Pitti Group Wealth Management LLC lifted its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 5.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,452 shares of the software giant’s stock after acquiring an additional 239 shares during the quarter. Microsoft accounts for 1.6% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Pitti Group Wealth Management LLC’s holdings in Microsoft were worth $1,373,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in MSFT. Joseph Group Capital Management acquired a new stake in Microsoft in the 4th quarter valued at about $1,535,000. Shore Point Advisors LLC purchased a new position in Microsoft in the fourth quarter valued at approximately $40,000. Tobam grew its position in shares of Microsoft by 15,400.0% in the 1st quarter. Tobam now owns 155 shares of the software giant’s stock valued at $48,000 after buying an additional 154 shares during the last quarter. Artemis Wealth Advisors LLC acquired a new position in Microsoft in the first quarter valued at $68,000. Finally, Evolution Advisers Inc. acquired a new position in Microsoft during the fourth quarter worth approximately $84,000. Institutional investors and hedge funds own 69.99% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Redburn Partners started coverage on shares of Microsoft in a research note on Wednesday, June 29th. They set a “buy” rating and a $370.00 target price for the company. KeyCorp dropped their price objective on Microsoft from $373.00 to $330.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. BMO Capital Markets lifted their price target on shares of Microsoft from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Citigroup dropped their price target on Microsoft from $330.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Finally, Royal Bank of Canada set a $380.00 target price on Microsoft in a research note on Thursday, May 19th. One analyst has rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $334.47.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Rating) last issued its earnings results on Tuesday, July 26th. The software giant reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.06). Microsoft had a net margin of 36.69% and a return on equity of 43.31%. During the same period last year, the company posted $2.17 earnings per share. On average, sell-side analysts predict that Microsoft Co. will post 10.14 earnings per share for the current fiscal year.
Microsoft Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Wednesday, August 17th. Microsoft’s dividend payout ratio (DPR) is presently 25.73%.
Microsoft Company Profile
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.
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