Convergence Financial LLC Has $6.70 Million Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Convergence Financial LLC trimmed its holdings in Microsoft Co. (NASDAQ:MSFT) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,565 shares of the software giant’s stock after selling 488 shares during the period. Microsoft accounts for approximately 1.4% of Convergence Financial LLC’s holdings, making the stock its 20th largest position. Convergence Financial LLC’s holdings in Microsoft were worth $6,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rebalance LLC boosted its stake in shares of Microsoft by 0.7% in the 2nd quarter. Rebalance LLC now owns 3,451 shares of the software giant’s stock valued at $1,542,000 after purchasing an additional 24 shares in the last quarter. First National Bank Sioux Falls lifted its holdings in Microsoft by 0.4% during the 2nd quarter. First National Bank Sioux Falls now owns 6,340 shares of the software giant’s stock valued at $2,834,000 after purchasing an additional 24 shares during the last quarter. Flagship Private Wealth LLC boosted its position in Microsoft by 2.8% in the second quarter. Flagship Private Wealth LLC now owns 913 shares of the software giant’s stock valued at $408,000 after buying an additional 25 shares in the last quarter. Massachusetts Wealth Management grew its stake in Microsoft by 0.3% during the second quarter. Massachusetts Wealth Management now owns 9,640 shares of the software giant’s stock worth $4,309,000 after buying an additional 25 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of Microsoft by 0.8% during the second quarter. Deseret Mutual Benefit Administrators now owns 3,255 shares of the software giant’s stock worth $1,455,000 after buying an additional 25 shares in the last quarter. Institutional investors own 71.13% of the company’s stock.

Wall Street Analysts Forecast Growth

MSFT has been the topic of several recent analyst reports. Wells Fargo & Company reissued a “buy” rating on shares of Microsoft in a report on Friday, October 18th. Citigroup decreased their target price on Microsoft from $500.00 to $497.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Stifel Nicolaus raised their target price on Microsoft from $475.00 to $515.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. KeyCorp upped their price target on shares of Microsoft from $490.00 to $505.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, StockNews.com cut shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $508.46.

Microsoft Stock Performance

Shares of NASDAQ:MSFT opened at $436.60 on Monday. The firm’s 50 day simple moving average is $427.02 and its 200 day simple moving average is $428.42. Microsoft Co. has a fifty-two week low of $366.50 and a fifty-two week high of $468.35. The company has a market capitalization of $3.25 trillion, a price-to-earnings ratio of 36.02, a P/E/G ratio of 2.37 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.30 and a quick ratio of 1.29.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.20. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The company had revenue of $65.59 billion for the quarter, compared to analyst estimates of $64.57 billion. During the same period last year, the business posted $2.99 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Microsoft Co. will post 12.93 earnings per share for the current year.

Microsoft Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a $0.83 dividend. The ex-dividend date is Thursday, February 20th. This represents a $3.32 dividend on an annualized basis and a yield of 0.76%. Microsoft’s payout ratio is 27.39%.

Microsoft declared that its Board of Directors has authorized a share buyback program on Monday, September 16th that authorizes the company to repurchase $60.00 billion in shares. This repurchase authorization authorizes the software giant to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Microsoft

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