Microsoft Co. (NASDAQ:MSFT) is Udine Wealth Management Inc.’s 3rd Largest Position

Udine Wealth Management Inc. grew its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,661 shares of the software giant’s stock after acquiring an additional 690 shares during the quarter. Microsoft comprises approximately 11.1% of Udine Wealth Management Inc.’s portfolio, making the stock its 3rd biggest position. Udine Wealth Management Inc.’s holdings in Microsoft were worth $15,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Rebalance LLC increased its holdings in Microsoft by 0.7% in the second quarter. Rebalance LLC now owns 3,451 shares of the software giant’s stock valued at $1,542,000 after buying an additional 24 shares during the last quarter. First National Bank Sioux Falls increased its position in Microsoft by 0.4% in the 2nd quarter. First National Bank Sioux Falls now owns 6,340 shares of the software giant’s stock valued at $2,834,000 after acquiring an additional 24 shares during the period. Doheny Asset Management CA increased its stake in Microsoft by 0.4% in the 1st quarter. Doheny Asset Management CA now owns 6,397 shares of the software giant’s stock valued at $2,691,000 after buying an additional 25 shares during the period. Flagship Private Wealth LLC increased its stake in shares of Microsoft by 2.8% during the second quarter. Flagship Private Wealth LLC now owns 913 shares of the software giant’s stock worth $408,000 after acquiring an additional 25 shares during the period. Finally, Massachusetts Wealth Management raised its stake in shares of Microsoft by 0.3% during the 2nd quarter. Massachusetts Wealth Management now owns 9,640 shares of the software giant’s stock worth $4,309,000 after buying an additional 25 shares in the last quarter. 71.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Christopher David Young sold 7,200 shares of Microsoft stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total value of $3,050,352.00. Following the completion of the sale, the executive vice president now owns 103,366 shares of the company’s stock, valued at $43,792,039.56. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amy Hood sold 38,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $410.55, for a total transaction of $15,600,900.00. Following the sale, the chief financial officer now directly owns 496,369 shares of the company’s stock, valued at approximately $203,784,292.95. The trade was a 7.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 183,431 shares of company stock valued at $74,956,968 over the last quarter. 0.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on MSFT shares. BMO Capital Markets cut their price objective on Microsoft from $500.00 to $495.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. UBS Group cut their price objective on Microsoft from $510.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $500.00 price target on shares of Microsoft in a research note on Tuesday, November 5th. JPMorgan Chase & Co. cut their target price on shares of Microsoft from $470.00 to $465.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein lowered their price objective on shares of Microsoft from $501.00 to $500.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $503.03.

Microsoft Stock Up 1.0 %

Microsoft stock opened at $417.00 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.10 trillion, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 2.19 and a beta of 0.91. The firm’s fifty day moving average price is $421.94 and its two-hundred day moving average price is $426.19. Microsoft Co. has a 1-year low of $362.90 and a 1-year high of $468.35.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.20. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The company had revenue of $65.59 billion during the quarter, compared to analyst estimates of $64.57 billion. During the same period last year, the business earned $2.99 earnings per share. Microsoft’s revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts predict that Microsoft Co. will post 12.93 earnings per share for the current fiscal year.

Microsoft announced that its Board of Directors has approved a stock repurchase program on Monday, September 16th that authorizes the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization authorizes the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Microsoft Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.83 per share. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, November 21st. Microsoft’s dividend payout ratio is currently 27.39%.

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.