PACK Private Wealth LLC Purchases Shares of 493 Microsoft Co. (NASDAQ:MSFT)

PACK Private Wealth LLC acquired a new stake in shares of Microsoft Co. (NASDAQ:MSFT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 493 shares of the software giant’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MSFT. Christopher J. Hasenberg Inc grew its holdings in Microsoft by 169.2% during the second quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after buying an additional 44 shares in the last quarter. Richardson Capital Management LLC grew its holdings in Microsoft by 1,290.0% during the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after buying an additional 129 shares in the last quarter. Innealta Capital LLC bought a new stake in Microsoft during the second quarter worth $75,000. Bellevue Group AG grew its holdings in Microsoft by 47.5% during the first quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after buying an additional 58 shares in the last quarter. Finally, Horizon Financial Services LLC bought a new stake in Microsoft during the first quarter worth $80,000. Institutional investors own 71.13% of the company’s stock.

Microsoft Stock Performance

NASDAQ:MSFT opened at $418.16 on Friday. The business’s 50-day moving average price is $419.66 and its two-hundred day moving average price is $424.49. Microsoft Co. has a twelve month low of $324.39 and a twelve month high of $468.35. The stock has a market cap of $3.11 trillion, a P/E ratio of 36.20, a PEG ratio of 2.22 and a beta of 0.90. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.16.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.05. The firm had revenue of $64.73 billion for the quarter, compared to analysts’ expectations of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.69 EPS. As a group, equities analysts predict that Microsoft Co. will post 13.02 EPS for the current fiscal year.

Microsoft declared that its board has initiated a stock repurchase program on Monday, September 16th that authorizes the company to buyback $60.00 billion in outstanding shares. This buyback authorization authorizes the software giant to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Microsoft Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.83 per share. The ex-dividend date is Thursday, November 21st. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 annualized dividend and a dividend yield of 0.79%. Microsoft’s dividend payout ratio is 28.74%.

Insider Activity

In other news, CEO Satya Nadella sold 78,353 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 864,327 shares in the company, valued at approximately $353,189,942.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Satya Nadella sold 78,353 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 864,327 shares in the company, valued at approximately $353,189,942.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy Hood sold 38,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $410.55, for a total value of $15,600,900.00. Following the transaction, the chief financial officer now owns 496,369 shares in the company, valued at approximately $203,784,292.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 190,629 shares of company stock worth $77,916,485. 0.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MSFT shares. Piper Sandler decreased their price target on Microsoft from $485.00 to $470.00 and set an “overweight” rating for the company in a report on Friday. Argus upped their price target on Microsoft from $475.00 to $526.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Citigroup decreased their price target on Microsoft from $520.00 to $500.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Bank of America upped their price objective on Microsoft from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, BMO Capital Markets upped their price objective on Microsoft from $465.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $495.68.

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.