Concorde Asset Management LLC Has $2.23 Million Holdings in Microsoft Co. (NASDAQ:MSFT)

Concorde Asset Management LLC decreased its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,998 shares of the software giant’s stock after selling 146 shares during the quarter. Microsoft accounts for approximately 1.4% of Concorde Asset Management LLC’s investment portfolio, making the stock its 17th largest position. Concorde Asset Management LLC’s holdings in Microsoft were worth $2,234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MSFT. Rebalance LLC grew its stake in shares of Microsoft by 0.7% in the 2nd quarter. Rebalance LLC now owns 3,451 shares of the software giant’s stock worth $1,542,000 after acquiring an additional 24 shares in the last quarter. First National Bank Sioux Falls boosted its holdings in Microsoft by 0.4% during 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 last quarter. Doheny Asset Management CA boosted its holdings in Microsoft by 0.4% during 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 last quarter. Flagship Private Wealth LLC grew its position in Microsoft by 2.8% in the 2nd quarter. Flagship Private Wealth LLC now owns 913 shares of the software giant’s stock worth $408,000 after purchasing an additional 25 shares in the last quarter. Finally, Massachusetts Wealth Management increased its stake in Microsoft by 0.3% in the 2nd quarter. Massachusetts Wealth Management now owns 9,640 shares of the software giant’s stock valued at $4,309,000 after buying an additional 25 shares during the last quarter. Institutional investors own 71.13% of the company’s stock.

Microsoft Stock Up 0.7 %

NASDAQ MSFT opened at $411.46 on Wednesday. The business’s 50-day moving average is $420.55 and its 200 day moving average is $424.83. The stock has a market capitalization of $3.06 trillion, a PE ratio of 33.95, a PEG ratio of 2.16 and a beta of 0.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.30 and a quick ratio of 1.29. Microsoft Co. has a 1 year low of $353.35 and a 1 year high of $468.35.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.20. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. The firm had revenue of $65.59 billion for the quarter, compared to analyst estimates of $64.57 billion. During the same period last year, the company earned $2.99 EPS. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Sell-side analysts forecast that Microsoft Co. will post 12.96 earnings per share for the current year.

Microsoft declared that its board has initiated a stock repurchase plan on Monday, September 16th that allows the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization allows the software giant to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are generally a sign 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 given a dividend of $0.83 per share. The ex-dividend date is Thursday, November 21st. This represents a $3.32 annualized dividend and a yield of 0.81%. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s dividend payout ratio (DPR) is currently 24.75%.

Insiders Place Their Bets

In other news, CMO Takeshi Numoto sold 2,500 shares of Microsoft stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total transaction of $1,027,600.00. Following the completion of the transaction, the chief marketing officer now directly owns 50,000 shares in the company, valued at approximately $20,552,000. 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 accessible through the SEC website. In other Microsoft news, insider Bradford L. Smith sold 40,000 shares of Microsoft 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 completion of the transaction, the insider now directly owns 544,847 shares of the company’s stock, valued at approximately $219,349,953.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Takeshi Numoto sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $411.04, for a total transaction of $1,027,600.00. Following the completion of the transaction, the chief marketing officer now owns 50,000 shares in the company, valued at approximately $20,552,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 190,629 shares of company stock worth $77,916,485. 0.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their target price on Microsoft from $506.00 to $548.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Wells Fargo & Company reaffirmed a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. Piper Sandler reissued an “overweight” rating and issued a $470.00 price target on shares of Microsoft in a report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price objective on shares of Microsoft from $470.00 to $465.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $500.00 target price on shares of Microsoft in a research note on Tuesday. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $503.03.

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.