CrossGen Wealth LLC Takes Position in Microsoft Corporation $MSFT

CrossGen Wealth LLC acquired a new stake in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 11,938 shares of the software giant's stock, valued at approximately $5,774,000. Microsoft makes up 5.1% of CrossGen Wealth LLC's portfolio, making the stock its 3rd biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Longfellow Investment Management Co. LLC raised its holdings in Microsoft by 51.3% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 59 shares of the software giant's stock valued at $29,000 after buying an additional 20 shares during the last quarter. Bernzott Capital Advisors bought a new stake in Microsoft during the 4th quarter worth approximately $34,000. Timmons Wealth Management LLC acquired a new position in Microsoft in the 4th quarter valued at approximately $36,000. Fairway Wealth LLC increased its position in Microsoft by 287.0% in the 4th quarter. Fairway Wealth LLC now owns 89 shares of the software giant's stock valued at $43,000 after acquiring an additional 66 shares during the period. Finally, LSV Asset Management bought a new position in shares of Microsoft during the fourth quarter valued at $44,000. Institutional investors and hedge funds own 71.13% of the company's stock.

Insider Activity at Microsoft

In related news, EVP Takeshi Numoto sold 4,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $402.84, for a total transaction of $1,812,780.00. Following the completion of the sale, the executive vice president owned 47,468 shares of the company's stock, valued at $19,122,009.12. This trade represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Judson Althoff sold 15,500 shares of Microsoft stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $460.99, for a total value of $7,145,345.00. Following the completion of the sale, the chief executive officer owned 110,477 shares of the company's stock, valued at approximately $50,928,792.23. The trade was a 12.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,762 shares of company stock worth $10,508,361 in the last 90 days. Corporate insiders own 0.03% of the company's stock.

Microsoft Price Performance

Shares of NASDAQ MSFT opened at $379.40 on Friday. The company has a market capitalization of $2.82 trillion, a PE ratio of 22.58, a P/E/G ratio of 1.36 and a beta of 1.11. The company has a quick ratio of 1.27, a current ratio of 1.28 and a debt-to-equity ratio of 0.08. Microsoft Corporation has a twelve month low of $356.28 and a twelve month high of $555.45. The firm has a fifty day simple moving average of $412.27 and a 200 day simple moving average of $425.90.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The software giant reported $4.27 EPS for the quarter, beating analysts' consensus estimates of $4.06 by $0.21. Microsoft had a net margin of 39.34% and a return on equity of 31.94%. The business had revenue of $82.89 billion for the quarter, compared to analysts' expectations of $81.44 billion. During the same quarter in the prior year, the firm posted $3.46 earnings per share. The business's quarterly revenue was up 18.3% compared to the same quarter last year. On average, sell-side analysts forecast that Microsoft Corporation will post 16.76 EPS for the current year.

Microsoft Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date is Thursday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 1.0%. Microsoft's dividend payout ratio is presently 21.67%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MSFT. Jefferies Financial Group reiterated a "buy" rating on shares of Microsoft in a report on Monday, May 4th. Tigress Financial raised their target price on Microsoft from $595.00 to $680.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Truist Financial cut their target price on Microsoft from $675.00 to $575.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Citizens Jmp started coverage on Microsoft in a research report on Monday, June 1st. They issued an "outperform" rating and a $550.00 price target on the stock. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Microsoft in a research note on Thursday, April 30th. Forty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $561.20.

Key Microsoft News

Here are the key news stories impacting Microsoft this week:

• Positive Sentiment: Microsoft is reportedly building a more than $1 billion annual AI and cloud business with ByteDance in China, underscoring strong demand for its Azure and OpenAI-related services. Microsoft Scores Massive China AI Win as TikTok Parent Eyes $1 Billion Spend
• Positive Sentiment: OpenAI’s push to monetize ChatGPT with ads highlights continued AI commercialization, which may support sentiment around Microsoft’s OpenAI stake and AI strategy. OpenAI Brings ChatGPT Ads to Japan
• Neutral Sentiment: Microsoft is said to be moving Copilot to usage-based pricing and exploring cheaper AI models, a sign it is trying to improve margins as AI infrastructure costs rise. Microsoft (MSFT) Moves Copilot To Usage Based Pricing As AI Costs Rise
• Negative Sentiment: Several reports say investors are increasingly worried about Microsoft’s AI valuation, spending, and monetization, which is weighing on the stock. Microsoft Faces AI Expectations Test
• Negative Sentiment: Microsoft is also facing securities class-action lawsuits and investigations over alleged misleading AI-related statements, adding legal uncertainty. Bronstein, Gewirtz & Grossman LLC Urges Microsoft Corporation Investors to Act: Class Action Filed Alleging Investor Harm
• Negative Sentiment: Reports that Microsoft walked away from a potential $3 billion Oracle cloud deal suggest possible friction in securing additional cloud capacity. Why Microsoft Stock Slumped Today

Microsoft Company Profile

Microsoft Corporation is a global technology company headquartered in Redmond, Washington. Founded in 1975 by Bill Gates and Paul Allen, Microsoft develops, licenses and supports a broad range of software products, services and devices for consumers, enterprises and governments worldwide. Its operations span personal computing, productivity software, cloud infrastructure, enterprise applications, developer tools and gaming.

Microsoft's product portfolio includes the Windows operating system and the Microsoft 365 suite of productivity and collaboration tools (Office apps, Outlook, Teams).

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