Accurate Wealth Management LLC grew its stake in Microsoft Co. (NASDAQ:MSFT – Free Report) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,629 shares of the software giant’s stock after buying an additional 537 shares during the period. Microsoft accounts for 1.8% of Accurate Wealth Management LLC’s holdings, making the stock its 8th biggest position. Accurate Wealth Management LLC’s holdings in Microsoft were worth $5,739,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Monumental Financial Group Inc. purchased a new position in Microsoft during the 1st quarter worth approximately $28,000. Gleason Group Inc. raised its holdings in shares of Microsoft by 111.7% during the first quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock worth $57,000 after purchasing an additional 105 shares during the last quarter. Syverson Strege & Co lifted its position in Microsoft by 157.0% during the first quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock valued at $58,000 after purchasing an additional 124 shares during the period. MayTech Global Investments LLC purchased a new stake in Microsoft in the fourth quarter valued at $83,000. Finally, Beutel Goodman & Co Ltd. grew its position in Microsoft by 57.5% during the 3rd quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock worth $95,000 after purchasing an additional 150 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Microsoft
In other Microsoft news, EVP Kathleen T. Hogan sold 26,815 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were 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 owns 198,373 shares of the company’s stock, valued at $64,941,369.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Kathleen T. Hogan sold 26,815 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $327.37, for a total value of $8,778,426.55. Following the sale, the executive vice president now directly owns 198,373 shares of the company’s stock, valued at approximately $64,941,369.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradford L. Smith sold 50,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $198,301,924.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,049 shares of company stock worth $38,195,619. 0.03% of the stock is currently owned by company insiders.
Microsoft Trading Up 3.1 %
Microsoft (NASDAQ:MSFT – Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The software giant reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.34. The business had revenue of $56.52 billion during the quarter, compared to analysts’ expectations of $54.52 billion. Microsoft had a net margin of 34.15% and a return on equity of 38.70%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.35 EPS. As a group, equities analysts predict that Microsoft Co. will post 10.9 earnings per share for the current 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 paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.88%. 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. Microsoft’s dividend payout ratio is 30.96%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on MSFT. Mizuho boosted their price objective on Microsoft from $360.00 to $390.00 and gave the company a “buy” rating in a report on Monday, July 17th. Jefferies Financial Group restated a “buy” rating and issued a $400.00 price objective on shares of Microsoft in a research report on Monday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $390.00 target price on shares of Microsoft in a report on Wednesday. Stifel Nicolaus increased their price target on shares of Microsoft from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $415.00 price objective on shares of Microsoft in a report on Monday, October 16th. Five research analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $379.93.
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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