1900 Wealth Management LLC boosted its holdings in Microsoft Co. (NASDAQ:MSFT – Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,418 shares of the software giant’s stock after acquiring an additional 983 shares during the quarter. 1900 Wealth Management LLC’s holdings in Microsoft were worth $3,888,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the business. MPS Loria Financial Planners LLC increased its position in Microsoft by 1.5% in the 2nd quarter. MPS Loria Financial Planners LLC now owns 7,341 shares of the software giant’s stock valued at $2,500,000 after acquiring an additional 106 shares during the period. Riggs Asset Managment Co. Inc. increased its position in Microsoft by 13.6% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 17,057 shares of the software giant’s stock valued at $5,809,000 after acquiring an additional 2,043 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in Microsoft by 3.7% in the 2nd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 7,280 shares of the software giant’s stock valued at $2,479,000 after acquiring an additional 257 shares during the period. Sterling Manor Financial LLC increased its position in Microsoft by 19.3% in the 2nd quarter. Sterling Manor Financial LLC now owns 1,360 shares of the software giant’s stock valued at $463,000 after acquiring an additional 220 shares during the period. Finally, Private Ocean LLC increased its position in Microsoft by 7.5% in the 2nd quarter. Private Ocean LLC now owns 26,122 shares of the software giant’s stock valued at $8,895,000 after acquiring an additional 1,818 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.
Microsoft Price Performance
NASDAQ MSFT opened at $326.67 on Friday. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $366.78. The stock’s 50-day moving average is $325.50 and its two-hundred day moving average is $323.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 1.75. The firm has a market cap of $2.43 trillion, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 2.44 and a beta of 0.91.
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 paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.92%. Microsoft’s payout ratio is presently 28.07%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $400.00 price target on shares of Microsoft in a research report on Monday, October 16th. DA Davidson reiterated a “buy” rating and set a $415.00 price target on shares of Microsoft in a research report on Monday, October 16th. Tigress Financial lifted their price target on Microsoft from $411.00 to $433.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. BMO Capital Markets lifted their price target on Microsoft from $385.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Finally, Fundamental Research set a $298.10 price target on Microsoft and gave the company a “hold” rating in a research report on Wednesday, August 9th. Five analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $378.11.
Check Out Our Latest Stock Report on Microsoft
Insider Activity at Microsoft
In related news, insider Bradford L. Smith sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the transaction, the insider now directly owns 588,084 shares in the company, valued at $198,301,924.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Bradford L. Smith sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the transaction, the insider now directly owns 588,084 shares in the company, valued at $198,301,924.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Satya Nadella sold 38,234 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $328.43, for a total value of $12,557,192.62. Following the transaction, the chief executive officer now owns 800,668 shares in the company, valued at $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 three months. Company insiders own 0.03% of the company’s stock.
About Microsoft
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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