Connecticut Wealth Management LLC Has $21.62 Million Stock Position in Microsoft Co. (NASDAQ:MSFT)

Connecticut Wealth Management LLC lifted its position in Microsoft Co. (NASDAQ:MSFT) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,378 shares of the software giant’s stock after buying an additional 626 shares during the quarter. Microsoft comprises 1.1% of Connecticut Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. Connecticut Wealth Management LLC’s holdings in Microsoft were worth $21,623,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rebalance LLC boosted its stake in Microsoft by 0.7% during the 2nd quarter. Rebalance LLC now owns 3,451 shares of the software giant’s stock worth $1,542,000 after acquiring an additional 24 shares during the last quarter. First National Bank Sioux Falls lifted its position in shares of Microsoft by 0.4% in the second quarter. First National Bank Sioux Falls now owns 6,340 shares of the software giant’s stock worth $2,834,000 after purchasing an additional 24 shares in the last quarter. Doheny Asset Management CA lifted its position in Microsoft by 0.4% during the 1st quarter. Doheny Asset Management CA now owns 6,397 shares of the software giant’s stock worth $2,691,000 after buying an additional 25 shares in the last quarter. Flagship Private Wealth LLC boosted its position in Microsoft by 2.8% during the second quarter. Flagship Private Wealth LLC now owns 913 shares of the software giant’s stock valued at $408,000 after purchasing an additional 25 shares during the last quarter. Finally, Massachusetts Wealth Management lifted its stake in Microsoft by 0.3% in the second quarter. Massachusetts Wealth Management now owns 9,640 shares of the software giant’s stock valued at $4,309,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 71.13% of the company’s stock.

Insider Buying and Selling

In other news, CFO Amy Hood sold 38,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $410.55, for a total transaction of $15,600,900.00. Following the completion of the sale, the chief financial officer now directly owns 496,369 shares of the company’s stock, valued at $203,784,292.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Amy Hood sold 38,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $410.55, for a total value of $15,600,900.00. Following the transaction, the chief financial officer now owns 496,369 shares in the company, valued at approximately $203,784,292.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Satya Nadella sold 14,398 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $417.41, for a total transaction of $6,009,869.18. Following the sale, the chief executive officer now directly owns 786,933 shares in the company, valued at approximately $328,473,703.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,629 shares of company stock worth $77,916,485. 0.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MSFT. Sanford C. Bernstein dropped their price objective on shares of Microsoft from $501.00 to $500.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. KeyCorp upped their target price on Microsoft from $490.00 to $505.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 price objective on shares of Microsoft in a research note on Tuesday. DA Davidson downgraded Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 target price for the company. in a research note on Monday, September 23rd. Finally, UBS Group cut their price objective on Microsoft from $510.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $503.03.

Microsoft Stock Up 1.2 %

MSFT stock opened at $425.43 on Friday. Microsoft Co. has a fifty-two week low of $360.36 and a fifty-two week high of $468.35. The stock’s 50 day simple moving average is $420.74 and its 200 day simple moving average is $424.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.29 and a current ratio of 1.30. The company has a market cap of $3.16 trillion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91.

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 $3.10 by $0.20. The company had revenue of $65.59 billion for the quarter, compared to analysts’ expectations of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. Microsoft’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.99 earnings per share. On average, research analysts expect that Microsoft Co. will post 12.95 earnings per share for the current fiscal year.

Microsoft declared that its board has authorized a share buyback plan on Monday, September 16th that authorizes the company to buyback $60.00 billion in shares. This buyback authorization authorizes the software giant to buy up to 1.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Microsoft Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.78%. This is an increase from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, November 21st. Microsoft’s dividend payout ratio (DPR) is presently 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.