PMG Wealth Management Inc. Takes Position in Microsoft Co. (NASDAQ:MSFT)

PMG Wealth Management Inc. purchased a new stake in shares of Microsoft Co. (NASDAQ:MSFT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,720 shares of the software giant's stock, valued at approximately $3,675,000. Microsoft makes up approximately 3.3% of PMG Wealth Management Inc.'s investment portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. bought a new stake in shares of Microsoft in the 4th quarter worth $38,000. IFS Advisors LLC lifted its stake in shares of Microsoft by 53.8% during the 4th quarter. IFS Advisors LLC now owns 100 shares of the software giant's stock valued at $42,000 after buying an additional 35 shares in the last quarter. Avondale Wealth Management grew its position in shares of Microsoft by 144.4% during the fourth quarter. Avondale Wealth Management now owns 110 shares of the software giant's stock worth $46,000 after purchasing an additional 65 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Microsoft during the 3rd quarter valued at approximately $62,000. Finally, Kieckhefer Group LLC purchased a new position in Microsoft in the 4th quarter worth approximately $141,000. 71.13% of the stock is owned by hedge funds and other institutional investors.

Microsoft Trading Up 0.3 %

Shares of NASDAQ MSFT traded up $1.22 during mid-day trading on Wednesday, reaching $395.26. The company had a trading volume of 34,469,227 shares, compared to its average volume of 21,165,221. Microsoft Co. has a 52 week low of $344.79 and a 52 week high of $468.35. The business's 50-day moving average is $383.76 and its 200-day moving average is $410.91. The stock has a market cap of $2.94 trillion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.21 and a beta of 1.00. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.13.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The software giant reported $3.46 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $0.26. Microsoft had a net margin of 35.43% and a return on equity of 33.36%. During the same quarter last year, the firm earned $2.94 EPS. The company's quarterly revenue was up 13.3% on a year-over-year basis. Equities analysts expect that Microsoft Co. will post 13.08 earnings per share for the current year.

Microsoft Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.32 dividend on an annualized basis and a yield of 0.84%. Microsoft's dividend payout ratio is currently 26.73%.

Wall Street Analysts Forecast Growth

MSFT has been the topic of several research analyst reports. Westpark Capital assumed coverage on shares of Microsoft in a research note on Tuesday, April 1st. They issued a "hold" rating on the stock. Scotiabank initiated coverage on Microsoft in a research report on Thursday, March 20th. They issued a "sector outperform" rating and a $470.00 target price on the stock. Guggenheim restated a "neutral" rating on shares of Microsoft in a report on Wednesday, April 23rd. Stifel Nicolaus reduced their price objective on Microsoft from $515.00 to $475.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Finally, Bank of America lowered their target price on Microsoft from $510.00 to $480.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Five analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $493.89.

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.