Secure Asset Management LLC Acquires 348 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Jul 3rd, 2023

Secure Asset Management LLC raised its holdings in Microsoft Co. (NASDAQ:MSFT – Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,001 shares of the software giant’s stock after buying an additional 348 shares during the period. Microsoft accounts for about 1.7% of Secure Asset Management LLC’s portfolio, making the stock its 6th largest holding. Secure Asset Management LLC’s holdings in Microsoft were worth $5,190,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MSFT. Iron Horse Wealth Management LLC acquired a new position in shares of Microsoft during the 4th quarter worth about $26,000. Monumental Financial Group Inc. acquired a new position in shares of Microsoft during the 1st quarter worth about $28,000. Retirement Financial Solutions LLC acquired a new position in shares of Microsoft during the 4th quarter worth about $40,000. PayPay Securities Corp acquired a new position in shares of Microsoft during the 4th quarter worth about $54,000. Finally, Macroview Investment Management LLC acquired a new position in shares of Microsoft during the 4th quarter worth about $61,000. Institutional investors own 72.20% of the company’s stock.

Microsoft Trading Up 1.6 %

NASDAQ:MSFT opened at $340.54 on Monday. 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 stock has a market capitalization of $2.53 trillion, a price-to-earnings ratio of 36.89, a PEG ratio of 2.98 and a beta of 0.93. The firm has a fifty day simple moving average of $321.74 and a two-hundred day simple moving average of $280.55. Microsoft Co. has a 12 month low of $213.43 and a 12 month high of $351.47.

Microsoft (NASDAQ:MSFT – Free Report) last posted its quarterly earnings results on Tuesday, April 25th. The software giant reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.23. The business had revenue of $52.86 billion during the quarter, compared to analysts’ expectations of $51.01 billion. Microsoft had a net margin of 33.25% and a return on equity of 38.98%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $2.22 earnings per share. Analysts expect that Microsoft Co. will post 9.64 EPS for the current fiscal year.

Microsoft Dividend Announcement

The business 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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Wednesday, August 16th. Microsoft’s payout ratio is 29.47%.

Insiders Place Their Bets

In other Microsoft news, Director Teri List sold 1,250 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $334.77, for a total value of $418,462.50. Following the transaction, the director now directly owns 874 shares of the company’s stock, valued at $292,588.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Microsoft news, Director Teri List sold 1,250 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $334.77, for a total value of $418,462.50. Following the transaction, the director now directly owns 874 shares of the company’s stock, valued at $292,588.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Christopher C. Capossela sold 5,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief marketing officer now directly owns 89,328 shares in the company, valued at $28,305,363.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,331 shares of company stock worth $15,867,278. 0.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on MSFT. Evercore ISI boosted their price objective on shares of Microsoft from $337.00 to $400.00 in a research note on Friday, June 2nd. Barclays upped their price target on shares of Microsoft from $310.00 to $336.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Macquarie upgraded shares of Microsoft from a “neutral” rating to an “outperform” rating and upped their price target for the company from $260.00 to $325.00 in a research note on Wednesday, April 26th. Stifel Nicolaus upped their price target on shares of Microsoft from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Finally, Citigroup upped their price target on shares of Microsoft from $332.00 to $340.00 in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $333.18.

About Microsoft

(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.