Prestige Wealth Management Group LLC Has $11.68 Million Position in Microsoft Co. (NASDAQ:MSFT)

Prestige Wealth Management Group LLC decreased its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,153 shares of the software giant’s stock after selling 760 shares during the quarter. Microsoft accounts for approximately 2.4% of Prestige Wealth Management Group LLC’s holdings, making the stock its 11th biggest position. Prestige Wealth Management Group LLC’s holdings in Microsoft were worth $11,684,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Brophy Wealth Management LLC bought a new position in Microsoft during the third quarter valued at approximately $9,709,000. Vestcor Inc increased its stake in shares of Microsoft by 3.3% during the 3rd quarter. Vestcor Inc now owns 221,830 shares of the software giant’s stock worth $95,453,000 after purchasing an additional 7,188 shares during the last quarter. High Falls Advisors Inc raised its holdings in shares of Microsoft by 1.6% during the 3rd quarter. High Falls Advisors Inc now owns 8,427 shares of the software giant’s stock valued at $3,626,000 after purchasing an additional 129 shares in the last quarter. Conway Capital Management Inc. acquired a new stake in shares of Microsoft in the 3rd quarter valued at $4,637,000. Finally, Executive Wealth Management LLC bought a new stake in Microsoft in the third quarter worth $23,174,000. 71.13% of the stock is owned by hedge funds and other institutional investors.

Microsoft Stock Performance

Microsoft stock opened at $412.22 on Tuesday. Microsoft Co. has a 52-week low of $385.58 and a 52-week high of $468.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34. The stock has a fifty day moving average price of $431.44 and a two-hundred day moving average price of $423.41. The firm has a market capitalization of $3.06 trillion, a P/E ratio of 33.19, a P/E/G ratio of 2.21 and a beta of 0.90.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Wednesday, January 29th. The software giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.08. Microsoft had a net margin of 35.43% and a return on equity of 33.36%. During the same quarter in the prior year, the company posted $2.93 earnings per share. As a group, analysts anticipate that Microsoft Co. will post 13.07 EPS for the current fiscal year.

Microsoft Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a $0.83 dividend. The ex-dividend date is Thursday, February 20th. This represents a $3.32 annualized dividend and a yield of 0.81%. Microsoft’s payout ratio is 26.73%.

Insider Transactions at Microsoft

In other news, EVP Judson Althoff sold 25,000 shares of Microsoft stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $417.00, for a total value of $10,425,000.00. Following the completion of the sale, the executive vice president now directly owns 117,294 shares of the company’s stock, valued at approximately $48,911,598. This trade represents a 17.57 % 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 1,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $414.72, for a total value of $414,720.00. Following the transaction, the chief marketing officer now directly owns 57,511 shares in the company, valued at $23,850,961.92. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,000 shares of company stock worth $14,333,540. Insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MSFT shares. TD Cowen cut their target price on Microsoft from $495.00 to $475.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Guggenheim reaffirmed a “neutral” rating on shares of Microsoft in a research report on Friday, January 24th. KeyCorp lifted their price target on shares of Microsoft from $490.00 to $505.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Truist Financial reissued a “buy” rating and set a $600.00 target price on shares of Microsoft in a research report on Monday, October 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $509.00 price target on shares of Microsoft in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and a consensus price target of $510.96.

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.