Procyon Private Wealth Partners LLC increased its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 11.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,060 shares of the software giant’s stock after buying an additional 2,424 shares during the quarter. Microsoft accounts for 2.5% of Procyon Private Wealth Partners LLC’s investment portfolio, making the stock its 4th largest holding. Procyon Private Wealth Partners LLC’s holdings in Microsoft were worth $3,795,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Sailer Financial LLC bought a new position in shares of Microsoft during the 4th quarter worth approximately $65,000. Avondale Wealth Management increased its position in shares of Microsoft by 25.4% during the first quarter. Avondale Wealth Management now owns 464 shares of the software giant’s stock valued at $73,000 after acquiring an additional 94 shares during the last quarter. Sofos Investments Inc. boosted its position in Microsoft by 15.5% in the first quarter. Sofos Investments Inc. now owns 2,552 shares of the software giant’s stock worth $81,000 after purchasing an additional 343 shares during the last quarter. John W. Brooker & Co. CPAs grew its position in Microsoft by 21.4% during the first quarter. John W. Brooker & Co. CPAs now owns 568 shares of the software giant’s stock valued at $90,000 after buying an additional 100 shares during the period. Finally, Stephenson National Bank & Trust bought a new stake in Microsoft in the fourth quarter worth about $100,000. Institutional investors and hedge funds own 70.71% of the company’s stock.
MSFT has been the subject of several research analyst reports. Bank of America restated a “buy” rating and set a $190.00 price target on shares of Microsoft in a research note on Thursday, April 30th. Goldman Sachs Group boosted their target price on Microsoft from $198.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. Piper Sandler cut their price target on Microsoft from $199.00 to $192.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Deutsche Bank lowered their price objective on Microsoft from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Finally, Macquarie reiterated a “buy” rating and set a $200.00 target price on shares of Microsoft in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a hold rating and thirty-seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $196.63.
Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Wednesday, April 29th. The software giant reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.13. The firm had revenue of $35.02 billion during the quarter, compared to analysts’ expectations of $33.70 billion. Microsoft had a return on equity of 40.37% and a net margin of 33.36%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. As a group, equities analysts anticipate that Microsoft Co. will post 5.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, August 19th. Microsoft’s dividend payout ratio is presently 42.95%.
In other Microsoft news, EVP Margaret L. Johnson sold 35,000 shares of Microsoft stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $176.08, for a total value of $6,162,800.00. Following the transaction, the executive vice president now directly owns 50,023 shares of the company’s stock, valued at approximately $8,808,049.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Frank H. Brod sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $176.94, for a total value of $530,820.00. Following the completion of the sale, the chief accounting officer now owns 57,136 shares of the company’s stock, valued at approximately $10,109,643.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,049 shares of company stock valued at $6,702,736. Company insiders own 1.39% of the company’s stock.
Microsoft Company Profile
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.
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