Omega Financial Group LLC lessened its stake in Microsoft Co. (NASDAQ:MSFT – Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,277 shares of the software giant’s stock after selling 39 shares during the quarter. Omega Financial Group LLC’s holdings in Microsoft were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of the stock. Pacific Sun Financial Corp purchased a new position in shares of Microsoft in the 2nd quarter worth about $681,000. WJ Wealth Management LLC increased its position in shares of Microsoft by 375.0% during the second quarter. WJ Wealth Management LLC now owns 10,910 shares of the software giant’s stock valued at $3,715,000 after acquiring an additional 8,613 shares in the last quarter. Occidental Asset Management LLC increased its position in shares of Microsoft by 3.0% during the second quarter. Occidental Asset Management LLC now owns 28,792 shares of the software giant’s stock valued at $9,805,000 after acquiring an additional 846 shares in the last quarter. Etfidea LLC boosted its position in shares of Microsoft by 9.1% during the second quarter. Etfidea LLC now owns 2,356 shares of the software giant’s stock valued at $802,000 after buying an additional 196 shares during the last quarter. Finally, Juncture Wealth Strategies LLC lifted its stake in Microsoft by 1.4% during the 2nd quarter. Juncture Wealth Strategies LLC now owns 2,653 shares of the software giant’s stock valued at $903,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.
Insider Activity
In other news, insider Bradford L. Smith sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 588,084 shares in the company, valued at approximately $198,301,924.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Kathleen T. Hogan sold 26,815 shares of the business’s stock in a transaction that occurred 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 owns 198,373 shares of the company’s stock, valued at approximately $64,941,369.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bradford L. Smith sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total value of $16,860,000.00. Following the transaction, the insider now directly owns 588,084 shares in the company, valued at approximately $198,301,924.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,049 shares of company stock worth $38,195,619. 0.03% of the stock is currently owned by corporate insiders.
Microsoft Trading Down 0.8 %
Microsoft (NASDAQ:MSFT – Get Free Report) last posted its earnings results on Tuesday, July 25th. The software giant reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.14. The firm had revenue of $56.19 billion during the quarter, compared to the consensus estimate of $55.49 billion. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.23 EPS. Equities research analysts anticipate that Microsoft Co. will post 10.9 EPS for the current fiscal year.
Microsoft Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.95%. This is a boost from Microsoft’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, November 15th. Microsoft’s dividend payout ratio is currently 28.07%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. Guggenheim reiterated a “sell” rating and issued a $232.00 price target on shares of Microsoft in a research note on Thursday, July 20th. Morgan Stanley lifted their target price on shares of Microsoft from $335.00 to $415.00 in a research report on Thursday, July 6th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $385.00 target price on shares of Microsoft in a research report on Friday. Rosenblatt Securities lifted their target price on shares of Microsoft from $310.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, BMO Capital Markets raised their target price on Microsoft from $385.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.03.
Get Our Latest Stock Report on MSFT
Microsoft Company Profile
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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