Bay Harbor Wealth Management LLC boosted its position in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 134.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,242 shares of the software giant’s stock after purchasing an additional 713 shares during the period. Bay Harbor Wealth Management LLC’s holdings in Microsoft were worth $423,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Sightline Wealth Advisors LLC raised its position in Microsoft by 0.9% during the 2nd quarter. Sightline Wealth Advisors LLC now owns 3,337 shares of the software giant’s stock worth $962,000 after buying an additional 29 shares during the last quarter. Eagle Bluffs Wealth Management LLC grew its stake in shares of Microsoft by 0.3% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 10,577 shares of the software giant’s stock worth $3,602,000 after purchasing an additional 31 shares during the period. Strategic Investment Solutions Inc. IL grew its stake in shares of Microsoft by 0.8% during 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 grew its stake in shares of Microsoft by 0.5% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 7,166 shares of the software giant’s stock worth $2,074,000 after purchasing an additional 33 shares during the period. Finally, Affiance Financial LLC grew its stake 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 purchasing an additional 35 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. UBS Group raised shares of Microsoft from a “neutral” rating to a “buy” rating and upped their price target for the stock from $345.00 to $400.00 in a research note on Friday, July 14th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $400.00 price target on shares of Microsoft in a research note on Monday, October 2nd. Tigress Financial upped their price target on shares of Microsoft from $411.00 to $433.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Sanford C. Bernstein upped their price target on shares of Microsoft from $398.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 20th. Finally, Fundamental Research set a $298.10 price objective on shares of Microsoft and gave the company a “hold” rating in a research note on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $376.34.
Insider Buying and Selling at Microsoft
In other Microsoft news, CEO Satya Nadella sold 38,234 shares of the business’s stock in a transaction 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 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 legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Kathleen T. Hogan sold 26,815 shares of the business’s 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 transaction, 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 SEC, which is accessible through this hyperlink. Also, CEO Satya Nadella sold 38,234 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly 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. Insiders sold a total of 115,049 shares of company stock worth $38,195,619 over the last 90 days. Insiders own 0.03% of the company’s stock.
Microsoft Stock Down 0.4 %
Shares of NASDAQ:MSFT opened at $331.16 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $324.90 and a 200 day simple moving average of $320.90. The firm has a market cap of $2.46 trillion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. Microsoft Co. has a 12-month low of $213.43 and a 12-month high of $366.78.
Microsoft (NASDAQ:MSFT – Get Free Report) last released 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. Microsoft had a net margin of 34.15% and a return on equity of 38.70%. The firm had revenue of $56.19 billion during the quarter, compared to analyst estimates of $55.49 billion. During the same quarter in the previous year, the firm earned $2.23 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that Microsoft Co. will post 10.9 EPS for the current fiscal year.
Microsoft Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.75 per share. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $3.00 annualized dividend and a yield of 0.91%. Microsoft’s payout ratio is presently 28.07%.
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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