Confluence Wealth Services Inc. Sells 34 Shares of Microsoft Co. (NASDAQ:MSFT)

Confluence Wealth Services Inc. lessened its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,411 shares of the software giant’s stock after selling 34 shares during the quarter. Microsoft makes up approximately 1.6% of Confluence Wealth Services Inc.’s portfolio, making the stock its 15th largest holding. Confluence Wealth Services Inc.’s holdings in Microsoft were worth $24,752,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fiduciary Advisors Inc. bought a new position in shares of Microsoft in the 4th quarter valued at approximately $38,000. IFS Advisors LLC raised its position in shares of Microsoft by 53.8% in the fourth quarter. IFS Advisors LLC now owns 100 shares of the software giant’s stock valued at $42,000 after purchasing an additional 35 shares during the period. Avondale Wealth Management lifted its stake in shares of Microsoft by 144.4% in the fourth quarter. Avondale Wealth Management now owns 110 shares of the software giant’s stock worth $46,000 after buying an additional 65 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Microsoft during the 3rd quarter worth $62,000. Finally, Kieckhefer Group LLC acquired a new position in Microsoft in the 4th quarter valued at $141,000. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Stock Up 1.8 %

Shares of MSFT opened at $382.19 on Wednesday. The business’s 50 day simple moving average is $403.52 and its 200-day simple moving average is $418.45. Microsoft Co. has a one year low of $367.24 and a one year high of $468.35. The company has a market capitalization of $2.84 trillion, a P/E ratio of 30.77, a PEG ratio of 2.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, January 29th. The software giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.15 by $0.08. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. During the same quarter in the previous year, the firm earned $2.93 EPS. As a group, sell-side analysts predict that Microsoft Co. will post 13.08 EPS for the current fiscal year.

Microsoft Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.83 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.87%. Microsoft’s payout ratio is 26.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Westpark Capital began coverage on shares of Microsoft in a report on Tuesday. They set a “hold” rating for the company. Loop Capital increased their target price on Microsoft from $500.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $509.00 price target on shares of Microsoft in a research report on Wednesday, January 29th. Guggenheim reissued a “neutral” rating on shares of Microsoft in a research report on Friday, January 24th. Finally, Morgan Stanley cut their target price on shares of Microsoft from $540.00 to $530.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Microsoft has an average rating of “Moderate Buy” and a consensus target price of $508.86.

About Microsoft

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.