Prestige Wealth Management Group LLC Sells 603 Shares of Microsoft Co. (NASDAQ:MSFT)

Prestige Wealth Management Group LLC cut its stake in shares of Microsoft Co. (NASDAQ:MSFT - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,550 shares of the software giant's stock after selling 603 shares during the period. Microsoft makes up approximately 3.5% of Prestige Wealth Management Group LLC's investment portfolio, making the stock its 11th largest holding. Prestige Wealth Management Group LLC's holdings in Microsoft were worth $11,191,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fiduciary Advisors Inc. acquired a new position in Microsoft in the fourth quarter valued at about $38,000. IFS Advisors LLC grew its stake in Microsoft by 53.8% in the fourth quarter. IFS Advisors LLC now owns 100 shares of the software giant's stock valued at $42,000 after acquiring an additional 35 shares during the period. Avondale Wealth Management grew its stake in Microsoft by 144.4% in the fourth quarter. Avondale Wealth Management now owns 110 shares of the software giant's stock valued at $46,000 after acquiring an additional 65 shares during the period. Fairway Wealth LLC acquired a new position in Microsoft in the fourth quarter valued at about $62,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Microsoft during the fourth quarter worth about $141,000. 71.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MSFT. Wall Street Zen raised Microsoft from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Westpark Capital reaffirmed a "hold" rating on shares of Microsoft in a research report on Thursday, May 1st. DA Davidson upped their price objective on Microsoft from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Bank of America reduced their price objective on Microsoft from $510.00 to $480.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Benchmark reiterated a "buy" rating on shares of Microsoft in a report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $513.13.

Microsoft Price Performance

Microsoft stock traded up $0.98 during mid-day trading on Tuesday, reaching $462.95. 7,888,285 shares of the company were exchanged, compared to its average volume of 21,432,333. The company has a fifty day simple moving average of $410.44 and a 200-day simple moving average of $415.29. Microsoft Co. has a 12 month low of $344.79 and a 12 month high of $468.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34. The firm has a market cap of $3.44 trillion, a PE ratio of 37.27, a PEG ratio of 2.21 and a beta of 0.99.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The software giant reported $3.46 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.24. The firm had revenue of $70.07 billion for the quarter, compared to the consensus estimate of $68.54 billion. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. The company's revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.94 EPS. As a group, equities research analysts expect that Microsoft Co. will post 13.08 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Thursday, May 15th. Microsoft's payout ratio is 25.66%.

Insider Activity

In other news, insider Bradford L. Smith sold 75,000 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $436.05, for a total value of $32,703,750.00. Following the completion of the transaction, the insider now directly owns 476,999 shares in the company, valued at approximately $207,995,413.95. This represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Takeshi Numoto sold 1,000 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $460.01, for a total value of $460,010.00. Following the completion of the transaction, the executive vice president now owns 47,058 shares of the company's stock, valued at $21,647,150.58. The trade was a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,743 shares of company stock worth $58,835,683. Insiders own 0.03% of the company's stock.

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.