Independent Wealth Network Inc. Purchases 184 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by on Apr 20th, 2023

Independent Wealth Network Inc. grew its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,334 shares of the software giant’s stock after purchasing an additional 184 shares during the period. Microsoft comprises approximately 1.4% of Independent Wealth Network Inc.’s portfolio, making the stock its 15th biggest position. Independent Wealth Network Inc.’s holdings in Microsoft were worth $1,999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Unique Wealth LLC purchased a new position in Microsoft in the fourth quarter valued at approximately $846,000. Westhampton Capital LLC increased its holdings in shares of Microsoft by 8.3% in the fourth quarter. Westhampton Capital LLC now owns 8,517 shares of the software giant’s stock worth $2,043,000 after purchasing an additional 650 shares during the period. Pettee Investors Inc. increased its stake in Microsoft by 6.2% in the fourth quarter. Pettee Investors Inc. now owns 19,577 shares of the software giant’s stock valued at $4,695,000 after acquiring an additional 1,145 shares during the last quarter. Jackson Hill Advisors LLC grew its stake in shares of Microsoft by 54.5% during the fourth quarter. Jackson Hill Advisors LLC now owns 39,000 shares of the software giant’s stock valued at $9,353,000 after buying an additional 13,750 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in shares of Microsoft by 3.5% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 48,927 shares of the software giant’s stock valued at $11,734,000 after buying an additional 1,653 shares during the last quarter. 69.15% of the stock is owned by institutional investors.

Microsoft Trading Up 0.0 %

MSFT opened at $288.45 on Thursday. The firm has a market capitalization 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. The firm’s 50 day moving average is $270.00 and its 200-day moving average is $251.03. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $294.18. The company has a quick ratio of 1.89, a current ratio of 1.93 and a debt-to-equity ratio of 0.24.

Microsoft (NASDAQ:MSFT – Get Rating) last issued its quarterly earnings results 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 analyst estimates of $53.17 billion. Microsoft had a net margin of 33.05% and a return on equity of 39.87%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.48 earnings per share. Analysts expect that Microsoft Co. will post 9.31 EPS for the current fiscal year.

Microsoft Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Thursday, May 18th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $2.72 annualized dividend and a yield of 0.94%. Microsoft’s payout ratio is 30.22%.

Wall Street Analyst Weigh In

MSFT has been the subject of a number of analyst reports. Oppenheimer increased their target price on shares of Microsoft from $280.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, April 6th. Cowen cut their target price on shares of Microsoft from $285.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, January 19th. StockNews.com initiated coverage on Microsoft in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Credit Suisse Group set a $285.00 target price on shares of Microsoft in a report on Thursday, March 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $285.00 price objective on shares of Microsoft in a report on Friday, March 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-eight have assigned a buy rating to the company. According to data from MarketBeat, Microsoft presently has an average rating of “Moderate Buy” and a consensus price target of $297.71.

Insider Buying and Selling at Microsoft

In other news, CEO Satya Nadella sold 4,767 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CMO Christopher C. Capossela sold 1,000 shares of the company’s stock in a transaction dated 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 sale, the chief marketing officer now owns 116,362 shares of the company’s stock, valued at $31,687,699.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Satya Nadella sold 4,767 shares of the business’s stock in a transaction dated 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 owns 788,625 shares in the company, 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 over the last 90 days. Insiders own 0.03% of the company’s stock.

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.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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