Pine Harbor Wealth Management LLC Raises Stake in Microsoft Co. (NASDAQ:MSFT)

Pine Harbor Wealth Management LLC grew its position in shares of Microsoft Co. (NASDAQ:MSFT) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,308 shares of the software giant’s stock after acquiring an additional 210 shares during the quarter. Microsoft accounts for approximately 3.0% of Pine Harbor Wealth Management LLC’s portfolio, making the stock its 9th largest holding. Pine Harbor Wealth Management LLC’s holdings in Microsoft were worth $5,054,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MSFT. Future Financial Wealth Managment LLC grew its stake in Microsoft by 3.7% in the 1st quarter. Future Financial Wealth Managment LLC now owns 2,907 shares of the software giant’s stock valued at $1,223,000 after purchasing an additional 103 shares during the period. Sovereign Financial Group Inc. boosted its holdings in shares of Microsoft by 6.0% in the 1st quarter. Sovereign Financial Group Inc. now owns 13,682 shares of the software giant’s stock worth $5,756,000 after buying an additional 779 shares during the last quarter. Sunpointe LLC boosted its holdings in shares of Microsoft by 1.9% in the 1st quarter. Sunpointe LLC now owns 13,503 shares of the software giant’s stock worth $5,681,000 after buying an additional 254 shares during the last quarter. GoalVest Advisory LLC grew its position in Microsoft by 22.1% during the first quarter. GoalVest Advisory LLC now owns 11,619 shares of the software giant’s stock valued at $4,888,000 after buying an additional 2,104 shares during the period. Finally, Aletheian Wealth Advisors LLC increased its holdings in Microsoft by 60.0% during the first quarter. Aletheian Wealth Advisors LLC now owns 13,591 shares of the software giant’s stock worth $5,718,000 after buying an additional 5,097 shares during the last quarter. Institutional investors own 71.13% of the company’s stock.

Microsoft Stock Down 6.1 %

Shares of NASDAQ MSFT opened at $406.35 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $420.82 and a 200-day moving average of $424.58. The firm has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.24 and a beta of 0.90. Microsoft Co. has a 12 month low of $334.69 and a 12 month high of $468.35.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.22. The business had revenue of $65.59 billion during the quarter, compared to analyst estimates of $64.57 billion. Microsoft had a net margin of 35.96% and a return on equity of 35.95%. Microsoft’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.99 earnings per share. Sell-side analysts expect that Microsoft Co. will post 13.02 earnings per share for the current fiscal year.

Microsoft announced that its Board of Directors has authorized a stock repurchase plan on Monday, September 16th that authorizes the company to buyback $60.00 billion in shares. This buyback authorization authorizes the software giant to purchase up to 1.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Microsoft Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Thursday, November 21st. This is a boost from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s dividend payout ratio is currently 28.11%.

Insider Buying and Selling at Microsoft

In other news, CMO Takeshi Numoto sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $411.04, for a total value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Bradford L. Smith sold 40,000 shares of Microsoft stock in a transaction on 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 transaction, the insider now owns 544,847 shares in the company, valued at $219,349,953.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Takeshi Numoto sold 2,500 shares of the company’s stock in a transaction dated 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 sale, the chief marketing officer now owns 50,000 shares of the company’s stock, valued at approximately $20,552,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 190,629 shares of company stock worth $77,916,485 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

MSFT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped 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. Bank of America upped their price objective on Microsoft from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. KeyCorp increased their price objective on Microsoft from $490.00 to $505.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Truist Financial restated a “buy” rating and issued a $600.00 target price on shares of Microsoft in a research note on Monday. Finally, Sanford C. Bernstein decreased their price objective on Microsoft from $501.00 to $500.00 and set an “outperform” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.