Microsoft Co. (NASDAQ:MSFT) Shares Acquired by Resource Consulting Group Inc.

Posted by Defense World Staff on Oct 4th, 2023

Resource Consulting Group Inc. boosted its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 398.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,395 shares of the software giant’s stock after purchasing an additional 9,910 shares during the quarter. Microsoft comprises approximately 0.8% of Resource Consulting Group Inc.’s holdings, making the stock its 9th largest position. Resource Consulting Group Inc.’s holdings in Microsoft were worth $4,221,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Sightline Wealth Advisors LLC increased its holdings in Microsoft by 0.9% in the second quarter. Sightline Wealth Advisors LLC now owns 3,337 shares of the software giant’s stock valued at $962,000 after purchasing an additional 29 shares during the period. Strategic Investment Solutions Inc. IL lifted its position in shares of Microsoft by 0.8% in the 1st quarter. Strategic Investment Solutions Inc. IL now owns 4,208 shares of the software giant’s stock worth $1,213,000 after purchasing an additional 32 shares during the period. Arbor Capital Management Inc. ADV lifted its holdings in Microsoft by 0.5% in the first quarter. Arbor Capital Management Inc. ADV now owns 7,166 shares of the software giant’s stock valued at $2,074,000 after buying an additional 33 shares during the period. Affiance Financial LLC boosted 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 buying an additional 35 shares in the last quarter. Finally, Five Oceans Advisors lifted its position in shares of Microsoft by 0.3% during the 2nd quarter. Five Oceans Advisors now owns 10,744 shares of the software giant’s stock valued at $3,659,000 after acquiring an additional 35 shares during the period. 69.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MSFT. Jefferies Financial Group restated a “buy” rating and issued a $400.00 target price on shares of Microsoft in a research note on Monday. Redburn Partners cut their target price on shares of Microsoft from $450.00 to $440.00 and set a “buy” rating for the company in a research report on Friday, August 11th. The Goldman Sachs Group increased their target price on shares of Microsoft from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. BMO Capital Markets increased their target price on shares of Microsoft from $385.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Finally, Barclays raised their price target on shares of Microsoft from $336.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, July 19th. Five research analysts have rated the stock with a hold rating and thirty-four have given a buy rating to the company. According to data from MarketBeat, Microsoft presently has an average rating of “Moderate Buy” and an average price target of $376.34.

Get Our Latest Stock Analysis on MSFT

Insider Activity at Microsoft

In other Microsoft news, insider Bradford L. Smith sold 50,000 shares of the firm’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 directly owns 588,084 shares in the company, valued at approximately $198,301,924.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Bradford L. Smith sold 50,000 shares of Microsoft 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 completion of the transaction, the insider now directly owns 588,084 shares of the company’s stock, valued at approximately $198,301,924.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Satya Nadella sold 38,234 shares of Microsoft 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 sale, the chief executive officer now owns 800,668 shares of the company’s stock, valued at approximately $262,963,391.24. 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 owned by insiders.

Microsoft Trading Down 2.6 %

Shares of MSFT stock opened at $313.39 on Wednesday. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $366.78. The stock has a market cap of $2.33 trillion, a P/E ratio of 32.34, a P/E/G ratio of 2.33 and a beta of 0.91. The business has a fifty day simple moving average of $325.81 and a 200-day simple moving average of $319.01. The company has a quick ratio of 1.75, a current ratio of 1.77 and a debt-to-equity ratio of 0.20.

Microsoft (NASDAQ:MSFT – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The software giant reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.14. The company had revenue of $56.19 billion for 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%. Microsoft’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 EPS. On average, analysts forecast that Microsoft Co. will post 10.9 earnings per share for the current fiscal 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 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 0.96%. This is an increase from Microsoft’s previous quarterly dividend of $0.68. Microsoft’s dividend payout ratio (DPR) is currently 28.07%.

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.