Evoke Wealth LLC Has $26.55 Million Stake in Microsoft Co. (NASDAQ:MSFT)

Evoke Wealth LLC grew its stake in Microsoft Co. (NASDAQ:MSFTGet Rating) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 103,360 shares of the software giant’s stock after purchasing an additional 5,662 shares during the period. Microsoft makes up approximately 1.0% of Evoke Wealth LLC’s portfolio, making the stock its 20th largest position. Evoke Wealth LLC’s holdings in Microsoft were worth $26,546,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MSFT. KRS Capital Management LLC lifted its position in shares of Microsoft by 4.8% during the 1st quarter. KRS Capital Management LLC now owns 4,781 shares of the software giant’s stock valued at $1,474,000 after buying an additional 218 shares during the last quarter. Phoenix Wealth Advisors increased its stake in shares of Microsoft by 2.0% in the second quarter. Phoenix Wealth Advisors now owns 17,286 shares of the software giant’s stock worth $4,440,000 after buying an additional 343 shares during the period. Jmac Enterprises LLC increased its position in shares of Microsoft by 1.0% during the second quarter. Jmac Enterprises LLC now owns 16,798 shares of the software giant’s stock valued at $4,314,000 after buying an additional 169 shares during the period. ARGI Investment Services LLC raised its position in Microsoft by 9.9% in the second quarter. ARGI Investment Services LLC now owns 37,326 shares of the software giant’s stock worth $9,586,000 after acquiring an additional 3,358 shares during the period. Finally, First PREMIER Bank boosted its stake in shares of Microsoft by 0.3% during the second quarter. First PREMIER Bank now owns 26,082 shares of the software giant’s stock valued at $6,699,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

MSFT has been the topic of several recent research reports. Evercore ISI lowered their price objective on Microsoft from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Piper Sandler lowered their price objective on Microsoft from $275.00 to $265.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Wedbush dropped their price objective on Microsoft from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Microsoft from $315.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Finally, Wells Fargo & Company lowered their target price on shares of Microsoft from $315.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Three investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $300.64.

Insider Buying and Selling

In other Microsoft news, CMO Christopher C. Capossela sold 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $29,244,101.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.03% of the stock is currently owned by insiders.

Microsoft Price Performance

NASDAQ:MSFT opened at $247.58 on Friday. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 2.36 and a beta of 0.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 1.84. The stock has a fifty day moving average of $237.12 and a 200 day moving average of $255.62. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $344.30.

Microsoft (NASDAQ:MSFTGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. The business had revenue of $50.12 billion during the quarter, compared to analysts’ expectations of $49.70 billion. Microsoft had a net margin of 34.37% and a return on equity of 42.10%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.27 EPS. On average, research analysts expect that Microsoft Co. will post 9.62 EPS for the current fiscal year.

Microsoft Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, November 16th. 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 1.10%. Microsoft’s payout ratio is currently 29.31%.

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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