Busey Wealth Management increased its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 474,393 shares of the software giant’s stock after acquiring an additional 5,729 shares during the quarter. Microsoft comprises about 5.5% of Busey Wealth Management’s investment portfolio, making the stock its 2nd largest holding. Busey Wealth Management’s holdings in Microsoft were worth $110,487,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of MSFT. Vanguard Group Inc. raised its position in Microsoft by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 621,598,157 shares of the software giant’s stock worth $191,644,927,000 after purchasing an additional 5,648,095 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Microsoft by 0.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 195,859,819 shares of the software giant’s stock valued at $50,302,677,000 after purchasing an additional 556,020 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Microsoft by 1.5% during the second quarter. Legal & General Group Plc now owns 54,799,110 shares of the software giant’s stock valued at $14,074,064,000 after buying an additional 784,656 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Microsoft by 2.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 40,130,443 shares of the software giant’s stock worth $10,306,701,000 after acquiring an additional 939,396 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Microsoft by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 39,863,273 shares of the software giant’s stock valued at $12,290,246,000 after purchasing an additional 766,487 shares during the last quarter. Institutional investors own 69.15% of the company’s stock.
Wall Street Analyst Weigh In
MSFT has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on Microsoft from $265.00 to $247.00 and set an “overweight” rating for the company in a research note on Monday, January 9th. JPMorgan Chase & Co. dropped their target price on shares of Microsoft from $305.00 to $275.00 in a research report on Wednesday, October 26th. Cowen lowered their price objective on shares of Microsoft from $310.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. StockNews.com lowered shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Guggenheim downgraded Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 price target on the stock. in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $288.33.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Rating) last issued its quarterly 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 net margin of 34.37% and a return on equity of 42.10%. The company had revenue of $50.12 billion for the quarter, compared to the consensus estimate of $49.70 billion. During the same period in the prior year, the firm posted $2.27 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Microsoft Co. will post 9.52 earnings per share for the current year.
Microsoft Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Wednesday, February 15th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.17%. Microsoft’s payout ratio is 29.31%.
Insider Transactions at Microsoft
In related news, EVP Judson Althoff sold 24,144 shares of Microsoft stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $254.27, for a total transaction of $6,139,094.88. Following the completion of the sale, the executive vice president now owns 150,047 shares in the company, valued at approximately $38,152,450.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.03% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Microsoft (MSFT)
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