Brogan Financial Inc. Buys Shares of 2,744 Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Jun 14th, 2023

Brogan Financial Inc. bought a new stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,744 shares of the software giant’s stock, valued at approximately $658,000. Microsoft accounts for approximately 0.6% of Brogan Financial Inc.’s holdings, making the stock its 13th largest position.

Several other hedge funds also recently made changes to their positions in MSFT. Iron Horse Wealth Management LLC acquired a new position in shares of Microsoft in the 4th quarter worth approximately $26,000. Monumental Financial Group Inc. purchased a new position in shares of Microsoft in the first quarter worth approximately $28,000. Hanseatic Management Services Inc. increased its position in shares of Microsoft by 71.4% in the third quarter. Hanseatic Management Services Inc. now owns 132 shares of the software giant’s stock worth $31,000 after acquiring an additional 55 shares in the last quarter. Retirement Financial Solutions LLC purchased a new position in shares of Microsoft in the fourth quarter worth approximately $40,000. Finally, PayPay Securities Corp purchased a new position in shares of Microsoft in the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 69.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MSFT. Jefferies Financial Group lifted their target price on shares of Microsoft from $325.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. BMO Capital Markets raised their price target on shares of Microsoft from $347.00 to $385.00 in a report on Friday, June 9th. Bank of America boosted their price objective on shares of Microsoft from $320.00 to $340.00 in a research report on Wednesday, April 26th. Macquarie upgraded shares of Microsoft from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $260.00 to $325.00 in a research report on Wednesday, April 26th. Finally, KeyCorp boosted their price target on shares of Microsoft from $316.00 to $335.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $331.74.

Microsoft Stock Up 0.7 %

MSFT stock opened at $334.29 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.91 and a quick ratio of 1.88. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $338.56. The company has a 50-day moving average of $308.65 and a two-hundred day moving average of $272.49. The stock has a market capitalization of $2.49 trillion, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 2.90 and a beta of 0.93.

Microsoft (NASDAQ:MSFT – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The software giant reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.23. Microsoft had a net margin of 33.25% and a return on equity of 38.98%. The company had revenue of $52.86 billion during the quarter, compared to analysts’ expectations of $51.01 billion. During the same period in the prior year, the company earned $2.22 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Microsoft Co. will post 9.65 EPS for the current year.

Microsoft Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Wednesday, August 16th. Microsoft’s dividend payout ratio (DPR) is 29.47%.

Insider Buying and Selling at Microsoft

In other news, Director Teri List sold 1,250 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $334.77, for a total transaction of $418,462.50. Following the completion of the transaction, the director now owns 874 shares of the company’s stock, valued at $292,588.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Teri List sold 1,250 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $334.77, for a total transaction of $418,462.50. Following the completion of the transaction, the director now owns 874 shares of the company’s stock, valued at $292,588.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Christopher C. Capossela sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $316.87, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 51,331 shares of company stock worth $15,867,278 over the last ninety days. Company insiders own 0.03% of the company’s stock.

Microsoft Profile

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Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.