Buckley Wealth Management LLC Buys 1,352 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Sep 24th, 2023

Buckley Wealth Management LLC grew its stake in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 1.8% during the second quarter, HoldingsChannel reports. The firm owned 77,740 shares of the software giant’s stock after buying an additional 1,352 shares during the period. Microsoft accounts for 9.0% of Buckley Wealth Management LLC’s portfolio, making the stock its 2nd largest position. Buckley Wealth Management LLC’s holdings in Microsoft were worth $26,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Monumental Financial Group Inc. acquired a new position in shares of Microsoft during the first quarter worth about $28,000. Gleason Group Inc. lifted its stake in shares of Microsoft by 111.7% in the first quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock worth $57,000 after acquiring an additional 105 shares in the last quarter. Syverson Strege & Co lifted its stake in shares of Microsoft by 157.0% in the first quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock worth $58,000 after acquiring an additional 124 shares in the last quarter. Alapocas Investment Partners Inc. acquired a new position in shares of Microsoft in the first quarter worth about $97,000. Finally, MayTech Global Investments LLC acquired a new position in shares of Microsoft in the fourth quarter worth about $83,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

Microsoft Price Performance

Shares of NASDAQ:MSFT opened at $317.01 on Friday. Microsoft Co. has a one year low of $213.43 and a one year high of $366.78. The stock has a fifty day moving average of $330.61 and a 200-day moving average of $315.53. The company has a market capitalization of $2.36 trillion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.77.

Microsoft (NASDAQ:MSFT – Get Free Report) last announced its earnings results on Tuesday, July 25th. The software giant reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.14. Microsoft had a net margin of 34.15% and a return on equity of 38.70%. The company had revenue of $56.19 billion for the quarter, compared to the consensus estimate of $55.49 billion. During the same period in the previous year, the business earned $2.23 EPS. The company’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts anticipate that Microsoft Co. will post 10.9 EPS for the current fiscal year.

Microsoft Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.75 per share. This is an increase from Microsoft’s previous quarterly dividend of $0.68. This represents a $3.00 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, November 15th. Microsoft’s payout ratio is 28.07%.

Insider Transactions at Microsoft

In other news, EVP Kathleen T. Hogan sold 26,815 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $327.37, for a total value of $8,778,426.55. Following the transaction, the executive vice president now directly owns 198,373 shares of the company’s stock, valued at $64,941,369.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Microsoft news, insider Bradford L. Smith sold 50,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the transaction, the insider now directly owns 588,084 shares of the company’s stock, valued at $198,301,924.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathleen T. Hogan sold 26,815 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $327.37, for a total transaction of $8,778,426.55. Following the transaction, the executive vice president now directly owns 198,373 shares in the company, valued at $64,941,369.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,049 shares of company stock valued at $38,195,619. 0.03% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on MSFT. Raymond James boosted their price objective on Microsoft from $320.00 to $400.00 and gave the company an “outperform” rating in a report on Monday, July 24th. TD Cowen boosted their price objective on Microsoft from $330.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, July 19th. Citigroup reaffirmed a “buy” rating and set a $420.00 target price on shares of Microsoft in a report on Friday. DA Davidson upped their target price on Microsoft from $350.00 to $415.00 in a report on Friday, July 21st. Finally, The Goldman Sachs Group upped their target price on Microsoft from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, July 21st. One equities 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 stock. Based on data from MarketBeat, Microsoft currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.03.

View Our Latest Report on MSFT

Microsoft Profile

(Free Report)

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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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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