Prestige Wealth Management Group LLC Sells 378 Shares of Microsoft Co. (NASDAQ:MSFT)

Prestige Wealth Management Group LLC trimmed its holdings in Microsoft Co. (NASDAQ:MSFT) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,913 shares of the software giant’s stock after selling 378 shares during the period. Microsoft accounts for about 2.7% of Prestige Wealth Management Group LLC’s portfolio, making the stock its 11th biggest holding. Prestige Wealth Management Group LLC’s holdings in Microsoft were worth $12,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc lifted its holdings in shares of 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 shares of Microsoft by 1,290.0% during the 1st quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after purchasing an additional 129 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Microsoft in the second quarter worth $75,000. Bellevue Group AG raised its stake in Microsoft by 47.5% in the first quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock valued at $76,000 after purchasing an additional 58 shares in the last quarter. Finally, Horizon Financial Services LLC bought a new stake in shares of Microsoft during the 1st quarter worth approximately $80,000. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Microsoft

In related news, CEO Satya Nadella sold 14,398 shares of Microsoft stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $417.41, for a total value of $6,009,869.18. Following the completion of the sale, the chief executive officer now owns 786,933 shares of the company’s stock, valued at approximately $328,473,703.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Satya Nadella sold 14,398 shares of Microsoft stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $417.41, for a total value of $6,009,869.18. Following the completion of the transaction, the chief executive officer now owns 786,933 shares in the company, valued at $328,473,703.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy Hood sold 38,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 496,369 shares in the company, valued at approximately $203,784,292.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 190,629 shares of company stock worth $77,916,485 over the last ninety days. 0.03% of the stock is currently owned by company insiders.

Microsoft Stock Performance

NASDAQ MSFT opened at $424.60 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. The company has a fifty day moving average price of $420.33 and a 200-day moving average price of $424.56. Microsoft Co. has a 1 year low of $326.94 and a 1 year high of $468.35. The firm has a market cap of $3.16 trillion, a price-to-earnings ratio of 36.76, a PEG ratio of 2.22 and a beta of 0.90.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Tuesday, July 30th. The software giant reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.05. The business 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 business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.69 earnings per share. As a group, equities research analysts predict that Microsoft Co. will post 13.02 EPS for the current fiscal year.

Microsoft announced that its Board of Directors has initiated a share buyback plan on Monday, September 16th that allows the company to buyback $60.00 billion in shares. This buyback authorization allows the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Microsoft Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.78%. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, November 21st. Microsoft’s dividend payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MSFT. Argus raised their price objective on Microsoft from $475.00 to $526.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. BMO Capital Markets upped their target price on Microsoft from $465.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. The Goldman Sachs Group reduced their price target on Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Oppenheimer lowered shares of Microsoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $506.00 price objective on shares of Microsoft in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $495.58.

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.