Microsoft Co. (NASDAQ:MSFT) Shares Purchased by Asset Management Resources LLC

Posted by Defense World Staff on Oct 1st, 2023

Asset Management Resources LLC boosted its position in Microsoft Co. (NASDAQ:MSFT – Free Report) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,703 shares of the software giant’s stock after buying an additional 121 shares during the quarter. Microsoft accounts for approximately 0.8% of Asset Management Resources LLC’s holdings, making the stock its 12th biggest holding. Asset Management Resources LLC’s holdings in Microsoft were worth $1,261,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Good Life Advisors LLC increased its position in shares of Microsoft by 0.6% in the 2nd quarter. Good Life Advisors LLC now owns 54,021 shares of the software giant’s stock worth $18,396,000 after purchasing an additional 311 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Microsoft by 6.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 1,518,749 shares of the software giant’s stock worth $437,855,000 after purchasing an additional 94,563 shares during the last quarter. Spinnaker Investment Group LLC increased its position in shares of Microsoft by 2.6% in the 1st quarter. Spinnaker Investment Group LLC now owns 11,951 shares of the software giant’s stock worth $3,445,000 after purchasing an additional 305 shares during the last quarter. Kalos Management Inc. bought a new stake in shares of Microsoft in the 1st quarter worth about $159,000. Finally, Premier Fund Managers Ltd increased its position in shares of Microsoft by 117.2% in the 1st quarter. Premier Fund Managers Ltd now owns 85,364 shares of the software giant’s stock worth $24,250,000 after purchasing an additional 46,056 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

Analyst Upgrades and Downgrades

MSFT has been the subject of several research analyst reports. Guggenheim raised shares of Microsoft from a “sell” rating to a “neutral” rating in a research report on Monday, September 25th. Bank of America boosted their price objective on shares of Microsoft from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Sanford C. Bernstein boosted their price objective on shares of Microsoft from $398.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, September 20th. Citigroup reaffirmed a “buy” rating and set a $420.00 price objective on shares of Microsoft in a research report on Friday, September 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Microsoft from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday, July 19th. Five equities research analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $375.03.

Read Our Latest Report on Microsoft

Microsoft Stock Up 0.7 %

MSFT stock opened at $315.75 on Friday. Microsoft Co. has a 12 month low of $213.43 and a 12 month high of $366.78. The firm has a market cap of $2.35 trillion, a PE ratio of 32.59, a P/E/G ratio of 2.31 and a beta of 0.90. The firm has a 50 day simple moving average of $327.03 and a 200 day simple moving average of $318.08. 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 (NASDAQ:MSFT – Get Free Report) last released its earnings results on Tuesday, July 25th. The software giant reported $2.69 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 business had revenue of $56.19 billion during the quarter, compared to analyst estimates of $55.49 billion. During the same period in the prior year, the business earned $2.23 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts forecast that Microsoft Co. will post 10.9 earnings per share for the current fiscal year.

Microsoft Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. Microsoft’s payout ratio is currently 30.96%.

Insider Activity

In other news, CEO Satya Nadella sold 38,234 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $328.43, for a total transaction of $12,557,192.62. Following the sale, the chief executive officer now owns 800,668 shares in the company, valued at $262,963,391.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Microsoft news, EVP Kathleen T. Hogan sold 26,815 shares of the company’s stock in a transaction that occurred 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 owns 198,373 shares in the company, valued at approximately $64,941,369.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Satya Nadella sold 38,234 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $328.43, for a total transaction of $12,557,192.62. Following the completion of the transaction, the chief executive officer now owns 800,668 shares in the company, valued at approximately $262,963,391.24. The disclosure for this sale can be found here. Insiders have sold 115,049 shares of company stock worth $38,195,619 over the last 90 days. 0.03% of the stock is owned by company insiders.

About Microsoft

(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.