PMG Wealth Management Inc. Sells 4,603 Shares of Microsoft Corporation (NASDAQ:MSFT)

PMG Wealth Management Inc. lessened its holdings in Microsoft Corporation (NASDAQ:MSFT - Free Report) by 52.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,117 shares of the software giant's stock after selling 4,603 shares during the period. Microsoft accounts for approximately 1.6% of PMG Wealth Management Inc.'s holdings, making the stock its 16th biggest position. PMG Wealth Management Inc.'s holdings in Microsoft were worth $1,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MSFT. WFA Asset Management Corp raised its holdings in shares of Microsoft by 27.0% during the 1st quarter. WFA Asset Management Corp now owns 1,016 shares of the software giant's stock worth $427,000 after acquiring an additional 216 shares in the last quarter. Ironwood Wealth Management LLC. grew its holdings 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 purchasing an additional 38 shares during the last quarter. Discipline Wealth Solutions LLC raised its holdings in shares of Microsoft by 410.4% in the third quarter. Discipline Wealth Solutions LLC now owns 2,659 shares of the software giant's stock worth $1,144,000 after buying an additional 2,138 shares during the period. Wealth Group Ltd. lifted its position in shares of Microsoft by 1.2% during the fourth 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 last quarter. Finally, Tallon Kerry Patrick bought a new stake in Microsoft during the 4th quarter valued at about $1,375,000. Institutional investors own 71.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MSFT shares. Mizuho increased their price target on Microsoft from $475.00 to $500.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. The Goldman Sachs Group upped their price target on Microsoft from $480.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Wells Fargo & Company lifted their target price on shares of Microsoft from $565.00 to $585.00 and gave the stock an "overweight" rating in a research note on Wednesday. BMO Capital Markets reiterated an "outperform" rating on shares of Microsoft in a research note on Wednesday, May 21st. Finally, Barclays raised their target price on shares of Microsoft from $430.00 to $494.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. Based on data from MarketBeat, Microsoft currently has an average rating of "Moderate Buy" and a consensus price target of $521.14.

Insider Buying and Selling

In other Microsoft news, insider Bradford L. Smith sold 6,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $433.17, for a total transaction of $2,599,020.00. Following the sale, the insider now directly owns 471,036 shares in the company, valued at $204,038,664.12. This represents a 1.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathleen T. Hogan sold 21,500 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $453.77, for a total value of $9,756,055.00. Following the transaction, the executive vice president now directly owns 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 quarter, insiders sold 135,743 shares of company stock valued at $60,224,683. Company insiders own 0.03% of the company's stock.

Microsoft Trading Down 0.3%

Shares of MSFT stock opened at $495.94 on Friday. The stock's fifty day moving average is $449.47 and its two-hundred day moving average is $422.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.36 and a current ratio of 1.37. The firm has a market capitalization of $3.69 trillion, a P/E ratio of 38.33, a PEG ratio of 2.52 and a beta of 1.03. Microsoft Corporation has a fifty-two week low of $344.79 and a fifty-two week high of $499.30.

Microsoft (NASDAQ:MSFT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The software giant reported $3.46 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.24. Microsoft had a return on equity of 32.74% and a net margin of 35.79%. The company had revenue of $70.07 billion for the quarter, compared to analyst estimates of $68.54 billion. During the same quarter in the previous year, the company posted $2.94 earnings per share. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. Research analysts expect that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given 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 0.67%. Microsoft's payout ratio is currently 25.66%.

Microsoft 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.

Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Corporation (NASDAQ:MSFT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.