Geneos Wealth Management Inc. decreased its position in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 8.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 75,883 shares of the software giant’s stock after selling 6,861 shares during the period. Microsoft accounts for approximately 1.3% of Geneos Wealth Management Inc.’s portfolio, making the stock its 7th largest holding. Geneos Wealth Management Inc.’s holdings in Microsoft were worth $21,877,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Monumental Financial Group Inc. bought a new position in Microsoft during the 1st quarter valued at $28,000. Iron Horse Wealth Management LLC acquired a new stake in shares of Microsoft in the 4th quarter worth about $26,000. Retirement Financial Solutions LLC acquired a new position in Microsoft during the 4th quarter valued at about $40,000. Gleason Group Inc. boosted its position in shares of Microsoft by 111.7% during the 1st quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock valued at $57,000 after purchasing an additional 105 shares in the last quarter. Finally, PayPay Securities Corp bought a new position in shares of Microsoft during the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 72.20% of the company’s stock.
Insider Buying and Selling
In other news, Director Teri List sold 1,250 shares of the company’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 value of $418,462.50. Following the completion of the sale, the director now directly owns 874 shares in the company, valued at $292,588.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Microsoft news, Director Teri List sold 1,250 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Judson Althoff sold 30,000 shares of the 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 completion of the sale, the executive vice president now owns 117,456 shares in the company, valued at $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 company insiders.
Microsoft Price Performance
Microsoft (NASDAQ:MSFT – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The software giant reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.14. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The business had revenue of $56.19 billion for the quarter, compared to the consensus estimate of $55.49 billion. During the same period last year, the business posted $2.23 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts predict that Microsoft Co. will post 10.8 earnings per share for the current year.
Microsoft Announces Dividend
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. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.72 annualized dividend and a dividend yield of 0.80%. Microsoft’s dividend payout ratio (DPR) is presently 28.07%.
Analysts Set New Price Targets
Several brokerages have commented on MSFT. Credit Suisse Group raised their target price on shares of Microsoft from $350.00 to $420.00 in a report on Wednesday, May 31st. DA Davidson raised their price objective on shares of Microsoft from $350.00 to $415.00 in a research report on Friday, July 21st. Morgan Stanley lifted their price target on shares of Microsoft from $335.00 to $415.00 in a research report on Thursday, July 6th. Royal Bank of Canada lifted their price target on shares of Microsoft from $350.00 to $390.00 in a research report on Wednesday. Finally, Oppenheimer boosted their target price on shares of Microsoft from $330.00 to $410.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirty have assigned a buy rating to the company. According to data from MarketBeat.com, Microsoft has a consensus rating of “Moderate Buy” and a consensus price target of $368.37.
Microsoft 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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