CCG Wealth Management LLC Buys 270 Shares of Microsoft Co. (NASDAQ:MSFT)

CCG Wealth Management LLC boosted its stake in Microsoft Co. (NASDAQ:MSFT) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,099 shares of the software giant’s stock after purchasing an additional 270 shares during the quarter. Microsoft comprises about 2.9% of CCG Wealth Management LLC’s investment portfolio, making the stock its 7th largest holding. CCG Wealth Management LLC’s holdings in Microsoft were worth $5,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc increased its position in shares of Microsoft by 169.2% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock valued at $31,000 after buying an additional 44 shares in the last quarter. Quarry LP acquired a new position in Microsoft in the second quarter valued at about $45,000. Richardson Capital Management LLC increased its holdings in shares of Microsoft by 1,290.0% in the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after acquiring an additional 129 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Microsoft during the 2nd quarter valued at about $75,000. Finally, Bellevue Group AG grew its position in shares of Microsoft by 47.5% in the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock valued at $76,000 after purchasing an additional 58 shares during the period. Institutional investors own 71.13% of the company’s stock.

Microsoft Trading Up 1.3 %

Shares of NASDAQ:MSFT opened at $431.95 on Wednesday. The company has a 50-day simple moving average of $420.84 and a 200 day simple moving average of $424.65. The company has a market capitalization of $3.21 trillion, a P/E ratio of 36.57, a price-to-earnings-growth ratio of 2.24 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.27 and a current ratio of 1.27. Microsoft Co. has a 52-week low of $331.83 and a 52-week high of $468.35.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings data on Tuesday, July 30th. The software giant reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.05. The company had revenue of $64.73 billion during 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 period last year, the firm posted $2.69 earnings per share. Sell-side analysts forecast that Microsoft Co. will post 13.02 earnings per share for the current year.

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

Microsoft Increases Dividend

The firm also recently declared 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 is an increase from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, November 21st. This represents a $3.32 annualized dividend and a yield of 0.77%. Microsoft’s dividend payout ratio (DPR) is currently 28.11%.

Insiders Place Their Bets

In other news, insider Bradford L. Smith sold 40,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 544,847 shares of the company’s stock, valued at $219,349,953.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Bradford L. Smith sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was 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 in the company, valued at $219,349,953.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Satya Nadella sold 14,398 shares of the company’s stock in a transaction that occurred on 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 directly owns 786,933 shares in the company, valued at $328,473,703.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 190,629 shares of company stock valued at $77,916,485 over the last ninety days. 0.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MSFT has been the topic of several research analyst reports. UBS Group dropped their target price on shares of Microsoft from $520.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Mizuho boosted their price objective on shares of Microsoft from $450.00 to $480.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Sanford C. Bernstein reduced their target price on shares of Microsoft from $501.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Morgan Stanley reissued an “overweight” rating and issued a $506.00 price target on shares of Microsoft in a research note on Tuesday, September 17th. Finally, TD Cowen increased their price objective on Microsoft from $470.00 to $495.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $502.97.

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.