REDW Wealth LLC Has $3.10 Million Position in Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Jun 11th, 2023

REDW Wealth LLC cut its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,906 shares of the software giant’s stock after selling 358 shares during the quarter. Microsoft makes up approximately 1.1% of REDW Wealth LLC’s portfolio, making the stock its 23rd biggest position. REDW Wealth LLC’s holdings in Microsoft were worth $3,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC acquired a new position in shares of Microsoft in the 4th quarter valued at about $26,000. Monumental Financial Group Inc. acquired a new position in shares of Microsoft in the 1st quarter valued at about $28,000. Hanseatic Management Services Inc. lifted its stake 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 valued at $31,000 after purchasing an additional 55 shares during the period. Retirement Financial Solutions LLC acquired a new position in shares of Microsoft in the 4th quarter valued at about $40,000. Finally, PayPay Securities Corp acquired a new position in shares of Microsoft in the 4th quarter valued at about $54,000. 69.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Microsoft from $305.00 to $315.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Wedbush boosted their target price on Microsoft from $340.00 to $375.00 in a research report on Tuesday, May 30th. Barclays boosted their target price on Microsoft from $310.00 to $336.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Fundamental Research lowered Microsoft from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, UBS Group boosted their target price on Microsoft from $275.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $331.74.

Microsoft Price Performance

NASDAQ:MSFT opened at $326.79 on Friday. The firm has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 35.41, a P/E/G ratio of 2.89 and a beta of 0.93. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $338.56. The stock has a fifty day moving average of $306.82 and a 200 day moving average of $271.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.88 and a current ratio of 1.91.

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

Microsoft Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 8th. Investors of record on Thursday, May 18th were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Wednesday, May 17th. Microsoft’s dividend payout ratio is 29.47%.

Insider Buying and Selling at Microsoft

In other Microsoft news, Director Teri List sold 1,250 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $334.77, for a total transaction of $418,462.50. Following the sale, the director now owns 874 shares in the company, valued at $292,588.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Microsoft news, Director Teri List sold 1,250 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $334.77, for a total transaction of $418,462.50. Following the sale, the director now owns 874 shares in the company, valued at $292,588.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Judson Althoff sold 30,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were 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 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 51,331 shares of company stock worth $15,867,278 over the last 90 days. Corporate 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.