Abundance Wealth Counselors increased its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 46.4% in the 1st quarter, HoldingsChannel reports. The firm owned 16,615 shares of the software giant’s stock after purchasing an additional 5,265 shares during the period. Microsoft makes up 1.4% of Abundance Wealth Counselors’ investment portfolio, making the stock its 11th biggest position. Abundance Wealth Counselors’ holdings in Microsoft were worth $5,123,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of MSFT. Norges Bank purchased a new stake in Microsoft during the 4th quarter worth about $24,401,940,000. Allspring Global Investments Holdings LLC purchased a new stake in Microsoft during the 4th quarter worth about $2,952,329,000. State Street Corp lifted its holdings in Microsoft by 2.8% during the 4th quarter. State Street Corp now owns 302,541,869 shares of the software giant’s stock worth $101,750,881,000 after buying an additional 8,108,943 shares during the last quarter. Castleview Partners LLC purchased a new stake in shares of Microsoft in the 4th quarter valued at about $11,872,000. Finally, TD Asset Management Inc. lifted its holdings in shares of Microsoft by 28.5% in the 4th quarter. TD Asset Management Inc. now owns 14,476,729 shares of the software giant’s stock valued at $4,868,814,000 after purchasing an additional 3,207,415 shares during the last quarter. 69.99% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on MSFT. Evercore ISI reduced their target price on Microsoft from $370.00 to $330.00 and set an “inline” rating for the company in a report on Wednesday, April 27th. BMO Capital Markets boosted their target price on Microsoft from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. KeyCorp reduced their price objective on Microsoft from $373.00 to $330.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Piper Sandler reduced their price objective on Microsoft from $352.00 to $312.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Finally, Cowen reduced their price objective on Microsoft from $330.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, July 22nd. One investment analyst has rated the stock with a hold rating and thirty-one have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $335.72.
Microsoft Trading Down 0.3 %
Microsoft (NASDAQ:MSFT – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The software giant reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earned $2.17 earnings per share. On average, equities research analysts forecast that Microsoft Co. will post 10.14 earnings per share for the current year.
Microsoft Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $2.48 annualized dividend and a yield of 0.88%. Microsoft’s dividend payout ratio is currently 25.73%.
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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