New Wave Wealth Advisors LLC Buys 1,459 Shares of Microsoft Corporation (NASDAQ:MSFT)

New Wave Wealth Advisors LLC grew its holdings in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) by 15.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,011 shares of the software giant's stock after acquiring an additional 1,459 shares during the quarter. Microsoft accounts for approximately 1.9% of New Wave Wealth Advisors LLC's holdings, making the stock its 17th biggest holding. New Wave Wealth Advisors LLC's holdings in Microsoft were worth $4,133,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MSFT. Ball & Co Wealth Management Inc. purchased a new stake in Microsoft during the 4th quarter valued at about $31,000. Newton One Investments LLC grew its holdings in shares of Microsoft by 66.7% in the first quarter. Newton One Investments LLC now owns 75 shares of the software giant's stock worth $28,000 after purchasing an additional 30 shares during the last quarter. LSV Asset Management bought a new position in shares of Microsoft in the fourth quarter worth approximately $44,000. Fairway Wealth LLC bought a new position in shares of Microsoft in the fourth quarter worth approximately $62,000. Finally, IFS Advisors LLC grew its holdings in shares of Microsoft by 50.0% in the first quarter. IFS Advisors LLC now owns 150 shares of the software giant's stock worth $57,000 after purchasing an additional 50 shares during the last quarter. 71.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MSFT shares. Barclays raised their target price on shares of Microsoft from $550.00 to $625.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Microsoft from $465.00 to $475.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Guggenheim restated a "neutral" rating on shares of Microsoft in a report on Thursday, May 1st. Bank of America raised their target price on shares of Microsoft from $585.00 to $640.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Cantor Fitzgerald raised their target price on shares of Microsoft from $581.00 to $639.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company's stock. According to data from MarketBeat, Microsoft presently has a consensus rating of "Moderate Buy" and an average target price of $609.86.

Microsoft Trading Up 1.4%

NASDAQ 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 stock has a market cap of $3.93 trillion, a P/E ratio of 38.80, a P/E/G ratio of 2.28 and a beta of 1.06. The stock's fifty day moving average price is $499.37 and its 200-day moving average price is $439.35. 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 announced its quarterly earnings results 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. The firm had revenue of $76.44 billion for the quarter, compared to the consensus estimate of $73.79 billion. Microsoft had a return on equity of 32.44% and a net margin of 36.15%. The company's quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 earnings per share. As a group, equities analysts forecast that Microsoft Corporation will post 13.08 EPS for the current fiscal 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 issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 21st. Microsoft's dividend payout ratio is presently 24.34%.

Insiders Place Their Bets

In other news, EVP Kathleen T. Hogan sold 21,500 shares of the company's 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 transaction, the executive vice president directly owned 134,888 shares of the company's stock, valued at $61,208,127.76. This represents a 13.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 owned 98,010 shares of the company's stock, valued at approximately $44,906,221.80. This trade represents a 14.03% 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 valued at $24,921,913. Company insiders own 0.03% of the company's stock.

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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