Pinnacle Wealth Management Advisory Group LLC Has $5.50 Million Stock Position in Morgan Stanley (NYSE:MS)

Key Points

• Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Morgan Stanley by 4.2% during the first quarter, owning 47,106 shares valued at approximately $5.5 million as of the latest SEC filing.
• Morgan Stanley's recent quarterly earnings reported a higher-than-expected $2.13 EPS and revenue of $16.79 billion, showing an 11.8% increase compared to the previous year.
• The company has approved a $20 billion stock repurchase plan, reflecting confidence in its share valuation and allowing for repurchase of up to 8.9% of its shares.

Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Morgan Stanley (NYSE:MS - Free Report) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,106 shares of the financial services provider's stock after acquiring an additional 1,883 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC's holdings in Morgan Stanley were worth $5,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MS. Foundations Investment Advisors LLC boosted its stake in shares of Morgan Stanley by 220.2% in the 1st quarter. Foundations Investment Advisors LLC now owns 230,348 shares of the financial services provider's stock valued at $26,875,000 after buying an additional 158,403 shares during the period. Mackenzie Financial Corp raised its position in shares of Morgan Stanley by 59.0% during the 1st quarter. Mackenzie Financial Corp now owns 1,362,411 shares of the financial services provider's stock worth $158,952,000 after acquiring an additional 505,642 shares in the last quarter. Prosperity Consulting Group LLC raised its position in shares of Morgan Stanley by 5.1% during the 1st quarter. Prosperity Consulting Group LLC now owns 3,160 shares of the financial services provider's stock worth $369,000 after acquiring an additional 152 shares in the last quarter. Richards Merrill & Peterson Inc. raised its position in shares of Morgan Stanley by 14.9% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 7,124 shares of the financial services provider's stock worth $831,000 after acquiring an additional 924 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Morgan Stanley by 4.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 520,617 shares of the financial services provider's stock worth $60,740,000 after acquiring an additional 21,063 shares in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Morgan Stanley Stock Down 0.4%

MS stock traded down $0.55 during midday trading on Monday, hitting $142.46. 3,729,333 shares of the company's stock were exchanged, compared to its average volume of 5,602,143. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 3.11. Morgan Stanley has a 12-month low of $90.94 and a 12-month high of $145.16. The firm has a 50 day moving average price of $135.60 and a 200-day moving average price of $127.88. The stock has a market capitalization of $228.55 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.80 and a beta of 1.30.

Morgan Stanley (NYSE:MS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.15. Morgan Stanley had a return on equity of 15.33% and a net margin of 13.06%. The business had revenue of $16.79 billion during the quarter, compared to the consensus estimate of $16.15 billion. During the same period in the previous year, the business earned $1.82 EPS. The business's quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts anticipate that Morgan Stanley will post 8.56 EPS for the current year.

Morgan Stanley Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be paid a dividend of $1.00 per share. This is an increase from Morgan Stanley's previous quarterly dividend of $0.93. This represents a $4.00 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, July 31st. Morgan Stanley's dividend payout ratio is presently 41.90%.

Morgan Stanley announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 1st that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 8.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

MS has been the topic of several research analyst reports. Bank of America cut their target price on Morgan Stanley from $150.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Erste Group Bank raised Morgan Stanley from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Keefe, Bruyette & Woods raised Morgan Stanley from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $127.00 to $160.00 in a research report on Wednesday, July 9th. JMP Securities reaffirmed a "market perform" rating on shares of Morgan Stanley in a research report on Monday, April 14th. Finally, Citigroup reaffirmed a "neutral" rating and set a $130.00 price target (up previously from $125.00) on shares of Morgan Stanley in a research report on Wednesday, June 18th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $138.25.

Insider Activity

In other Morgan Stanley news, insider Michael A. Pizzi sold 18,000 shares of the business's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $140.62, for a total transaction of $2,531,160.00. Following the completion of the transaction, the insider owned 136,407 shares in the company, valued at approximately $19,181,552.34. The trade was a 11.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sharon Yeshaya sold 25,583 shares of the business's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $139.81, for a total value of $3,576,759.23. Following the transaction, the chief financial officer owned 128,662 shares of the company's stock, valued at $17,988,234.22. This trade represents a 16.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,949 shares of company stock worth $25,737,084 over the last 90 days. Insiders own 0.19% of the company's stock.

Morgan Stanley Company Profile

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. It operates through Institutional Securities, Wealth Management, and Investment Management segments.