Fort Pitt Capital Group LLC Has $79.66 Million Holdings in Microsoft Co. (NASDAQ:MSFT)

Fort Pitt Capital Group LLC reduced its position in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 342,042 shares of the software giant’s stock after selling 16,304 shares during the quarter. Microsoft accounts for about 3.7% of Fort Pitt Capital Group LLC’s investment portfolio, making the stock its 3rd biggest holding. Fort Pitt Capital Group LLC’s holdings in Microsoft were worth $79,662,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Monumental Financial Group Inc. bought a new stake in shares of Microsoft in the first quarter worth approximately $28,000. Hanseatic Management Services Inc. grew its stake in shares of Microsoft by 71.4% in the third quarter. Hanseatic Management Services Inc. now owns 132 shares of the software giant’s stock worth $31,000 after acquiring an additional 55 shares during the period. Morgan Dempsey Capital Management LLC bought a new stake in shares of Microsoft in the third quarter worth approximately $82,000. Avondale Wealth Management grew its stake in shares of Microsoft by 58.6% in 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 period. Finally, Grayhawk Investment Strategies Inc. bought a new stake in shares of Microsoft in the second quarter worth approximately $104,000. 69.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MSFT. DA Davidson lifted their price target on shares of Microsoft from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Mizuho raised their price objective on shares of Microsoft from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Barclays dropped their price objective on shares of Microsoft from $296.00 to $280.00 and set an “overweight” rating on the stock in a report on Tuesday, January 10th. Piper Sandler raised their price objective on shares of Microsoft from $247.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Finally, Guggenheim downgraded shares of Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 price objective on the stock. in a report on Tuesday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $285.58.

Insider Buying and Selling at Microsoft

In other Microsoft news, CMO Christopher C. Capossela sold 1,000 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $272.32, for a total transaction of $272,320.00. Following the transaction, the chief marketing officer now owns 116,362 shares in the company, valued at $31,687,699.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Microsoft news, CEO Satya Nadella sold 4,767 shares of the business’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $248.88, for a total transaction of $1,186,410.96. Following the transaction, the chief executive officer now owns 788,625 shares in the company, valued at $196,272,990. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Christopher C. Capossela sold 1,000 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $272.32, for a total transaction of $272,320.00. Following the transaction, the chief marketing officer now owns 116,362 shares in the company, valued at approximately $31,687,699.84. The disclosure for this sale can be found here. Insiders have sold 6,767 shares of company stock worth $1,728,111 over the last quarter. Insiders own 0.03% of the company’s stock.

Microsoft Trading Up 1.7 %

Shares of MSFT opened at $255.29 on Friday. The company’s fifty day moving average is $247.21 and its 200 day moving average is $246.94. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $315.95. The stock has a market capitalization of $1.90 trillion, a PE ratio of 28.37, a P/E/G ratio of 2.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.89 and a current ratio of 1.93.

Microsoft (NASDAQ:MSFT – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The software giant reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.05. Microsoft had a net margin of 33.05% and a return on equity of 39.87%. The company had revenue of $52.75 billion for the quarter, compared to analysts’ expectations of $53.17 billion. During the same quarter in the previous year, the business posted $2.48 earnings per share. Microsoft’s quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts expect that Microsoft Co. will post 9.34 earnings per share for the current fiscal year.

About Microsoft

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Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment consists of Office Commercial (Office 365 subscriptions, the Office 365 portion of Microsoft 365 Commercial subscriptions, and Office licensed on-premises), Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, Office Consumer, including Microsoft 365 Consumer subscriptions, Office licensed on-premises, and other Office services, LinkedIn, including Talent Solutions, Marketing Solutions, Premium Subscriptions, Sales Solutions, and Learning Solutions, Dynamics business solutions, including Dynamics 365, comprising a set of intelligent, cloud-based applications across ERP, CRM, Customer Insights, Power Apps, and Power Automate, and on-premises ERP and CRM applications.