Onyx Bridge Wealth Group LLC Has $4.12 Million Stock Position in Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Oct 30th, 2023

Onyx Bridge Wealth Group LLC raised its position in Microsoft Co. (NASDAQ:MSFT – Free Report) by 63.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,097 shares of the software giant’s stock after purchasing an additional 4,693 shares during the quarter. Microsoft accounts for about 1.0% of Onyx Bridge Wealth Group LLC’s holdings, making the stock its 24th biggest holding. Onyx Bridge Wealth Group LLC’s holdings in Microsoft were worth $4,119,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Monumental Financial Group Inc. bought a new stake in Microsoft in the first quarter worth approximately $28,000. Gleason Group Inc. boosted its position in shares of Microsoft by 111.7% during the first quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock valued at $57,000 after buying an additional 105 shares during the last quarter. Syverson Strege & Co boosted its position in shares of 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 buying an additional 124 shares during the last quarter. MayTech Global Investments LLC purchased a new position in shares of Microsoft during the fourth quarter valued at approximately $83,000. Finally, Beutel Goodman & Co Ltd. boosted its position in shares of Microsoft by 57.5% during the third quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock valued at $95,000 after buying an additional 150 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors.

Microsoft Stock Up 0.6 %

Shares of NASDAQ:MSFT opened at $329.81 on Monday. The stock has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.26 and a beta of 0.91. The stock has a fifty day simple moving average of $326.68 and a two-hundred day simple moving average of $324.68. Microsoft Co. has a 12-month low of $213.43 and a 12-month high of $366.78. The company has a current ratio of 1.66, a quick ratio of 1.75 and a debt-to-equity ratio of 0.19.

Microsoft (NASDAQ:MSFT – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The software giant reported $2.99 EPS for the quarter, topping the consensus estimate of $2.65 by $0.34. Microsoft had a return on equity of 38.79% and a net margin of 35.31%. The company had revenue of $56.52 billion during the quarter, compared to analyst estimates of $54.52 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. Microsoft’s revenue was up 12.8% compared to the same quarter last year. On average, research analysts anticipate that Microsoft Co. will post 11.11 earnings per share for the current fiscal year.

Microsoft Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be given a $0.75 dividend. This is an increase from Microsoft’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, November 15th. Microsoft’s payout ratio is currently 26.33%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MSFT shares. Argus lifted their target price on Microsoft from $371.00 to $390.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Tigress Financial boosted their price objective on Microsoft from $411.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. TD Cowen boosted their price objective on Microsoft from $330.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 19th. Morgan Stanley boosted their price objective on Microsoft from $335.00 to $415.00 in a research report on Thursday, July 6th. Finally, Mizuho boosted their price objective on Microsoft from $360.00 to $390.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. Four analysts have rated the stock with a hold rating and thirty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $384.34.

Get Our Latest Analysis on Microsoft

Insider Buying and Selling

In other news, CEO Satya Nadella sold 38,234 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 800,668 shares of the company’s stock, valued at $262,963,391.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Microsoft news, EVP Kathleen T. Hogan sold 26,815 shares of the company’s stock in a transaction 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 in the company, valued at $64,941,369.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Satya Nadella sold 38,234 shares of the company’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 sale, the chief executive officer now 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. Over the last three months, insiders have sold 115,049 shares of company stock worth $38,195,619. Corporate insiders own 0.03% of the company’s stock.

Microsoft Company 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.