Concorde Asset Management LLC Grows Stock Position in Microsoft Co. (NASDAQ:MSFT)

Concorde Asset Management LLC grew its position in shares of Microsoft Co. (NASDAQ:MSFT) by 7.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,358 shares of the software giant’s stock after purchasing an additional 360 shares during the period. Microsoft makes up about 1.3% of Concorde Asset Management LLC’s investment portfolio, making the stock its 18th largest position. Concorde Asset Management LLC’s holdings in Microsoft were worth $2,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MSFT. Charles Schwab Investment Management Inc. increased its stake in shares of Microsoft by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,229,125 shares of the software giant’s stock worth $20,322,513,000 after buying an additional 652,493 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Microsoft by 48,526.1% in the 3rd quarter. International Assets Investment Management LLC now owns 38,501,645 shares of the software giant’s stock worth $16,567,258,000 after purchasing an additional 38,422,466 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Microsoft by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 34,511,544 shares of the software giant’s stock valued at $15,426,767,000 after buying an additional 97,075 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Microsoft by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 24,091,789 shares of the software giant’s stock valued at $10,768,771,000 after acquiring an additional 1,563,533 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Microsoft by 0.3% in the 3rd quarter. Swiss National Bank now owns 20,957,770 shares of the software giant’s stock worth $9,018,128,000 after buying an additional 57,800 shares during the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Microsoft Stock Up 2.9 %

Shares of MSFT stock opened at $447.24 on Wednesday. Microsoft Co. has a one year low of $385.58 and a one year high of $468.35. The stock has a market cap of $3.33 trillion, a P/E ratio of 36.90, a price-to-earnings-growth ratio of 2.40 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. The stock has a fifty day moving average price of $431.42 and a 200 day moving average price of $425.08.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.20. The business had revenue of $65.59 billion for the quarter, compared to analysts’ expectations of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.99 earnings per share. Analysts predict that Microsoft Co. will post 12.9 earnings per share for the current year.

Microsoft Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.83 dividend. The ex-dividend date is Thursday, February 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.74%. Microsoft’s payout ratio is presently 27.39%.

Insider Buying and Selling

In other news, EVP Christopher David Young sold 7,200 shares of Microsoft stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total value of $3,050,352.00. Following the completion of the sale, the executive vice president now directly owns 103,366 shares of the company’s stock, valued at approximately $43,792,039.56. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Takeshi Numoto sold 2,500 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $447.41, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,200 shares of company stock worth $17,383,892 in the last 90 days. 0.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on MSFT. Sanford C. Bernstein lowered their price objective on Microsoft from $501.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Guggenheim restated a “neutral” rating on shares of Microsoft in a report on Friday, January 24th. TD Cowen dropped their price target on Microsoft from $495.00 to $475.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Truist Financial reiterated a “buy” rating and issued a $600.00 target price on shares of Microsoft in a report on Monday, October 28th. Finally, Wedbush restated an “outperform” rating and set a $550.00 price target on shares of Microsoft in a report on Tuesday, November 19th. Three analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $512.66.

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.