Riggs Capital Management LLC Makes New $488,000 Investment in Microsoft Co. (NASDAQ:MSFT)

Riggs Capital Management LLC bought a new stake in Microsoft Co. (NASDAQ:MSFT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,157 shares of the software giant's stock, valued at approximately $488,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MSFT. Fiduciary Advisors Inc. acquired a new stake in Microsoft in the fourth quarter worth about $38,000. IFS Advisors LLC boosted its holdings in Microsoft by 53.8% in the fourth quarter. IFS Advisors LLC now owns 100 shares of the software giant's stock worth $42,000 after acquiring an additional 35 shares in the last quarter. Avondale Wealth Management boosted its holdings in Microsoft by 144.4% in the fourth quarter. Avondale Wealth Management now owns 110 shares of the software giant's stock worth $46,000 after acquiring an additional 65 shares in the last quarter. Fairway Wealth LLC acquired a new stake in Microsoft in the fourth quarter worth about $62,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Microsoft in the fourth quarter worth about $120,000. Hedge funds and other institutional investors own 71.13% of the company's stock.

Microsoft Price Performance

Shares of Microsoft stock traded up $2.70 on Friday, reaching $470.38. The company's stock had a trading volume of 15,271,762 shares, compared to its average volume of 21,523,496. The company has a market capitalization of $3.50 trillion, a P/E ratio of 37.87, a PEG ratio of 2.21 and a beta of 1.03. Microsoft Co. has a 52-week low of $344.79 and a 52-week high of $473.34. The stock has a 50-day moving average price of $417.20 and a 200-day moving average price of $416.67. The company has a quick ratio of 1.34, a current ratio of 1.35 and a debt-to-equity ratio of 0.13.

Microsoft (NASDAQ:MSFT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The software giant reported $3.46 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.24. The business had revenue of $70.07 billion during the quarter, compared to analysts' expectations of $68.54 billion. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. The business's revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.94 earnings per share. Analysts expect that Microsoft Co. will post 13.08 EPS for the current year.

Microsoft Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, May 15th. Microsoft's dividend payout ratio (DPR) is presently 25.66%.

Insider Buying and Selling

In related news, EVP Amy Coleman sold 13,243 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $452.01, for a total transaction of $5,985,968.43. Following the completion of the sale, the executive vice president now directly owns 43,100 shares in the company, valued at approximately $19,481,631. The trade was a 23.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradford L. Smith sold 75,000 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 476,999 shares of the company's stock, valued at $207,995,413.95. The trade was a 13.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,743 shares of company stock worth $60,224,683. 0.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Cantor Fitzgerald lifted their target price on Microsoft from $502.00 to $512.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on Microsoft from $465.00 to $475.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their target price on Microsoft from $475.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Piper Sandler reaffirmed an "overweight" rating on shares of Microsoft in a report on Wednesday, May 21st. Finally, Wells Fargo & Company lifted their target price on Microsoft from $500.00 to $515.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $513.59.

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.