Exeter Financial LLC cut its holdings in Microsoft Co. (NASDAQ:MSFT – Free Report) by 17.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,813 shares of the software giant’s stock after selling 5,157 shares during the quarter. Microsoft comprises approximately 4.1% of Exeter Financial LLC’s portfolio, making the stock its 4th largest holding. Exeter Financial LLC’s holdings in Microsoft were worth $7,917,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. Colton Groome Financial Advisors LLC increased its stake in Microsoft by 16.5% in the second quarter. Colton Groome Financial Advisors LLC now owns 9,783 shares of the software giant’s stock valued at $3,332,000 after purchasing an additional 1,384 shares during the period. Paragon Wealth Strategies LLC increased its stake in Microsoft by 9.4% in the second quarter. Paragon Wealth Strategies LLC now owns 4,567 shares of the software giant’s stock valued at $1,555,000 after purchasing an additional 393 shares during the period. Pinnacle Associates Ltd. increased its stake in Microsoft by 7.8% in the second quarter. Pinnacle Associates Ltd. now owns 505,019 shares of the software giant’s stock valued at $171,979,000 after purchasing an additional 36,706 shares during the period. Shulman DeMeo Asset Management LLC increased its stake in Microsoft by 2.6% in the second quarter. Shulman DeMeo Asset Management LLC now owns 5,550 shares of the software giant’s stock valued at $1,890,000 after purchasing an additional 140 shares during the period. Finally, Joel Isaacson & Co. LLC increased its stake in Microsoft by 2.1% in the second quarter. Joel Isaacson & Co. LLC now owns 64,845 shares of the software giant’s stock valued at $22,082,000 after purchasing an additional 1,317 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Microsoft
In related news, CEO Satya Nadella sold 38,234 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $328.43, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Microsoft news, EVP Kathleen T. Hogan sold 26,815 shares of the stock in a transaction on Friday, September 1st. The shares were 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 directly owns 198,373 shares in the company, valued at approximately $64,941,369.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Satya Nadella sold 38,234 shares of the stock in a transaction on Friday, September 1st. The shares were 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 in the company, valued at $262,963,391.24. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.
Microsoft Price Performance
Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The software giant reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.34. The company had revenue of $56.52 billion during the quarter, compared to analyst estimates of $54.52 billion. Microsoft had a net margin of 35.31% and a return on equity of 38.79%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 earnings per share. As a group, analysts predict that Microsoft Co. will post 11.11 EPS for the current year.
Microsoft Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.85%. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. The ex-dividend date is Wednesday, November 15th. Microsoft’s dividend payout ratio (DPR) is presently 29.04%.
Wall Street Analyst Weigh In
A number of research firms have commented on MSFT. Argus lifted their price objective on shares of Microsoft from $371.00 to $390.00 and gave the company a “buy” rating in a research note on Monday, July 31st. KeyCorp boosted their price target on shares of Microsoft from $340.00 to $400.00 in a research note on Tuesday, July 18th. TD Cowen boosted their price target on shares of Microsoft from $330.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 19th. Jefferies Financial Group reiterated a “buy” rating and set a $400.00 price target on shares of Microsoft in a research note on Monday, October 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Microsoft from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. Four analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $384.34.
View Our Latest Analysis on MSFT
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.
Featured Stories
- Five stocks we like better than Microsoft
- EV Stocks and How to Profit from Them
- MarketBeat Week in Review – 10/30 – 11/3
- What is a Low P/E Ratio and What Does it Tell Investors?
- Shocking uranium play that hedge funds kept hidden
- How to Analyze Restaurant Stocks
- Dependable dividends: Why utility stocks are on fire
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.
