Innova Wealth Partners Buys 100 Shares of Microsoft Co. (NASDAQ:MSFT)

Innova Wealth Partners boosted its holdings in shares of Microsoft Co. (NASDAQ:MSFTGet Rating) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,968 shares of the software giant’s stock after purchasing an additional 100 shares during the quarter. Microsoft comprises approximately 0.9% of Innova Wealth Partners’ holdings, making the stock its 12th largest position. Innova Wealth Partners’ holdings in Microsoft were worth $1,019,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harrison & Co Wealth Management LLC boosted its stake in Microsoft by 3.0% during the 2nd quarter. Harrison & Co Wealth Management LLC now owns 3,165 shares of the software giant’s stock valued at $813,000 after purchasing an additional 92 shares during the period. Glassy Mountain Advisors Inc. boosted its stake in Microsoft by 3.0% during the 2nd quarter. Glassy Mountain Advisors Inc. now owns 35,509 shares of the software giant’s stock valued at $9,120,000 after purchasing an additional 1,033 shares during the period. Carmel Capital Partners LLC boosted its stake in Microsoft by 17.1% during the 2nd quarter. Carmel Capital Partners LLC now owns 2,321 shares of the software giant’s stock valued at $596,000 after purchasing an additional 339 shares during the period. Aletheian Wealth Advisors LLC boosted its stake in Microsoft by 14.0% during the 2nd quarter. Aletheian Wealth Advisors LLC now owns 5,886 shares of the software giant’s stock valued at $1,512,000 after purchasing an additional 722 shares during the period. Finally, EWG Elevate Inc. boosted its stake in Microsoft by 1.1% during the 2nd quarter. EWG Elevate Inc. now owns 5,089 shares of the software giant’s stock valued at $1,307,000 after purchasing an additional 53 shares during the period. Institutional investors own 69.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. KeyCorp cut their price target on Microsoft from $373.00 to $330.00 and set an “overweight” rating for the company in a report on Thursday, July 7th. Jefferies Financial Group set a $320.00 price target on Microsoft in a report on Tuesday, September 6th. Wolfe Research cut their price target on Microsoft from $320.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, July 29th. Citigroup cut their price target on Microsoft from $330.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Finally, Itaú Unibanco assumed coverage on Microsoft in a report on Tuesday, July 26th. They issued an “outperform” rating and a $287.00 price target for the company. Three investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $332.77.

Insider Transactions at Microsoft

In related 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 transaction of $1,331,250.00. Following the sale, the chief marketing officer now owns 109,837 shares of the company’s stock, valued at approximately $29,244,101.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.05% of the stock is owned by corporate insiders.

Microsoft Stock Up 0.8 %

NASDAQ:MSFT opened at $240.98 on Friday. Microsoft Co. has a 12-month low of $237.57 and a 12-month high of $349.67. The company has a quick ratio of 1.75, a current ratio of 1.78 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.80 trillion, a P/E ratio of 25.00, a P/E/G ratio of 2.04 and a beta of 0.94. The stock’s fifty day simple moving average is $267.65 and its 200-day simple moving average is $272.65.

Microsoft (NASDAQ:MSFTGet Rating) last posted 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 $2.28 by ($0.05). Microsoft had a return on equity of 43.31% and a net margin of 36.69%. The company had revenue of $51.87 billion during the quarter, compared to the consensus estimate of $52.31 billion. During the same quarter in the prior year, the business earned $2.17 earnings per share. Equities research analysts expect that Microsoft Co. will post 10.15 earnings per share for the current year.

Microsoft Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be given a $0.68 dividend. This is a positive change from Microsoft’s previous quarterly dividend of $0.62. This represents a $2.72 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Wednesday, November 16th. Microsoft’s dividend payout ratio (DPR) is currently 25.73%.

About Microsoft

(Get Rating)

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.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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