Mattern Wealth Management LLC Decreases Position in Microsoft Co. (NASDAQ:MSFT)

Mattern Wealth Management LLC cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,964 shares of the software giant’s stock after selling 1,205 shares during the quarter. Microsoft accounts for about 6.6% of Mattern Wealth Management LLC’s holdings, making the stock its 2nd biggest holding. Mattern Wealth Management LLC’s holdings in Microsoft were worth $27,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MSFT. Neo Ivy Capital Management purchased a new position in shares of Microsoft during the 4th quarter valued at about $58,000. Richardson Capital Management LLC grew its position in Microsoft by 1,290.0% during the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock valued at $59,000 after acquiring an additional 129 shares during the last quarter. PayPay Securities Corp raised its stake in shares of Microsoft by 23.7% during the fourth quarter. PayPay Securities Corp now owns 188 shares of the software giant’s stock worth $71,000 after acquiring an additional 36 shares in the last quarter. Bellevue Group AG lifted its holdings in shares of Microsoft by 47.5% in the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after acquiring an additional 58 shares during the last quarter. Finally, Horizon Financial Services LLC purchased a new stake in shares of Microsoft in the 1st quarter valued at $80,000. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Microsoft Price Performance

Shares of MSFT stock opened at $427.00 on Friday. The business’s fifty day moving average is $424.24 and its 200 day moving average is $423.09. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.17 trillion, a price-to-earnings ratio of 36.97, a PEG ratio of 2.03 and a beta of 0.90. Microsoft Co. has a twelve month low of $309.45 and a twelve month high of $468.35.

Microsoft (NASDAQ:MSFT) last released its earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.05. Microsoft had a net margin of 35.96% and a return on equity of 35.95%. The firm had revenue of $64.73 billion for the quarter, compared to the consensus estimate of $64.38 billion. During the same period in the prior year, the firm earned $2.69 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. Research analysts expect that Microsoft Co. will post 13.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on MSFT shares. Wells Fargo & Company lifted their target price on shares of Microsoft from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and issued a $550.00 price objective on shares of Microsoft in a report on Wednesday, July 31st. Oppenheimer increased their target price on Microsoft from $450.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, June 7th. UBS Group decreased their price target on Microsoft from $520.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Macquarie increased their price objective on Microsoft from $460.00 to $475.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Two research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Microsoft presently has a consensus rating of “Moderate Buy” and an average target price of $494.72.

Insider Buying and Selling at Microsoft

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 value of $16,103,600.00. Following the sale, the insider now directly owns 544,847 shares of the company’s stock, valued at approximately $219,349,953.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Bradford L. Smith sold 40,000 shares of the firm’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 transaction, the insider now owns 544,847 shares of the company’s stock, valued at approximately $219,349,953.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Satya Nadella sold 78,353 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total value of $32,017,386.39. Following the completion of the sale, the chief executive officer now directly owns 864,327 shares in the company, valued at $353,189,942.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 190,629 shares of company stock valued at $77,916,485. Corporate insiders own 0.03% of the company’s stock.

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.