Consolidated Planning Corp Reduces Holdings in Microsoft Corporation (NASDAQ:MSFT)

Key Points

• Consolidated Planning Corp has reduced its holdings in Microsoft Corporation (MSFT) by 27.9%, now owning 29,940 shares worth approximately $11.24 million.
• Several hedge funds have adjusted their positions in Microsoft, with a collective ownership of 71.13% of the company's stock among institutional investors.
• Microsoft's recent earnings report exceeded analysts' expectations, with $76.44 billion in revenue for the quarter, up 18.1% from the previous year, and an EPS of $3.65.

Consolidated Planning Corp reduced its holdings in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) by 27.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,940 shares of the software giant's stock after selling 11,603 shares during the quarter. Microsoft makes up 1.5% of Consolidated Planning Corp's investment portfolio, making the stock its 14th largest position. Consolidated Planning Corp's holdings in Microsoft were worth $11,239,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MSFT. Fosun International Ltd grew its holdings in shares of Microsoft by 0.3% during the first quarter. Fosun International Ltd now owns 6,633 shares of the software giant's stock worth $2,490,000 after buying an additional 23 shares in the last quarter. Retirement Financial Solutions LLC grew its holdings in Microsoft by 2.3% in the fourth quarter. Retirement Financial Solutions LLC now owns 1,050 shares of the software giant's stock valued at $443,000 after purchasing an additional 24 shares during the period. Kuhn & Co Investment Counsel grew its holdings in Microsoft by 0.8% in the fourth quarter. Kuhn & Co Investment Counsel now owns 3,286 shares of the software giant's stock valued at $1,385,000 after purchasing an additional 25 shares during the period. Alliance Wealth Management Group grew its holdings in Microsoft by 0.4% in the fourth quarter. Alliance Wealth Management Group now owns 5,617 shares of the software giant's stock valued at $2,368,000 after purchasing an additional 25 shares during the period. Finally, Guidance Point Advisors LLC grew its holdings in Microsoft by 0.6% in the fourth quarter. Guidance Point Advisors LLC now owns 4,294 shares of the software giant's stock valued at $1,811,000 after purchasing an additional 25 shares during the period. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MSFT has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on shares of Microsoft from $600.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday. TD Cowen boosted their target price on shares of Microsoft from $580.00 to $640.00 and gave the company a "buy" rating in a report on Thursday. Mizuho boosted their target price on shares of Microsoft from $540.00 to $625.00 and gave the company an "outperform" rating in a report on Thursday. Scotiabank boosted their target price on shares of Microsoft from $500.00 to $650.00 and gave the company a "sector outperform" rating in a report on Thursday. Finally, Guggenheim restated a "neutral" rating on shares of Microsoft in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $609.86.

Microsoft Trading Down 1.8%

NASDAQ MSFT opened at $524.11 on Friday. The company's fifty day simple moving average is $489.94 and its 200-day simple moving average is $434.88. Microsoft Corporation has a 52 week low of $344.79 and a 52 week high of $555.45. The company has a current ratio of 1.35, a quick ratio of 1.36 and a debt-to-equity ratio of 0.12. The stock has a market cap of $3.90 trillion, a P/E ratio of 38.42, a PEG ratio of 2.39 and a beta of 1.06.

Microsoft (NASDAQ:MSFT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The software giant reported $3.65 EPS for the quarter, topping analysts' consensus estimates of $3.35 by $0.30. The business had revenue of $76.44 billion for the quarter, compared to analysts' expectations of $73.79 billion. Microsoft had a net margin of 36.15% and a return on equity of 32.44%. The business's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 earnings per share. Equities research analysts predict that Microsoft Corporation will post 13.08 EPS for the current fiscal year.

Microsoft Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $3.32 annualized dividend and a yield of 0.6%. Microsoft's dividend payout ratio is currently 24.34%.

Insider Transactions at Microsoft

In related news, EVP Judson Althoff sold 16,000 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $458.18, for a total value of $7,330,880.00. Following the sale, the executive vice president directly owned 98,010 shares of the company's stock, valued at $44,906,221.80. This represents a 14.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bradford L. Smith sold 6,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $433.17, for a total transaction of $2,599,020.00. Following the completion of the sale, the insider directly owned 471,036 shares in the company, valued at $204,038,664.12. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,743 shares of company stock valued at $27,520,933 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

Microsoft Company Profile

Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.

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