Keystone Financial Planning Inc. boosted its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,034 shares of the software giant’s stock after purchasing an additional 346 shares during the quarter. Microsoft makes up 3.3% of Keystone Financial Planning Inc.’s holdings, making the stock its 2nd largest position. Keystone Financial Planning Inc.’s holdings in Microsoft were worth $9,887,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of MSFT. Monumental Financial Group Inc. purchased a new position in shares of Microsoft in the first quarter valued at approximately $28,000. Gleason Group Inc. lifted its position in shares of Microsoft by 111.7% in the first quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock valued at $57,000 after acquiring an additional 105 shares in the last quarter. Syverson Strege & Co lifted its position in shares of Microsoft by 157.0% in the first quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock valued at $58,000 after acquiring an additional 124 shares in the last quarter. MayTech Global Investments LLC purchased a new position in shares of Microsoft in the fourth quarter valued at approximately $83,000. Finally, Beutel Goodman & Co Ltd. lifted its position in shares of Microsoft by 57.5% in the third quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock valued at $95,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.
Microsoft Stock Down 0.8 %
Microsoft stock opened at $317.01 on Friday. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $366.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.77. The company has a market capitalization of $2.36 trillion, a P/E ratio of 32.72, a PEG ratio of 2.36 and a beta of 0.90. The stock has a 50-day simple moving average of $331.18 and a 200-day simple moving average of $315.11.
Microsoft Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, November 15th. This is a boost from Microsoft’s previous quarterly dividend of $0.68. Microsoft’s payout ratio is 28.07%.
Insider Activity at Microsoft
In related news, insider Bradford L. Smith sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $337.20, for a total value of $16,860,000.00. Following the transaction, the insider now owns 588,084 shares in the company, valued at approximately $198,301,924.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Microsoft news, insider Bradford L. Smith sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the transaction, the insider now owns 588,084 shares in the company, valued at approximately $198,301,924.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Satya Nadella sold 38,234 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $328.43, for a total value of $12,557,192.62. Following the transaction, the chief executive officer now owns 800,668 shares in the company, valued at approximately $262,963,391.24. The disclosure for this sale can be found here. Insiders have sold 115,049 shares of company stock worth $38,195,619 in the last quarter. Company insiders own 0.03% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently commented on MSFT. Fundamental Research set a $298.10 price objective on Microsoft and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Redburn Partners reduced their price objective on Microsoft from $450.00 to $440.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. Evercore ISI lifted their price objective on Microsoft from $337.00 to $400.00 in a research report on Friday, June 2nd. Mizuho lifted their price objective on Microsoft from $360.00 to $390.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $385.00 price objective on shares of Microsoft in a research report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $375.03.
Read Our Latest Report on MSFT
About Microsoft
Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.
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