Corepath Wealth Partners LLC Purchases Shares of 692 Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Oct 15th, 2023

Corepath Wealth Partners LLC purchased a new stake in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 692 shares of the software giant’s stock, valued at approximately $239,000.

Several other hedge funds have also bought and sold shares of the stock. DGS Capital Management LLC boosted its stake in shares of Microsoft by 19.9% in the first quarter. DGS Capital Management LLC now owns 14,342 shares of the software giant’s stock worth $4,422,000 after acquiring an additional 2,383 shares during the period. IFM Investors Pty Ltd boosted its stake in shares of Microsoft by 20.8% in the first quarter. IFM Investors Pty Ltd now owns 1,138,469 shares of the software giant’s stock worth $351,001,000 after acquiring an additional 196,338 shares during the period. Altus Wealth Group LLC boosted its stake in shares of Microsoft by 1.2% in the first quarter. Altus Wealth Group LLC now owns 12,712 shares of the software giant’s stock worth $3,919,000 after acquiring an additional 152 shares during the period. Powell Investment Advisors LLC lifted its position in shares of Microsoft by 16.2% in the first quarter. Powell Investment Advisors LLC now owns 2,578 shares of the software giant’s stock worth $795,000 after buying an additional 359 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC lifted its position in shares of Microsoft by 8.2% in the first quarter. Onyx Bridge Wealth Group LLC now owns 6,782 shares of the software giant’s stock worth $1,921,000 after buying an additional 512 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. HSBC assumed coverage on Microsoft in a research report on Friday, September 15th. They issued a “hold” rating and a $347.00 target price on the stock. DA Davidson boosted their target price on Microsoft from $350.00 to $415.00 in a research report on Friday, July 21st. Sanford C. Bernstein boosted their target price on Microsoft from $398.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 20th. Barclays boosted their target price on Microsoft from $336.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 19th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $400.00 target price on shares of Microsoft in a research report on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $376.34.

Read Our Latest Research Report on Microsoft

Microsoft Stock Down 1.0 %

Shares of NASDAQ MSFT opened at $327.73 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 stock has a market capitalization of $2.43 trillion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. The stock’s fifty day simple moving average is $324.89 and its two-hundred day simple moving average is $321.58. 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 announced its earnings results on Tuesday, July 25th. The software giant reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.14. The business had revenue of $56.19 billion for the quarter, compared to analysts’ expectations of $55.49 billion. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 EPS. As a group, analysts expect that Microsoft Co. will post 10.9 EPS for the current fiscal year.

Microsoft Increases Dividend

The firm also recently disclosed 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 boost 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 dividend on an annualized basis and a dividend yield of 0.92%. Microsoft’s dividend payout ratio (DPR) is presently 28.07%.

Insider Transactions at Microsoft

In other news, insider Bradford L. Smith sold 50,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 588,084 shares of the company’s stock, valued at approximately $198,301,924.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Satya Nadella sold 38,234 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $328.43, for a total value of $12,557,192.62. Following the completion of the sale, the chief executive officer now owns 800,668 shares of the company’s stock, valued at approximately $262,963,391.24. The transaction was disclosed in a legal 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 firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 588,084 shares of the company’s stock, valued at approximately $198,301,924.80. The disclosure for this sale can be found here. Insiders sold 115,049 shares of company stock valued at $38,195,619 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.

Microsoft 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.