Meridian Financial Partners LLC bought a new stake in Microsoft Co. (NASDAQ:MSFT – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,183 shares of the software giant’s stock, valued at approximately $4,920,000. Microsoft comprises about 3.0% of Meridian Financial Partners LLC’s holdings, making the stock its 8th biggest holding.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Good Life Advisors LLC increased its position in shares of Microsoft by 0.6% during the 2nd quarter. Good Life Advisors LLC now owns 54,021 shares of the software giant’s stock worth $18,396,000 after purchasing an additional 311 shares during the last quarter. Carr Financial Group Corp increased its position in shares of Microsoft by 4.0% during the 2nd quarter. Carr Financial Group Corp now owns 10,761 shares of the software giant’s stock worth $3,665,000 after purchasing an additional 417 shares during the last quarter. Planning Center Inc. boosted its stake in shares of Microsoft by 24.4% during the 2nd quarter. Planning Center Inc. now owns 4,849 shares of the software giant’s stock worth $1,651,000 after acquiring an additional 950 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Microsoft by 6.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 1,518,749 shares of the software giant’s stock worth $437,855,000 after acquiring an additional 94,563 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in shares of Microsoft by 1.0% during the 2nd quarter. DAVENPORT & Co LLC now owns 868,980 shares of the software giant’s stock worth $295,161,000 after acquiring an additional 8,762 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.
Microsoft Price Performance
Microsoft stock opened at $327.89 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 market capitalization of $2.44 trillion, a PE ratio of 31.74, a P/E/G ratio of 2.35 and a beta of 0.91. Microsoft Co. has a 12 month low of $213.43 and a 12 month high of $366.78. The stock has a 50-day moving average price of $326.41 and a two-hundred day moving average price of $324.11.
Microsoft Increases Dividend
The business 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 dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.91%. This is an increase from Microsoft’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, November 15th. Microsoft’s dividend payout ratio (DPR) is 26.33%.
Insider Transactions at Microsoft
In other news, CEO Satya Nadella sold 38,234 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $328.43, for a total transaction of $12,557,192.62. Following the completion of the transaction, the chief executive officer now directly owns 800,668 shares in the company, valued at $262,963,391.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kathleen T. Hogan sold 26,815 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Satya Nadella sold 38,234 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, 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 115,049 shares of company stock worth $38,195,619 over the last ninety days. 0.03% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have recently commented on MSFT shares. Mizuho lifted their target price on Microsoft from $360.00 to $390.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. DA Davidson reiterated a “buy” rating and set a $415.00 target price on shares of Microsoft in a research note on Monday, October 16th. Stifel Nicolaus lifted their target price on Microsoft from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. Oppenheimer reiterated an “outperform” rating and set a $410.00 target price on shares of Microsoft in a research note on Wednesday. Finally, Citigroup boosted their price target on Microsoft from $430.00 to $432.00 and gave the company a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and thirty-five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $384.34.
Check Out Our Latest Analysis on Microsoft
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.
Featured Stories
- Five stocks we like better than Microsoft
- How to Invest in Small Cap Stocks
- Watch for bears as S&P 500 slices 200-day line
- Transportation Stocks Investing
- Reasons UPS is a strong sell: Reasons to buy it when it bottoms
- Investing in the High PE Growth Stocks
- 3 hot mid-caps set to report Q3 earnings
Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.
