IronBridge Private Wealth LLC Makes New Investment in Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Jun 30th, 2023

IronBridge Private Wealth LLC purchased a new position in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,199 shares of the software giant’s stock, valued at approximately $2,075,000. Microsoft makes up approximately 1.3% of IronBridge Private Wealth LLC’s holdings, making the stock its 20th largest holding.

A number of other institutional investors have also recently bought and sold shares of the business. Henrickson Nauta Wealth Advisors Inc. boosted its stake in Microsoft by 1.3% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 2,898 shares of the software giant’s stock worth $835,000 after buying an additional 36 shares in the last quarter. Sentinel Pension Advisors Inc. lifted its holdings in shares of Microsoft by 1.1% during the fourth quarter. Sentinel Pension Advisors Inc. now owns 3,746 shares of the software giant’s stock valued at $898,000 after acquiring an additional 39 shares during the period. Modus Advisors LLC lifted its holdings in shares of Microsoft by 0.3% during the first quarter. Modus Advisors LLC now owns 14,316 shares of the software giant’s stock valued at $4,127,000 after acquiring an additional 40 shares during the period. Providence First Trust Co lifted its holdings in shares of Microsoft by 2.5% during the fourth quarter. Providence First Trust Co now owns 1,645 shares of the software giant’s stock valued at $395,000 after acquiring an additional 40 shares during the period. Finally, Denver Wealth Management Inc. lifted its holdings in shares of Microsoft by 3.1% during the fourth quarter. Denver Wealth Management Inc. now owns 1,348 shares of the software giant’s stock valued at $323,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity

In other news, EVP Judson Althoff sold 30,000 shares of the 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 completion of the sale, the executive vice president now owns 117,456 shares of the company’s stock, valued at approximately $35,952,107.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Microsoft news, CMO Christopher C. Capossela sold 5,000 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $310.05, for a total transaction of $1,550,250.00. Following the completion of the sale, the chief marketing officer now owns 110,206 shares of the company’s stock, valued at approximately $34,169,370.30. The sale was disclosed in a legal filing 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 on 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 directly owns 117,456 shares of the company’s stock, valued at approximately $35,952,107.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,331 shares of company stock valued at $15,867,278. 0.03% of the stock is owned by insiders.

Analysts Set New Price Targets

MSFT has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on Microsoft from $337.00 to $400.00 in a report on Friday, June 2nd. Jefferies Financial Group lifted their price objective on Microsoft from $325.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Atlantic Securities lifted their price target on Microsoft from $290.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Rosenblatt Securities lifted their price target on Microsoft from $275.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Finally, Wells Fargo & Company lifted their price target on Microsoft from $365.00 to $380.00 in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $333.18.

Microsoft Trading Down 0.2 %

NASDAQ:MSFT opened at $335.05 on Friday. The company has a market cap of $2.49 trillion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 2.92 and a beta of 0.93. The company has a quick ratio of 1.88, a current ratio of 1.91 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 $351.47. The business has a 50 day moving average price of $320.64 and a two-hundred day moving average price of $279.62.

Microsoft (NASDAQ:MSFT – Free Report) last released its quarterly earnings data on Tuesday, April 25th. The software giant reported $2.45 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 the consensus estimate of $51.01 billion. Microsoft had a return on equity of 38.98% and a net margin of 33.25%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.22 EPS. As a group, analysts expect that Microsoft Co. will post 9.64 EPS for the current fiscal year.

Microsoft Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 17th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Wednesday, August 16th. Microsoft’s payout ratio is presently 29.47%.

Microsoft Company Profile

(Free Report)

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.