Heritage Wealth Management Inc. Sells 1,093 Shares of Microsoft Co. (NASDAQ:MSFT)

Heritage Wealth Management Inc. lessened its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,283 shares of the software giant’s stock after selling 1,093 shares during the quarter. Microsoft comprises about 5.5% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Heritage Wealth Management Inc.’s holdings in Microsoft were worth $16,904,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MSFT. International Assets Investment Management LLC increased its stake in shares of Microsoft by 48,526.1% during the third quarter. International Assets Investment Management LLC now owns 38,501,645 shares of the software giant’s stock valued at $16,567,258,000 after acquiring an additional 38,422,466 shares during the period. Wulff Hansen & CO. increased its stake in shares of Microsoft by 47,196.6% during the second quarter. Wulff Hansen & CO. now owns 4,834,658 shares of the software giant’s stock valued at $2,160,850,000 after acquiring an additional 4,824,436 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Microsoft by 67.5% during the third quarter. Assenagon Asset Management S.A. now owns 5,963,863 shares of the software giant’s stock valued at $2,566,250,000 after acquiring an additional 2,404,348 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of Microsoft by 56.9% during the third quarter. AustralianSuper Pty Ltd now owns 5,344,566 shares of the software giant’s stock valued at $2,299,767,000 after acquiring an additional 1,938,304 shares during the period. Finally, Strategic Financial Concepts LLC increased its stake in shares of Microsoft by 31,648.5% during the second quarter. Strategic Financial Concepts LLC now owns 1,871,892 shares of the software giant’s stock valued at $8,366,000 after acquiring an additional 1,865,996 shares during the period. Institutional investors and hedge funds own 71.13% of the company’s stock.

Wall Street Analyst Weigh In

MSFT has been the topic of a number of research analyst reports. Mizuho raised their price objective on shares of Microsoft from $480.00 to $510.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. StockNews.com upgraded shares of Microsoft from a “hold” rating to a “buy” rating in a report on Monday, January 6th. KeyCorp raised their target price on shares of Microsoft from $490.00 to $505.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Morgan Stanley raised their target price on shares of Microsoft from $506.00 to $548.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Oppenheimer cut shares of Microsoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $511.62.

Insider Activity

In related news, CMO Takeshi Numoto sold 2,500 shares of Microsoft stock in a transaction on Monday, December 9th. The shares were sold at an average price of $447.41, for a total value of $1,118,525.00. Following the transaction, the chief marketing officer now owns 49,352 shares in the company, valued at $22,080,578.32. This trade represents a 4.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Judson Althoff sold 25,000 shares of Microsoft stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $417.00, for a total transaction of $10,425,000.00. Following the completion of the transaction, the executive vice president now owns 117,294 shares in the company, valued at $48,911,598. This trade represents a 17.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,200 shares of company stock worth $17,383,892. 0.03% of the stock is owned by corporate insiders.

Microsoft Trading Down 1.3 %

Shares of NASDAQ:MSFT opened at $418.95 on Friday. The firm has a fifty day moving average of $428.83 and a two-hundred day moving average of $427.53. The firm has a market capitalization of $3.11 trillion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. Microsoft Co. has a 12-month low of $380.38 and a 12-month high of $468.35. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 0.15.

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

Microsoft Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.83 per share. The ex-dividend date is Thursday, February 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.79%. Microsoft’s dividend payout ratio is currently 27.39%.

Microsoft declared that its Board of Directors has approved a stock repurchase program on Monday, September 16th that permits the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization permits the software giant to buy up to 1.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.