Daymark Wealth Partners LLC Has $113.06 Million Stake in Microsoft Corporation (NASDAQ:MSFT)

Daymark Wealth Partners LLC cut its position in Microsoft Corporation (NASDAQ:MSFT - Free Report) by 23.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,181 shares of the software giant's stock after selling 92,292 shares during the quarter. Microsoft accounts for 4.9% of Daymark Wealth Partners LLC's holdings, making the stock its 3rd largest holding. Daymark Wealth Partners LLC's holdings in Microsoft were worth $113,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. WFA Asset Management Corp lifted its holdings in shares of Microsoft by 27.0% in the 1st quarter. WFA Asset Management Corp now owns 1,016 shares of the software giant's stock valued at $427,000 after purchasing an additional 216 shares during the last quarter. Ironwood Wealth Management LLC. raised its stake in Microsoft by 0.3% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 12,658 shares of the software giant's stock valued at $5,658,000 after acquiring an additional 38 shares during the last quarter. Discipline Wealth Solutions LLC increased its position in Microsoft by 410.4% during the 3rd quarter. Discipline Wealth Solutions LLC now owns 2,659 shares of the software giant's stock worth $1,144,000 after purchasing an additional 2,138 shares during the period. Wealth Group Ltd. increased its position in Microsoft by 1.2% during the 4th quarter. Wealth Group Ltd. now owns 2,374 shares of the software giant's stock worth $1,000,000 after purchasing an additional 28 shares during the period. Finally, Tallon Kerry Patrick acquired a new stake in shares of Microsoft in the 4th quarter worth approximately $1,375,000. 71.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Microsoft

In related news, EVP Judson Althoff sold 16,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $458.18, for a total transaction of $7,330,880.00. Following the completion of the transaction, the executive vice president owned 98,010 shares of the company's stock, valued at approximately $44,906,221.80. The trade was a 14.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Takeshi Numoto sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $463.00, for a total transaction of $1,389,000.00. Following the transaction, the executive vice president directly owned 43,930 shares of the company's stock, valued at approximately $20,339,590. This represents a 6.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,743 shares of company stock worth $24,921,913. 0.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MSFT has been the topic of a number of recent research reports. Piper Sandler upped their target price on Microsoft from $600.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Guggenheim reissued a "neutral" rating on shares of Microsoft in a research report on Thursday, May 1st. Loop Capital raised their price objective on Microsoft from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Barclays raised their price objective on Microsoft from $550.00 to $625.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Jefferies Financial Group raised their price objective on Microsoft from $600.00 to $675.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $609.86.

Microsoft Stock Down 0.5%

NASDAQ:MSFT traded down $2.81 during trading hours on Wednesday, reaching $524.94. The company had a trading volume of 21,298,640 shares, compared to its average volume of 22,431,307. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.12. The firm has a market cap of $3.90 trillion, a price-to-earnings ratio of 38.49, a P/E/G ratio of 2.34 and a beta of 1.06. The business's 50-day simple moving average is $492.99 and its two-hundred day simple moving average is $436.40. Microsoft Corporation has a twelve month low of $344.79 and a twelve month high of $555.45.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The software giant reported $3.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.35 by $0.30. Microsoft had a net margin of 36.15% and a return on equity of 32.44%. The firm had revenue of $76.44 billion during the quarter, compared to analysts' expectations of $73.79 billion. During the same period last year, the company earned $2.95 earnings per share. The business's revenue was up 18.1% on a year-over-year basis. On average, equities analysts expect that Microsoft Corporation will post 13.08 earnings per share for the current year.

Microsoft Dividend Announcement

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

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.