sold 4,767 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $248.88, for a total value of $1,186,410.96. Following the completion of the sale, the chief executive officer now owns 788,625 shares in the company, valued at $196,272,990. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,767 shares of company stock worth $1,728,111. Company insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Rosenblatt Securities lowered their target price on Microsoft from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, January 26th. Bank of America lifted their price target on Microsoft from $300.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group set a $275.00 price target on Microsoft in a report on Monday, March 20th. Credit Suisse Group set a $285.00 price target on Microsoft in a report on Thursday, March 2nd. Finally, StockNews.com began coverage on Microsoft in a report on Thursday, March 16th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and an average target price of $297.71.

Microsoft Stock Performance

Shares of NASDAQ MSFT opened at $288.45 on Thursday. The company has a quick ratio of 1.89, a current ratio of 1.93 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $270.00 and its two-hundred day moving average is $251.03. The company has a market cap of $2.15 trillion, a P/E ratio of 32.05, a P/E/G ratio of 2.53 and a beta of 0.93. Microsoft Co. has a 12 month low of $213.43 and a 12 month high of $294.18.

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, beating analysts’ consensus estimates of $2.27 by $0.05. The business had revenue of $52.75 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.48 earnings per share. On average, equities analysts expect that Microsoft Co. will post 9.31 EPS for the current year.

Microsoft Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders 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 dividend yield of 0.94%. The ex-dividend date of this dividend is Wednesday, May 17th. Microsoft’s dividend payout ratio is presently 30.22%.

Microsoft Company 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.