Allegheny Financial Group LTD Buys 2,786 Shares of Microsoft Co. (NASDAQ:MSFT)

Allegheny Financial Group LTD lifted its holdings in Microsoft Co. (NASDAQ:MSFT) by 15.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,332 shares of the software giant’s stock after acquiring an additional 2,786 shares during the period. Microsoft makes up approximately 2.6% of Allegheny Financial Group LTD’s portfolio, making the stock its 10th biggest position. Allegheny Financial Group LTD’s holdings in Microsoft were worth $9,088,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rebalance LLC raised its holdings in Microsoft by 0.7% during the 2nd quarter. Rebalance LLC now owns 3,451 shares of the software giant’s stock valued at $1,542,000 after acquiring an additional 24 shares during the period. First National Bank Sioux Falls increased its holdings in shares of Microsoft by 0.4% in the second quarter. First National Bank Sioux Falls now owns 6,340 shares of the software giant’s stock worth $2,834,000 after purchasing an additional 24 shares during the period. Partnership Wealth Management LLC increased its holdings in shares of Microsoft by 0.4% in the first quarter. Partnership Wealth Management LLC now owns 6,202 shares of the software giant’s stock worth $2,609,000 after purchasing an additional 25 shares during the period. Doheny Asset Management CA increased its holdings in shares of Microsoft by 0.4% in the first quarter. Doheny Asset Management CA now owns 6,397 shares of the software giant’s stock worth $2,691,000 after purchasing an additional 25 shares during the period. Finally, Flagship Private Wealth LLC increased its holdings in shares of Microsoft by 2.8% in the second quarter. Flagship Private Wealth LLC now owns 913 shares of the software giant’s stock worth $408,000 after purchasing an additional 25 shares during the period. 71.13% of the stock is owned by institutional investors.

Microsoft Stock Performance

Shares of MSFT opened at $416.12 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.27 and a quick ratio of 1.27. Microsoft Co. has a one year low of $324.39 and a one year high of $468.35. The company has a 50-day simple moving average of $419.14 and a two-hundred day simple moving average of $424.59. The firm has a market capitalization of $3.09 trillion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings data on Tuesday, July 30th. The software giant reported $2.95 EPS for the quarter, topping the consensus estimate of $2.90 by $0.05. Microsoft had a net margin of 35.96% and a return on equity of 35.95%. The business had revenue of $64.73 billion during the quarter, compared to analyst estimates of $64.38 billion. During the same period last year, the business posted $2.69 earnings per share. Microsoft’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts anticipate that Microsoft Co. will post 13.02 EPS for the current fiscal year.

Microsoft declared that its board has authorized a share repurchase plan on Monday, September 16th that permits the company to buyback $60.00 billion in outstanding shares. This buyback authorization permits the software giant to buy up to 1.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Microsoft Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.83 per share. This is an increase from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.80%. Microsoft’s dividend payout ratio (DPR) is currently 28.74%.

Insider Buying and Selling at Microsoft

In related news, insider Bradford L. Smith sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $402.59, for a total transaction of $16,103,600.00. Following the completion of the sale, the insider now owns 544,847 shares of the company’s stock, valued at $219,349,953.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Bradford L. Smith sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $402.59, for a total value of $16,103,600.00. Following the sale, the insider now owns 544,847 shares in the company, valued at approximately $219,349,953.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Satya Nadella sold 78,353 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the completion of the sale, the chief executive officer now owns 864,327 shares in the company, valued at $353,189,942.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 190,629 shares of company stock valued at $77,916,485. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MSFT shares. Mizuho upped their price target on shares of Microsoft from $450.00 to $480.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. UBS Group reduced their target price on Microsoft from $520.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group reduced their target price on Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Citigroup reduced their target price on Microsoft from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Wedbush reissued an “outperform” rating and issued a $550.00 target price on shares of Microsoft in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. According to MarketBeat, Microsoft has a consensus rating of “Moderate Buy” and a consensus price target of $493.47.

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.