Microsoft Co. (NASDAQ:MSFT) is Fort Pitt Capital Group LLC’s 3rd Largest Position

Posted by Defense World Staff on May 27th, 2023

Fort Pitt Capital Group LLC lowered its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 341,431 shares of the software giant’s stock after selling 611 shares during the period. Microsoft comprises 3.3% of Fort Pitt Capital Group LLC’s investment portfolio, making the stock its 3rd biggest position. Fort Pitt Capital Group LLC’s holdings in Microsoft were worth $81,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. DGS Capital Management LLC grew its stake in Microsoft by 19.9% during the 1st quarter. DGS Capital Management LLC now owns 14,342 shares of the software giant’s stock valued at $4,422,000 after acquiring an additional 2,383 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Microsoft by 20.8% during the 1st quarter. IFM Investors Pty Ltd now owns 1,138,469 shares of the software giant’s stock valued at $351,001,000 after acquiring an additional 196,338 shares in the last quarter. Altus Wealth Group LLC grew its stake in Microsoft by 1.2% during the 1st quarter. Altus Wealth Group LLC now owns 12,712 shares of the software giant’s stock valued at $3,919,000 after acquiring an additional 152 shares in the last quarter. Powell Investment Advisors LLC boosted its holdings in Microsoft by 16.2% in the 1st quarter. Powell Investment Advisors LLC now owns 2,578 shares of the software giant’s stock valued at $795,000 after purchasing an additional 359 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC boosted its holdings in Microsoft by 8.2% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 6,782 shares of the software giant’s stock valued at $1,921,000 after purchasing an additional 512 shares during the last quarter. Hedge funds and other institutional investors own 69.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MSFT shares. Atlantic Securities boosted their target price on shares of Microsoft from $290.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. UBS Group boosted their target price on shares of Microsoft from $275.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, April 26th. Oppenheimer boosted their target price on shares of Microsoft from $310.00 to $330.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. The Goldman Sachs Group boosted their target price on shares of Microsoft from $325.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Microsoft from $305.00 to $315.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirty-two have given a buy rating to the stock. According to data from MarketBeat, Microsoft presently has an average rating of “Moderate Buy” and an average target price of $323.69.

Microsoft Trading Up 2.1 %

Shares of NASDAQ:MSFT opened at $332.89 on Friday. Microsoft Co. has a 52 week low of $213.43 and a 52 week high of $333.40. The company’s 50 day moving average is $296.33 and its two-hundred day moving average is $264.61. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.48 trillion, a PE ratio of 36.07, a P/E/G ratio of 2.79 and a beta of 0.93.

Microsoft (NASDAQ:MSFT – Get Rating) last posted its earnings results on Tuesday, April 25th. The software giant reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.23. The firm had revenue of $52.86 billion for the quarter, compared to the consensus estimate of $51.01 billion. Microsoft had a net margin of 33.25% and a return on equity of 38.98%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $2.22 EPS. Equities analysts predict that Microsoft Co. will post 9.66 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 18th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Wednesday, May 17th. Microsoft’s dividend payout ratio (DPR) is 29.47%.

Insider Activity at Microsoft

In related news, CMO Christopher C. Capossela sold 5,000 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $316.87, for a total value of $1,584,350.00. Following the transaction, the chief marketing officer now directly owns 89,328 shares of the company’s stock, valued at approximately $28,305,363.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CMO Christopher C. Capossela sold 5,081 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $312.54, for a total transaction of $1,588,015.74. Following the completion of the sale, the chief marketing officer now owns 94,328 shares in the company, valued at approximately $29,481,273.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Christopher C. Capossela sold 5,000 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $316.87, for a total transaction of $1,584,350.00. Following the sale, the chief marketing officer now owns 89,328 shares of the company’s stock, valued at approximately $28,305,363.36. The disclosure for this sale can be found here. Insiders have sold 54,848 shares of company stock valued at $16,635,227 in the last ninety 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.