TruWealth Advisors LLC boosted its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,158 shares of the software giant’s stock after purchasing an additional 1,514 shares during the period. Microsoft makes up about 2.3% of TruWealth Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. TruWealth Advisors LLC’s holdings in Microsoft were worth $21,464,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in MSFT. Monumental Financial Group Inc. purchased a new position in shares of Microsoft in the first quarter valued at $28,000. Newfound Research LLC lifted its holdings in Microsoft by 25.4% in the 2nd quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock worth $76,000 after buying an additional 60 shares in the last quarter. Darrow Company Inc. purchased a new position in Microsoft in the 2nd quarter valued at about $82,000. Morgan Dempsey Capital Management LLC acquired a new stake in shares of Microsoft during the third quarter valued at about $82,000. Finally, Avondale Wealth Management increased its position in shares of Microsoft by 58.6% during the third quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock worth $95,000 after acquiring an additional 150 shares during the last quarter. 69.15% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on MSFT. Jefferies Financial Group set a $270.00 price target on Microsoft in a report on Thursday, January 5th. Evercore ISI decreased their price target on shares of Microsoft from $300.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday. The Goldman Sachs Group set a $315.00 price target on shares of Microsoft in a report on Tuesday. Wolfe Research dropped their target price on shares of Microsoft from $340.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Finally, Raymond James decreased their price target on Microsoft from $300.00 to $280.00 and set an “outperform” rating for the company 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 given a buy rating to the company. According to MarketBeat, Microsoft has an average rating of “Moderate Buy” and a consensus target price of $288.33.
Microsoft Stock Down 1.6 %
Microsoft (NASDAQ:MSFT – Get Rating) last announced its earnings results on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, topping 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 firm had revenue of $50.12 billion for the quarter, compared to analysts’ expectations of $49.70 billion. During the same quarter in the previous year, the company earned $2.27 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts forecast that Microsoft Co. will post 9.52 earnings per share for the current fiscal year.
Microsoft Announces Dividend
The firm 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. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.17%. Microsoft’s payout ratio is currently 29.31%.
Insider Activity at Microsoft
In other Microsoft news, EVP Judson Althoff sold 24,144 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 150,047 shares of the company’s stock, valued at $38,152,450.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.
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