Pitcairn Co. lessened its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 83,327 shares of the software giant’s stock after selling 1,543 shares during the quarter. Microsoft makes up about 2.0% of Pitcairn Co.’s investment portfolio, making the stock its 7th biggest position. Pitcairn Co.’s holdings in Microsoft were worth $19,983,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in MSFT. Iron Horse Wealth Management LLC purchased a new position in shares of Microsoft in the 4th quarter worth $26,000. Monumental Financial Group Inc. purchased a new position in shares of Microsoft in the 1st quarter worth $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 buying an additional 55 shares during the period. Retirement Financial Solutions LLC purchased a new position in shares of Microsoft in the 4th quarter worth $40,000. Finally, PayPay Securities Corp purchased a new position in shares of Microsoft in the 4th quarter worth $54,000. 69.15% of the stock is currently owned by institutional investors and hedge funds.
Microsoft Stock Performance
MSFT opened at $326.79 on Friday. The business’s 50 day moving average is $306.82 and its 200-day moving average is $271.12. The stock has a market cap of $2.43 trillion, a PE ratio of 35.41, a price-to-earnings-growth ratio of 2.89 and a beta of 0.93. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.22. Microsoft Co. has a twelve month low of $213.43 and a twelve month high of $338.56.
Microsoft Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 8th. Investors of record on Thursday, May 18th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $2.72 annualized dividend and a yield of 0.83%. Microsoft’s payout ratio is 29.47%.
Wall Street Analysts Forecast Growth
Several research firms have commented on MSFT. Credit Suisse Group raised their price objective on Microsoft from $350.00 to $420.00 in a research report on Wednesday, May 31st. The Goldman Sachs Group raised their price objective on Microsoft from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Mizuho raised their price objective on Microsoft from $325.00 to $340.00 in a research report on Wednesday, May 24th. Rosenblatt Securities raised their price objective on Microsoft from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Finally, Wells Fargo & Company raised their price objective on Microsoft from $320.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirty-two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $331.74.
Insider Buying and Selling
In related news, EVP Judson Althoff sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $306.09, for a total transaction of $9,182,700.00. Following the sale, the executive vice president now owns 117,456 shares of the company’s stock, valued at $35,952,107.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CMO Christopher C. Capossela sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $308.70, for a total transaction of $1,543,500.00. Following the sale, the chief marketing officer now owns 105,206 shares of the company’s stock, valued at $32,477,092.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Judson Althoff sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $306.09, for a total value of $9,182,700.00. Following the sale, the executive vice president now directly owns 117,456 shares in the company, valued at approximately $35,952,107.04. The disclosure for this sale can be found here. Insiders have sold a total of 51,331 shares of company stock valued at $15,867,278 over the last quarter. Corporate insiders own 0.03% of the company’s stock.
Microsoft Company 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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