GoalFusion Wealth Management LLC increased its position in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 6.1% during the 3rd quarter, Holdings Channel reports. The firm owned 1,589 shares of the software giant’s stock after acquiring an additional 91 shares during the quarter. Microsoft comprises approximately 0.3% of GoalFusion Wealth Management LLC’s investment portfolio, making the stock its 12th largest holding. GoalFusion Wealth Management LLC’s holdings in Microsoft were worth $370,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Lockerman Financial Group Inc. grew its stake in Microsoft by 8.1% in the third quarter. Lockerman Financial Group Inc. now owns 3,485 shares of the software giant’s stock worth $812,000 after purchasing an additional 261 shares in the last quarter. Willner & Heller LLC grew its stake in Microsoft by 3.2% in the third quarter. Willner & Heller LLC now owns 7,493 shares of the software giant’s stock worth $1,745,000 after purchasing an additional 234 shares in the last quarter. Clay Northam Wealth Management LLC grew its stake in Microsoft by 2.5% in the third quarter. Clay Northam Wealth Management LLC now owns 14,739 shares of the software giant’s stock worth $3,433,000 after purchasing an additional 360 shares in the last quarter. Dfpg Investments LLC grew its stake in Microsoft by 7.0% in the third quarter. Dfpg Investments LLC now owns 31,803 shares of the software giant’s stock worth $7,700,000 after purchasing an additional 2,068 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. grew its stake in Microsoft by 0.7% in the third quarter. McKinley Carter Wealth Services Inc. now owns 42,102 shares of the software giant’s stock worth $9,805,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 69.15% of the company’s stock.
Insiders Place Their Bets
In other Microsoft 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 transaction of $6,139,094.88. Following the sale, the executive vice president now directly owns 150,047 shares of the company’s stock, valued at approximately $38,152,450.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is owned by insiders.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The software giant reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.06. The company had revenue of $50.12 billion for the quarter, compared to the consensus estimate of $49.70 billion. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $2.27 EPS. As a group, research analysts expect that Microsoft Co. will post 9.52 earnings per share for the current year.
Microsoft Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Wednesday, February 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, February 15th. Microsoft’s dividend payout ratio is currently 29.31%.
Analysts Set New Price Targets
Several brokerages recently issued reports on MSFT. Royal Bank of Canada set a $285.00 price objective on Microsoft in a research note on Wednesday. Stifel Nicolaus lowered their target price on Microsoft from $300.00 to $290.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Jefferies Financial Group set a $270.00 target price on Microsoft in a report on Thursday, January 5th. Wolfe Research lowered their target price on Microsoft from $340.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Finally, Macquarie began coverage on Microsoft in a report on Wednesday, November 2nd. They set a “neutral” rating and a $234.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $287.88.
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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