Transcend Wealth Collective LLC lowered its position in Microsoft Co. (NASDAQ:MSFT) by 0.5% during the third quarter, HoldingsChannel.com reports. The fund owned 86,368 shares of the software giant’s stock after selling 437 shares during the quarter. Microsoft accounts for approximately 2.4% of Transcend Wealth Collective LLC’s holdings, making the stock its 6th largest holding. Transcend Wealth Collective LLC’s holdings in Microsoft were worth $26,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MSFT. OLD Mission Capital LLC acquired a new stake in shares of Microsoft in the 3rd quarter worth approximately $1,254,000. Ironwood Wealth Management LLC. lifted its stake in Microsoft by 0.4% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 11,696 shares of the software giant’s stock valued at $3,169,000 after buying an additional 42 shares in the last quarter. Meitav Dash Investments Ltd. lifted its stake in Microsoft by 6.1% in the 2nd quarter. Meitav Dash Investments Ltd. now owns 346,695 shares of the software giant’s stock valued at $93,914,000 after buying an additional 19,983 shares in the last quarter. American Century Companies Inc. lifted its stake in Microsoft by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 19,274,812 shares of the software giant’s stock valued at $5,221,546,000 after buying an additional 280,160 shares in the last quarter. Finally, Winch Advisory Services LLC lifted its stake in Microsoft by 1.3% in the 2nd quarter. Winch Advisory Services LLC now owns 50,825 shares of the software giant’s stock valued at $13,768,000 after buying an additional 667 shares in the last quarter. Institutional investors and hedge funds own 69.05% of the company’s stock.
Shares of NASDAQ MSFT opened at $314.04 on Friday. Microsoft Co. has a 12-month low of $212.03 and a 12-month high of $349.67. The company has a market cap of $2.36 trillion, a P/E ratio of 35.13, a P/E/G ratio of 3.06 and a beta of 0.86. The company has a current ratio of 2.16, a quick ratio of 2.12 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $333.47 and a 200 day moving average price of $305.92.
Microsoft (NASDAQ:MSFT) last announced its earnings results on Monday, October 25th. The software giant reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.19. The company had revenue of $45.32 billion during the quarter, compared to the consensus estimate of $44 billion. Microsoft had a return on equity of 45.80% and a net margin of 38.51%. The company’s revenue was up 22.0% on a year-over-year basis. During the same period last year, the firm earned $1.82 earnings per share. On average, sell-side analysts forecast that Microsoft Co. will post 9.13 EPS for the current fiscal year.
Microsoft declared that its Board of Directors has approved a stock repurchase program on Tuesday, September 14th that authorizes the company to buyback $60.00 billion in outstanding shares. This buyback authorization authorizes the software giant to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 10th. Stockholders of record on Thursday, February 17th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, February 16th. This represents a $2.48 annualized dividend and a dividend yield of 0.79%. Microsoft’s dividend payout ratio is presently 27.74%.
In other news, Director Teri List sold 1,650 shares of the stock in a transaction dated Tuesday, December 7th. The shares were sold at an average price of $334.90, for a total transaction of $552,585.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bradford L. Smith sold 55,000 shares of the stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $328.60, for a total transaction of $18,073,000.00. The disclosure for this sale can be found here. Insiders have sold 530,699 shares of company stock valued at $181,312,457 over the last 90 days. Insiders own 0.05% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Piper Sandler upped their target price on Microsoft from $310.00 to $352.00 and gave the company an “overweight” rating in a research note on Wednesday, October 27th. Bank of America upped their target price on Microsoft from $340.00 to $365.00 and gave the company a “buy” rating in a research note on Wednesday, October 27th. UBS Group started coverage on Microsoft in a research note on Tuesday, December 21st. They issued an “outperform” rating on the stock. Royal Bank of Canada increased their price target on Microsoft from $360.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 27th. Finally, Sumitomo Mitsui Financial Group started coverage on Microsoft in a research note on Wednesday, December 22nd. They set an “outperform” rating and a $410.00 price target on the stock. One analyst has rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $350.34.
Microsoft Company Profile
Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment comprises products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform.
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