New England Professional Planning Group Inc. trimmed its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 892 shares of the software giant’s stock after selling 125 shares during the quarter. Microsoft accounts for approximately 0.2% of New England Professional Planning Group Inc.’s holdings, making the stock its 26th biggest holding. New England Professional Planning Group Inc.’s holdings in Microsoft were worth $253,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC purchased a new stake in Microsoft in the 4th quarter worth about $26,000. Monumental Financial Group Inc. purchased a new stake in Microsoft in the 1st quarter worth about $28,000. Retirement Financial Solutions LLC purchased a new stake in Microsoft in the 4th quarter worth about $40,000. PayPay Securities Corp purchased a new stake in Microsoft in the 4th quarter worth about $54,000. Finally, Gleason Group Inc. raised its position in Microsoft by 111.7% in the 1st quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock worth $57,000 after purchasing an additional 105 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.
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 stock was sold at an average price of $334.77, for a total value of $418,462.50. Following the sale, the director now owns 874 shares in the company, 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, CMO Christopher C. Capossela sold 5,000 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $310.05, for a total value of $1,550,250.00. Following the sale, the chief marketing officer now owns 110,206 shares in the company, valued at $34,169,370.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teri List sold 1,250 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $334.77, for a total value of $418,462.50. Following the completion of the sale, the director now owns 874 shares in the company, valued at approximately $292,588.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,331 shares of company stock worth $15,867,278. 0.03% of the stock is currently owned by insiders.
Microsoft Stock Up 0.8 %
Microsoft (NASDAQ:MSFT – Get Free Report) last posted its quarterly earnings results on Tuesday, April 25th. The software giant reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.23. The business had revenue of $52.86 billion for 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 company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.22 EPS. Equities analysts anticipate that Microsoft Co. will post 9.66 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 paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.72 annualized dividend and a yield of 0.79%. Microsoft’s payout ratio is presently 29.47%.
Analyst Ratings Changes
A number of research firms recently weighed in on MSFT. Morgan Stanley increased their price objective on shares of Microsoft from $335.00 to $415.00 in a research report on Thursday, July 6th. Sanford C. Bernstein increased their price objective on Microsoft from $280.00 to $322.00 in a research note on Monday, April 24th. Wedbush lifted their target price on Microsoft from $340.00 to $375.00 in a research report on Tuesday, May 30th. Raymond James lifted their target price on Microsoft from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, Evercore ISI lifted their target price on Microsoft from $337.00 to $400.00 in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $340.40.
Microsoft Company Profile
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.
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