Microsoft Co. (NASDAQ:MSFT) is Freestone Capital Holdings LLC’s 3rd Largest Position

Posted by MarketBeat News on Mar 8th, 2023

Freestone Capital Holdings LLC cut its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 418,240 shares of the software giant’s stock after selling 31,022 shares during the period. Microsoft makes up approximately 4.4% of Freestone Capital Holdings LLC’s holdings, making the stock its 3rd largest holding. Freestone Capital Holdings LLC’s holdings in Microsoft were worth $97,408,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MSFT. Phoenix Wealth Advisors increased its stake in shares of Microsoft by 2.0% during the 2nd quarter. Phoenix Wealth Advisors now owns 17,286 shares of the software giant’s stock worth $4,440,000 after purchasing an additional 343 shares in the last quarter. ICICI Prudential Asset Management Co Ltd increased its stake in shares of Microsoft by 199.7% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 107,705 shares of the software giant’s stock worth $25,356,000 after purchasing an additional 71,769 shares in the last quarter. Seascape Capital Management increased its stake in shares of Microsoft by 41.9% during the 3rd quarter. Seascape Capital Management now owns 2,908 shares of the software giant’s stock worth $677,000 after purchasing an additional 858 shares in the last quarter. Verity & Verity LLC increased its stake in shares of Microsoft by 6.4% during the 2nd quarter. Verity & Verity LLC now owns 67,872 shares of the software giant’s stock worth $17,432,000 after purchasing an additional 4,081 shares in the last quarter. Finally, BlackDiamond Wealth Management Inc. increased its stake in shares of Microsoft by 9.2% during the 3rd quarter. BlackDiamond Wealth Management Inc. now owns 7,751 shares of the software giant’s stock worth $1,943,000 after purchasing an additional 650 shares in the last quarter. 69.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MSFT. Barclays dropped their price objective on shares of Microsoft from $296.00 to $280.00 and set an “overweight” rating for the company in a research note on Tuesday, January 10th. Raymond James lowered their target price on shares of Microsoft from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 25th. Wedbush lifted their target price on shares of Microsoft from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Rosenblatt Securities lowered their target price on shares of Microsoft from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, January 26th. Finally, JPMorgan Chase & Co. set a $305.00 target price on shares of Microsoft and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $285.58.

Insiders Place Their Bets

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

Microsoft Stock Performance

Shares of MSFT stock opened at $254.15 on Wednesday. Microsoft Co. has a 12 month low of $213.43 and a 12 month high of $315.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.89. The firm has a market capitalization of $1.89 trillion, a P/E ratio of 28.24, a P/E/G ratio of 2.34 and a beta of 0.92. The company’s fifty day moving average price is $247.92 and its two-hundred day moving average price is $245.85.

Microsoft (NASDAQ:MSFT – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The software giant reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.05. Microsoft had a net margin of 33.05% and a return on equity of 39.87%. The firm had revenue of $52.75 billion for the quarter, compared to analyst estimates of $53.17 billion. During the same quarter in the previous year, the business posted $2.48 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that Microsoft Co. will post 9.34 earnings per share for the current fiscal year.

Microsoft Profile

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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.