Avantax Planning Partners Inc. boosted its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,065 shares of the software giant’s stock after purchasing an additional 2,341 shares during the quarter. Microsoft comprises approximately 0.7% of Avantax Planning Partners Inc.’s holdings, making the stock its 28th largest position. Avantax Planning Partners Inc.’s holdings in Microsoft were worth $17,390,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MSFT. Monumental Financial Group Inc. bought a new stake in Microsoft during the 1st quarter valued at approximately $28,000. Gleason Group Inc. lifted its position in shares of Microsoft by 111.7% in the 1st quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock worth $57,000 after acquiring an additional 105 shares during the period. Syverson Strege & Co lifted its position in shares of Microsoft by 157.0% in the 1st quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock worth $58,000 after acquiring an additional 124 shares during the period. MayTech Global Investments LLC bought a new stake in shares of Microsoft in the 4th quarter worth approximately $83,000. Finally, Beutel Goodman & Co Ltd. lifted its position 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 worth $95,000 after acquiring an additional 150 shares during the period. Institutional investors own 69.20% of the company’s stock.
Microsoft Stock Up 2.5 %
NASDAQ:MSFT opened at $327.26 on Friday. Microsoft Co. has a 12-month low of $213.43 and a 12-month high of $366.78. The company has a quick ratio of 1.75, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.43 trillion, a P/E ratio of 33.77, a P/E/G ratio of 2.35 and a beta of 0.91. The stock’s fifty day simple moving average is $324.99 and its 200-day simple moving average is $319.71.
Microsoft Increases Dividend
The business 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 $0.75 dividend. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. This represents a $3.00 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Wednesday, November 15th. Microsoft’s dividend payout ratio (DPR) is currently 28.07%.
Analyst Ratings Changes
A number of analysts have commented on MSFT shares. Redburn Partners reduced their price objective on Microsoft from $450.00 to $440.00 and set a “buy” rating for the company in a research report on Friday, August 11th. HSBC started coverage on Microsoft in a research report on Friday, September 15th. They issued a “hold” rating and a $347.00 price objective for the company. Stifel Nicolaus raised their price objective on Microsoft from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Argus increased their target price on Microsoft from $371.00 to $390.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, KeyCorp increased their target price on Microsoft from $340.00 to $400.00 in a report on Tuesday, July 18th. Five research analysts have rated the stock with a hold rating and thirty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $376.34.
Get Our Latest Research Report on MSFT
Insider Transactions at Microsoft
In other news, EVP Kathleen T. Hogan sold 26,815 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 198,373 shares in the company, valued at approximately $64,941,369.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Microsoft news, EVP Kathleen T. Hogan sold 26,815 shares of Microsoft stock in a transaction dated 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 transaction, the executive vice president now directly owns 198,373 shares in the company, valued at $64,941,369.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bradford L. Smith sold 50,000 shares of Microsoft stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $337.20, for a total value of $16,860,000.00. Following the transaction, the insider now owns 588,084 shares in the company, valued at $198,301,924.80. The disclosure for this sale can be found here. Insiders have sold 115,049 shares of company stock worth $38,195,619 in the last three months. Insiders own 0.03% of the company’s stock.
Microsoft 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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