Microsoft Co. (NASDAQ:MSFT) is Everhart Financial Group Inc.’s 6th Largest Position

Posted by Defense World Staff on Sep 29th, 2023

Everhart Financial Group Inc. boosted its position in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,081 shares of the software giant’s stock after purchasing an additional 1,216 shares during the period. Microsoft makes up 3.5% of Everhart Financial Group Inc.’s holdings, making the stock its 6th biggest holding. Everhart Financial Group Inc.’s holdings in Microsoft were worth $8,541,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Consilium Wealth Advisory LLC increased its holdings in shares of Microsoft by 18.3% during the 2nd quarter. Consilium Wealth Advisory LLC now owns 12,815 shares of the software giant’s stock worth $4,364,000 after buying an additional 1,986 shares during the last quarter. Tilia Fiduciary Partners Inc. grew its position in Microsoft by 2.6% in the second quarter. Tilia Fiduciary Partners Inc. now owns 11,059 shares of the software giant’s stock worth $3,766,000 after acquiring an additional 275 shares during the period. Aletheian Wealth Advisors LLC increased its stake in Microsoft by 17.8% during the second quarter. Aletheian Wealth Advisors LLC now owns 10,280 shares of the software giant’s stock worth $3,501,000 after acquiring an additional 1,553 shares during the last quarter. Davis Rea LTD. raised its position in Microsoft by 9.7% in the second quarter. Davis Rea LTD. now owns 24,457 shares of the software giant’s stock valued at $8,329,000 after purchasing an additional 2,162 shares during the period. Finally, TCP Asset Management LLC acquired a new position in shares of Microsoft in the 2nd quarter valued at $221,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Price Performance

Shares of NASDAQ:MSFT opened at $313.64 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 1.75. Microsoft Co. has a 12 month low of $213.43 and a 12 month high of $366.78. The firm has a market capitalization of $2.33 trillion, a P/E ratio of 32.37, a P/E/G ratio of 2.30 and a beta of 0.90. The company’s fifty day moving average price is $327.59 and its 200 day moving average price is $317.25.

Microsoft (NASDAQ:MSFT – Get Free Report) last posted its earnings results on Tuesday, July 25th. The software giant reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.14. The business 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 business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.23 EPS. As a group, sell-side analysts predict that Microsoft Co. will post 10.9 earnings per share 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. The ex-dividend date of this dividend is Wednesday, November 15th. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.96%. Microsoft’s dividend payout ratio (DPR) is 28.07%.

Insider Activity

In related news, EVP Kathleen T. Hogan sold 26,815 shares of the stock in a transaction on Friday, September 1st. The shares were 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 owns 198,373 shares in the company, valued at approximately $64,941,369.01. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Microsoft news, CEO Satya Nadella sold 38,234 shares of the company’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 transaction of $12,557,192.62. Following the completion of the sale, the chief executive officer now directly owns 800,668 shares of the company’s stock, valued at approximately $262,963,391.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kathleen T. Hogan sold 26,815 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $327.37, for a total value of $8,778,426.55. Following the sale, the executive vice president now directly owns 198,373 shares of the company’s stock, valued at $64,941,369.01. The disclosure for this sale can be found here. Insiders have sold 115,049 shares of company stock valued at $38,195,619 in the last ninety days. 0.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MSFT has been the topic of several research analyst reports. Evercore ISI boosted their price objective on shares of Microsoft from $337.00 to $400.00 in a report on Friday, June 2nd. Mizuho boosted their price target on shares of Microsoft from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Monday, July 17th. BMO Capital Markets increased their price objective on shares of Microsoft from $385.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Barclays boosted their target price on Microsoft from $336.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, July 19th. Finally, Rosenblatt Securities raised their price target on Microsoft from $310.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Five investment analysts have rated the stock with a hold rating and thirty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $375.03.

View Our Latest Research Report on Microsoft

Microsoft Company 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.