Perfromance Wealth Partners LLC Reduces Position in Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Jul 19th, 2023

Perfromance Wealth Partners LLC decreased its holdings in Microsoft Co. (NASDAQ:MSFT – Free Report) by 0.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 418,398 shares of the software giant’s stock after selling 2,433 shares during the quarter. Microsoft accounts for approximately 6.2% of Perfromance Wealth Partners LLC’s investment portfolio, making the stock its 3rd biggest holding. Perfromance Wealth Partners LLC’s holdings in Microsoft were worth $120,624,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Affiance Financial LLC raised its holdings in Microsoft by 0.3% in the 1st quarter. Affiance Financial LLC now owns 10,362 shares of the software giant’s stock worth $2,988,000 after acquiring an additional 35 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. raised its holdings in Microsoft by 1.3% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 2,898 shares of the software giant’s stock worth $835,000 after acquiring an additional 36 shares during the last quarter. Sentinel Pension Advisors Inc. raised its holdings in Microsoft by 1.1% in the 4th quarter. Sentinel Pension Advisors Inc. now owns 3,746 shares of the software giant’s stock worth $898,000 after acquiring an additional 39 shares during the last quarter. Providence First Trust Co grew its position in Microsoft by 2.5% in the 4th quarter. Providence First Trust Co now owns 1,645 shares of the software giant’s stock worth $395,000 after purchasing an additional 40 shares during the period. Finally, Modus Advisors LLC grew its position in Microsoft by 0.3% in the 1st quarter. Modus Advisors LLC now owns 14,316 shares of the software giant’s stock worth $4,127,000 after purchasing an additional 40 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

MSFT has been the subject of a number of research analyst reports. Macquarie raised shares of Microsoft from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $260.00 to $325.00 in a research report on Wednesday, April 26th. StockNews.com initiated coverage on shares of Microsoft in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Mizuho lifted their target price on shares of Microsoft from $360.00 to $390.00 and gave the stock a “buy” rating in a research report on Monday. Atlantic Securities lifted their target price on shares of Microsoft from $290.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 26th. Finally, Moffett Nathanson boosted their price objective on shares of Microsoft from $263.00 to $306.00 and gave the company a “market perform” rating in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirty-two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $343.04.

Insiders Place Their Bets

In other Microsoft news, Director Teri List sold 1,250 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were 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 of the company’s stock, valued at $292,588.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Judson Althoff sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $306.09, for a total transaction of $9,182,700.00. Following the transaction, the executive vice president now directly owns 117,456 shares of the company’s stock, valued at $35,952,107.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Teri List sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $334.77, for a total transaction of $418,462.50. Following the transaction, the director now directly owns 874 shares in the company, valued at $292,588.98. The disclosure for this sale can be found here. Insiders sold a total of 51,331 shares of company stock valued at $15,867,278 over the last 90 days. Insiders own 0.03% of the company’s stock.

Microsoft Stock Up 4.0 %

Shares of NASDAQ:MSFT opened at $359.49 on Wednesday. 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 company has a market cap of $2.67 trillion, a price-to-earnings ratio of 38.95, a PEG ratio of 2.75 and a beta of 0.92. Microsoft Co. has a 12 month low of $213.43 and a 12 month high of $366.78. The company has a 50-day moving average price of $331.25 and a 200 day moving average price of $289.00.

Microsoft (NASDAQ:MSFT – Get Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The software giant reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.23. The business had revenue of $52.86 billion during the quarter, compared to the consensus estimate of $51.01 billion. Microsoft had a net margin of 33.25% and a return on equity of 38.98%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.22 earnings per share. As a group, equities research analysts predict that Microsoft Co. will post 9.66 earnings per share for the current year.

Microsoft Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Wednesday, August 16th. Microsoft’s payout ratio is currently 29.47%.

Microsoft 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.