BerganKDV Wealth Management LLC grew its position in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,872 shares of the software giant’s stock after acquiring an additional 1,000 shares during the quarter. Microsoft accounts for 1.1% of BerganKDV Wealth Management LLC’s portfolio, making the stock its 19th biggest holding. BerganKDV Wealth Management LLC’s holdings in Microsoft were worth $9,053,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Cherrydale Wealth Management LLC raised its stake in Microsoft by 2.6% during the third quarter. Cherrydale Wealth Management LLC now owns 4,618 shares of the software giant’s stock valued at $1,076,000 after purchasing an additional 116 shares in the last quarter. Madison Wealth Partners Inc lifted its holdings in shares of Microsoft by 2.0% in the 3rd quarter. Madison Wealth Partners Inc now owns 10,123 shares of the software giant’s stock valued at $2,358,000 after acquiring an additional 202 shares during the last quarter. Trevian Wealth Management LLC grew its position in Microsoft by 10.7% in the third quarter. Trevian Wealth Management LLC now owns 7,630 shares of the software giant’s stock worth $1,777,000 after acquiring an additional 738 shares in the last quarter. Miracle Mile Advisors LLC raised its position in Microsoft by 4.0% during the third quarter. Miracle Mile Advisors LLC now owns 249,225 shares of the software giant’s stock valued at $58,044,000 after purchasing an additional 9,675 shares during the period. Finally, Guinness Asset Management LTD lifted its stake in shares of Microsoft by 20.6% in the 3rd quarter. Guinness Asset Management LTD now owns 459,376 shares of the software giant’s stock valued at $107,010,000 after purchasing an additional 78,397 shares during the last quarter. 69.15% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts recently weighed in on MSFT shares. DA Davidson began coverage on Microsoft in a report on Wednesday, January 4th. They set a “buy” rating and a $270.00 price target on the stock. Wells Fargo & Company lowered their target price on shares of Microsoft from $315.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Microsoft from $315.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. Evercore ISI decreased their price objective on shares of Microsoft from $300.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Raymond James cut their target price on Microsoft from $300.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $288.33.
Microsoft Stock Down 1.6 %
Microsoft (NASDAQ:MSFT – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The software giant reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.06. The business had revenue of $50.12 billion for the quarter, compared to analyst estimates of $49.70 billion. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.27 earnings per share. On average, research analysts expect that Microsoft Co. will post 9.52 earnings per share for the current fiscal year.
Microsoft Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Wednesday, February 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, February 15th. Microsoft’s dividend payout ratio (DPR) is presently 29.31%.
Insider Buying and Selling
In other news, EVP Judson Althoff sold 24,144 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 150,047 shares of the company’s stock, valued at $38,152,450.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is currently owned by company insiders.
Microsoft Company Profile
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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