Pettinga Financial Advisors LLC Has $917,000 Stake in Microsoft Co. (NASDAQ:MSFT)

Pettinga Financial Advisors LLC trimmed its position in shares of Microsoft Co. (NASDAQ:MSFTGet Rating) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,936 shares of the software giant’s stock after selling 81 shares during the period. Pettinga Financial Advisors LLC’s holdings in Microsoft were worth $917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Monumental Financial Group Inc. bought a new position in Microsoft during the first quarter worth $28,000. Newfound Research LLC boosted its position in Microsoft by 25.4% during the second quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock worth $76,000 after purchasing an additional 60 shares during the period. Darrow Company Inc. bought a new position in Microsoft during the second quarter worth $82,000. Morgan Dempsey Capital Management LLC bought a new stake in shares of Microsoft in the third quarter valued at about $82,000. Finally, Avondale Wealth Management boosted its position in shares of Microsoft by 58.6% in the third quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock valued at $95,000 after acquiring an additional 150 shares during the period. 69.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group set a $250.00 target price on shares of Microsoft in a research report on Thursday. Piper Sandler reduced their target price on shares of Microsoft from $265.00 to $247.00 and set an “overweight” rating for the company in a research report on Monday, January 9th. Rosenblatt Securities reduced their target price on shares of Microsoft from $300.00 to $285.00 and set a “buy” rating for the company in a research report on Thursday, October 27th. Cowen reduced their target price on shares of Microsoft from $310.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Finally, DA Davidson started coverage on shares of Microsoft in a research report on Wednesday, January 4th. They set a “buy” rating and a $270.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $293.09.

Insider Activity at Microsoft

In related news, EVP Judson Althoff sold 24,144 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $254.27, for a total value of $6,139,094.88. Following the sale, the executive vice president now directly owns 150,047 shares in the company, valued at $38,152,450.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.03% of the stock is currently owned by company insiders.

Microsoft Stock Performance

Microsoft stock opened at $239.23 on Friday. The business has a 50 day moving average of $241.38 and a 200-day moving average of $250.83. Microsoft Co. has a 1 year low of $213.43 and a 1 year high of $315.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.84 and a quick ratio of 1.79. The company has a market capitalization of $1.78 trillion, a P/E ratio of 25.78, a P/E/G ratio of 2.23 and a beta of 0.94.

Microsoft (NASDAQ:MSFTGet Rating) last announced its earnings results on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, beating the consensus estimate of $2.29 by $0.06. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The business had revenue of $50.12 billion for the quarter, compared to analysts’ expectations of $49.70 billion. During the same period in the prior year, the business posted $2.27 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. On average, equities research analysts predict that Microsoft Co. will post 9.52 earnings per share for the current year.

Microsoft Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Investors of record on Wednesday, February 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.14%. The ex-dividend date is Wednesday, February 15th. Microsoft’s payout ratio is presently 29.31%.

Microsoft 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.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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