Centric Wealth Management Decreases Stake in Microsoft Co. (NASDAQ:MSFT)

Centric Wealth Management trimmed its holdings in Microsoft Co. (NASDAQ:MSFTGet Rating) by 5.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,113 shares of the software giant’s stock after selling 749 shares during the period. Microsoft accounts for about 1.1% of Centric Wealth Management’s holdings, making the stock its 11th biggest holding. Centric Wealth Management’s holdings in Microsoft were worth $3,111,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSFT. Soltis Investment Advisors LLC increased its stake in Microsoft by 7.7% during the fourth quarter. Soltis Investment Advisors LLC now owns 44,600 shares of the software giant’s stock worth $15,000,000 after acquiring an additional 3,195 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in Microsoft by 1.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 11,744 shares of the software giant’s stock valued at $3,950,000 after buying an additional 135 shares during the last quarter. Dana Investment Advisors Inc. increased its position in shares of Microsoft by 1.0% during the fourth quarter. Dana Investment Advisors Inc. now owns 250,299 shares of the software giant’s stock valued at $84,181,000 after acquiring an additional 2,533 shares during the last quarter. Gardner Lewis Asset Management L P raised its stake in shares of Microsoft by 19.4% in the 4th quarter. Gardner Lewis Asset Management L P now owns 43,096 shares of the software giant’s stock valued at $14,494,000 after acquiring an additional 7,014 shares during the period. Finally, Udine Wealth Management Inc. purchased a new stake in shares of Microsoft in the 4th quarter valued at approximately $8,479,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CMO Christopher C. Capossela sold 5,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $266.25, for a total value of $1,331,250.00. Following the completion of the transaction, the chief marketing officer now owns 109,837 shares in the company, valued at $29,244,101.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Cowen reduced their price target on shares of Microsoft from $330.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, July 22nd. Wells Fargo & Company reduced their price target on shares of Microsoft from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Itaú Unibanco began coverage on shares of Microsoft in a research note on Tuesday, July 26th. They issued an “outperform” rating and a $287.00 price target on the stock. Rosenblatt Securities cut their target price on shares of Microsoft from $349.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, July 26th. Finally, JPMorgan Chase & Co. set a $320.00 target price on shares of Microsoft in a research note on Thursday, June 9th. Two research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to data from MarketBeat.com, Microsoft currently has an average rating of “Moderate Buy” and an average price target of $334.31.

Microsoft Trading Down 0.3 %

NASDAQ:MSFT opened at $244.74 on Monday. The stock has a fifty day moving average price of $268.81 and a two-hundred day moving average price of $273.85. The stock has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 1.78. Microsoft Co. has a 1 year low of $241.51 and a 1 year high of $349.67.

Microsoft (NASDAQ:MSFTGet Rating) last released its quarterly earnings data 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 return on equity of 43.31% and a net margin of 36.69%. During the same period in the previous year, the firm posted $2.17 earnings per share. As a group, sell-side analysts anticipate that Microsoft Co. will post 10.14 earnings per share for the current fiscal year.

Microsoft Company Profile

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Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.

Further Reading

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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