Soundmark Wealth Management LLC raised its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,099 shares of the software giant’s stock after acquiring an additional 653 shares during the period. Microsoft makes up about 6.7% of Soundmark Wealth Management LLC’s portfolio, making the stock its 2nd biggest position. Soundmark Wealth Management LLC’s holdings in Microsoft were worth $11,953,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Monumental Financial Group Inc. acquired a new position in shares of Microsoft in the 1st quarter valued at $28,000. Gleason Group Inc. lifted its stake in shares of Microsoft by 111.7% in the 1st quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock valued at $57,000 after purchasing an additional 105 shares during the period. Syverson Strege & Co lifted its stake in shares of Microsoft by 157.0% in the 1st quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock valued at $58,000 after purchasing an additional 124 shares during the period. MayTech Global Investments LLC acquired a new position in shares of Microsoft in the 4th quarter valued at $83,000. Finally, Beutel Goodman & Co Ltd. lifted its stake in shares of Microsoft by 57.5% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock valued at $95,000 after purchasing an additional 150 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MSFT has been the subject of several analyst reports. DA Davidson boosted their target price on shares of Microsoft from $350.00 to $415.00 in a research note on Friday, July 21st. KeyCorp boosted their target price on shares of Microsoft from $340.00 to $400.00 in a research note on Tuesday, July 18th. Wells Fargo & Company boosted their price target on shares of Microsoft from $380.00 to $400.00 and gave the stock an “overweight” rating in a report on Wednesday, July 19th. UBS Group raised shares of Microsoft from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $345.00 to $400.00 in a report on Friday, July 14th. Finally, Wedbush reissued an “outperform” rating and issued a $400.00 price target on shares of Microsoft in a report on Thursday, September 21st. Five research analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $375.03.
Insider Transactions at Microsoft
In other news, insider Bradford L. Smith sold 50,000 shares of the 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 owns 588,084 shares of the company’s stock, valued at $198,301,924.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Kathleen T. Hogan sold 26,815 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 198,373 shares of the company’s stock, valued at $64,941,369.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradford L. Smith sold 50,000 shares of the 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 sale, 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. Over the last quarter, insiders have sold 115,049 shares of company stock valued at $38,195,619. 0.03% of the stock is currently owned by corporate insiders.
Microsoft Trading Up 0.7 %
NASDAQ MSFT opened at $315.75 on Friday. The firm’s 50-day moving average is $327.03 and its two-hundred day moving average is $318.08. Microsoft Co. has a 12 month low of $213.43 and a 12 month high of $366.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 1.75. The stock has a market capitalization of $2.35 trillion, a P/E ratio of 32.59, a PEG ratio of 2.31 and a beta of 0.90.
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. 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 analysts’ expectations of $55.49 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. Microsoft’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Microsoft Co. will post 10.9 earnings per share for the current year.
Microsoft Increases Dividend
The firm also recently declared 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%. 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 dividend payout ratio is currently 30.96%.
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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