Pasadena Private Wealth LLC cut its stake in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 4,021 shares of the software giant’s stock after selling 98 shares during the quarter. Microsoft makes up approximately 0.4% of Pasadena Private Wealth LLC’s portfolio, making the stock its 26th largest holding. Pasadena Private Wealth LLC’s holdings in Microsoft were worth $1,369,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Strategic Investment Solutions Inc. IL raised its position in shares of Microsoft by 0.8% during the first quarter. Strategic Investment Solutions Inc. IL now owns 4,208 shares of the software giant’s stock valued at $1,213,000 after buying an additional 32 shares during the last quarter. Arbor Capital Management Inc. ADV grew its holdings in shares of Microsoft by 0.5% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 7,166 shares of the software giant’s stock worth $2,074,000 after purchasing an additional 33 shares in the last quarter. Affiance Financial LLC grew its holdings in shares of Microsoft by 0.3% during the 1st quarter. Affiance Financial LLC now owns 10,362 shares of the software giant’s stock worth $2,988,000 after purchasing an additional 35 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its position in shares of Microsoft by 1.3% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 2,898 shares of the software giant’s stock valued at $835,000 after acquiring an additional 36 shares in the last quarter. Finally, Forbes Financial Planning Inc. boosted its position in shares of Microsoft by 2.0% during the 1st quarter. Forbes Financial Planning Inc. now owns 1,845 shares of the software giant’s stock valued at $532,000 after acquiring an additional 36 shares in the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Microsoft
In other news, insider Bradford L. Smith sold 50,000 shares of the company’s stock in a transaction dated 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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Bradford L. Smith sold 50,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 588,084 shares of the company’s stock, valued at $198,301,924.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kathleen T. Hogan sold 26,815 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 198,373 shares in the company, valued at approximately $64,941,369.01. The disclosure for this sale can be found here. Insiders sold 115,049 shares of company stock valued at $38,195,619 over the last three months. Company insiders own 0.03% of the company’s stock.
Microsoft Trading Down 0.8 %
Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The software giant reported $2.69 EPS for the quarter, topping 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 company had revenue of $56.19 billion for the quarter, compared to analyst estimates of $55.49 billion. During the same quarter last year, the firm posted $2.23 earnings per share. Microsoft’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Microsoft Co. will post 10.9 EPS for the current year.
Microsoft Increases Dividend
The company also recently disclosed 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 is a boost from Microsoft’s previous quarterly dividend of $0.68. This represents a $3.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, November 15th. Microsoft’s dividend payout ratio is currently 28.07%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on MSFT shares. StockNews.com began coverage on Microsoft in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Mizuho upped their target price on shares of Microsoft from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Monday, July 17th. TD Cowen lifted their price target on shares of Microsoft from $330.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, July 19th. Oppenheimer restated an “outperform” rating and issued a $410.00 price target on shares of Microsoft in a research report on Friday, July 28th. Finally, The Goldman Sachs Group boosted their price target on shares of Microsoft from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirty-four have given a buy rating to the stock. According to data from MarketBeat, Microsoft currently has an average rating of “Moderate Buy” and a consensus price target of $375.03.
Check Out Our Latest Research 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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