WealthPlan Investment Management LLC lowered its stake in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 96.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 800 shares of the software giant’s stock after selling 19,978 shares during the period. WealthPlan Investment Management LLC’s holdings in Microsoft were worth $139,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Monumental Financial Group Inc. acquired a new position in shares of Microsoft during the 1st quarter worth about $28,000. Gleason Group Inc. raised its stake in shares of Microsoft by 111.7% during the 1st quarter. Gleason Group Inc. now owns 199 shares of the software giant’s stock worth $57,000 after buying an additional 105 shares in the last quarter. Syverson Strege & Co increased its stake in Microsoft by 157.0% in the 1st quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock valued at $58,000 after purchasing an additional 124 shares in the last quarter. MayTech Global Investments LLC purchased a new position in Microsoft in the 4th quarter valued at approximately $83,000. Finally, Beutel Goodman & Co Ltd. increased its position in Microsoft by 57.5% during the third quarter. Beutel Goodman & Co Ltd. now owns 411 shares of the software giant’s stock worth $95,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.
Microsoft Stock Performance
NASDAQ:MSFT opened at $329.81 on Monday. The company has a market cap 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 firm’s 50-day moving average is $326.68 and its 200-day moving average is $324.68. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $366.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.75 and a current ratio of 1.66.
Microsoft Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be paid 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 payout ratio is 26.33%.
Analysts Set New Price Targets
Several equities analysts have weighed in on MSFT shares. TD Cowen raised their price target on Microsoft from $330.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 19th. Wells Fargo & Company restated an “overweight” rating and set a $400.00 price objective on shares of Microsoft in a report on Monday, October 2nd. Royal Bank of Canada restated an “outperform” rating and set a $390.00 price objective on shares of Microsoft in a report on Wednesday, October 25th. Bank of America raised their price objective on Microsoft from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Finally, Sanford C. Bernstein raised their price objective on Microsoft from $398.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, September 20th. Four research analysts have rated the stock with a hold rating and thirty-five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $384.34.
Insider Buying and Selling at Microsoft
In other Microsoft news, insider Bradford L. Smith sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were 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 $198,301,924.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Bradford L. Smith sold 50,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the completion of the transaction, the insider now 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 accessible through the SEC website. Also, EVP Kathleen T. Hogan sold 26,815 shares of the 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 transaction, the executive vice president now owns 198,373 shares of the company’s stock, valued at approximately $64,941,369.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,049 shares of company stock valued at $38,195,619. Corporate insiders own 0.03% of the company’s stock.
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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