Hobbs Wealth Management LLC cut its position in Microsoft Corporation (NASDAQ:MSFT - Free Report) by 28.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,105 shares of the software giant's stock after selling 819 shares during the period. Microsoft accounts for 0.9% of Hobbs Wealth Management LLC's investment portfolio, making the stock its 19th largest holding. Hobbs Wealth Management LLC's holdings in Microsoft were worth $790,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fosun International Ltd grew its stake in shares of Microsoft by 0.3% in the first quarter. Fosun International Ltd now owns 6,633 shares of the software giant's stock valued at $2,490,000 after buying an additional 23 shares in the last quarter. Retirement Financial Solutions LLC increased its holdings in Microsoft by 2.3% in the 4th quarter. Retirement Financial Solutions LLC now owns 1,050 shares of the software giant's stock valued at $443,000 after buying an additional 24 shares during the period. Kuhn & Co Investment Counsel boosted its holdings in shares of Microsoft by 0.8% in the 4th 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 in the last quarter. Alliance Wealth Management Group grew its holdings in shares of Microsoft by 0.4% during the 4th 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 last quarter. Finally, Guidance Point Advisors LLC grew its position in Microsoft by 0.6% during the 4th quarter. Guidance Point Advisors LLC now owns 4,294 shares of the software giant's stock worth $1,811,000 after acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 71.13% of the company's stock.
Insiders Place Their Bets
In other news, EVP Judson Althoff sold 16,000 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $458.18, for a total transaction of $7,330,880.00. Following the completion of the sale, the executive vice president owned 98,010 shares in the company, valued at approximately $44,906,221.80. This represents a 14.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kathleen T. Hogan sold 21,500 shares of Microsoft stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $453.77, for a total transaction of $9,756,055.00. Following the sale, the executive vice president owned 134,888 shares of the company's stock, valued at $61,208,127.76. The trade was a 13.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,743 shares of company stock worth $24,921,913. 0.03% of the stock is currently owned by company insiders.
Microsoft Stock Performance
MSFT opened at $529.24 on Wednesday. Microsoft Corporation has a 12-month low of $344.79 and a 12-month high of $555.45. The company's 50 day moving average is $499.37 and its 200 day moving average is $439.35. The company has a market cap of $3.93 trillion, a price-to-earnings ratio of 38.80, a PEG ratio of 2.28 and a beta of 1.06. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.12.
Microsoft (NASDAQ:MSFT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The software giant reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.35 by $0.30. The firm 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 company's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.95 earnings per share. On average, equities research analysts predict that Microsoft Corporation will post 13.08 EPS for the current year.
Microsoft Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a $0.83 dividend. The ex-dividend date is Thursday, August 21st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Microsoft's dividend payout ratio (DPR) is presently 24.34%.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on MSFT shares. Jefferies Financial Group upped their price objective on shares of Microsoft from $600.00 to $675.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Barclays raised their target price on Microsoft from $550.00 to $625.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC restated a "buy" rating on shares of Microsoft in a research note on Thursday, May 1st. Citigroup upped their target price on Microsoft from $605.00 to $613.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Finally, Stifel Nicolaus boosted their target price on Microsoft from $500.00 to $550.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Two analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to MarketBeat.com, Microsoft presently has a consensus rating of "Moderate Buy" and a consensus price target of $609.86.
Check Out Our Latest Report on MSFT
Microsoft Profile
(
Free Report)
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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