Blodgett Wealth Advisors LLC boosted its position in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,648 shares of the software giant’s stock after purchasing an additional 511 shares during the period. Microsoft comprises 10.1% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 3rd largest position. Blodgett Wealth Advisors LLC’s holdings in Microsoft were worth $9,756,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of MSFT. Monumental Financial Group Inc. acquired a new position in Microsoft during the 1st quarter worth approximately $28,000. Syverson Strege & Co boosted its position in Microsoft by 157.0% during the 1st quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock worth $58,000 after acquiring an additional 124 shares during the last quarter. Carolina Wealth Advisors LLC boosted its position in Microsoft by 39.0% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 303 shares of the software giant’s stock worth $103,000 after acquiring an additional 85 shares during the last quarter. Alapocas Investment Partners Inc. acquired a new position in Microsoft during the 1st quarter worth approximately $97,000. Finally, MayTech Global Investments LLC acquired a new position in Microsoft during the 4th quarter worth approximately $83,000. Institutional investors and hedge funds own 69.20% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on MSFT. Citigroup increased their price objective on Microsoft from $430.00 to $432.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Argus increased their price objective on Microsoft from $371.00 to $390.00 and gave the company a “buy” rating in a report on Monday, July 31st. BMO Capital Markets increased their price objective on Microsoft from $385.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Piper Sandler increased their price objective on Microsoft from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, October 25th. Finally, Raymond James increased their price objective on Microsoft from $320.00 to $400.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Four equities research analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $384.34.
Insider Transactions at Microsoft
In other Microsoft news, CEO Satya Nadella sold 38,234 shares of Microsoft stock in a transaction that occurred 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 completion of the sale, 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 SEC, which is available at the SEC website. In other Microsoft news, CEO Satya Nadella sold 38,234 shares of Microsoft stock in a transaction that occurred 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 completion of the sale, 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 SEC, which is available at the SEC website. Also, EVP Kathleen T. Hogan sold 26,815 shares of Microsoft stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $327.37, for a total value 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 disclosure for this sale can be found here. 0.03% of the stock is owned by corporate insiders.
Microsoft Price Performance
Shares of MSFT opened at $352.80 on Friday. Microsoft Co. has a 1 year low of $213.43 and a 1 year high of $366.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.66 and a quick ratio of 1.64. The company has a market capitalization of $2.62 trillion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 2.32 and a beta of 0.88. The business has a 50-day moving average of $328.84 and a 200-day moving average of $326.42.
Microsoft (NASDAQ:MSFT – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The software giant reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $54.52 billion. During the same period last year, the company earned $2.35 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Microsoft Co. will post 11.11 earnings per share for the current year.
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 0.85%. This is an increase from Microsoft’s previous quarterly dividend of $0.68. The ex-dividend date is Wednesday, November 15th. Microsoft’s dividend payout ratio (DPR) is 29.04%.
Microsoft 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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