Franklin Parlapiano Turner & Welch LLC grew its stake in Microsoft Corporation (NASDAQ:MSFT – Free Report) by 0.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 24,807 shares of the software giant’s stock after buying an additional 107 shares during the quarter. Microsoft makes up approximately 3.2% of Franklin Parlapiano Turner & Welch LLC’s portfolio, making the stock its 5th largest holding. Franklin Parlapiano Turner & Welch LLC’s holdings in Microsoft were worth $12,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Bulwark Capital Corp acquired a new stake in shares of Microsoft in the second quarter worth $32,000. Westend Capital Management LLC raised its holdings in Microsoft by 386.7% in the 2nd quarter. Westend Capital Management LLC now owns 73 shares of the software giant’s stock worth $36,000 after acquiring an additional 58 shares during the period. Newton One Investments LLC lifted its position in Microsoft by 66.7% during the 1st quarter. Newton One Investments LLC now owns 75 shares of the software giant’s stock worth $28,000 after acquiring an additional 30 shares during the last quarter. LSV Asset Management bought a new stake in Microsoft during the fourth quarter valued at about $44,000. Finally, PayPay Securities Corp grew its position in shares of Microsoft by 29.9% in the second quarter. PayPay Securities Corp now owns 126 shares of the software giant’s stock valued at $63,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.
Microsoft Stock Performance
NASDAQ MSFT opened at $496.82 on Friday. The stock has a market cap of $3.69 trillion, a P/E ratio of 35.34, a PEG ratio of 2.36 and a beta of 1.02. The company’s 50-day simple moving average is $513.88 and its 200 day simple moving average is $491.56. Microsoft Corporation has a twelve month low of $344.79 and a twelve month high of $555.45. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.12.
Microsoft Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $3.64 annualized dividend and a yield of 0.7%. This is a positive change from Microsoft’s previous quarterly dividend of $0.83. Microsoft’s payout ratio is presently 25.89%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on MSFT shares. Rothschild & Co Redburn boosted their price objective on Microsoft from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Scotiabank upped their price target on Microsoft from $500.00 to $650.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. The Goldman Sachs Group reissued a “buy” rating and issued a $630.00 price objective on shares of Microsoft in a research report on Tuesday, October 28th. Wells Fargo & Company boosted their target price on shares of Microsoft from $675.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, DZ Bank reiterated a “buy” rating on shares of Microsoft in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Microsoft has a consensus rating of “Buy” and a consensus price target of $634.47.
Read Our Latest Stock Report on MSFT
Insider Buying and Selling at Microsoft
In other news, insider Bradford L. Smith sold 38,500 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $518.64, for a total value of $19,967,640.00. Following the sale, the insider owned 461,597 shares of the company’s stock, valued at approximately $239,402,668.08. This represents a 7.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Takeshi Numoto sold 4,850 shares of Microsoft stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $527.32, for a total transaction of $2,557,502.00. Following the transaction, the executive vice president directly owned 39,111 shares of the company’s stock, valued at $20,624,012.52. This represents a 11.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 192,555 shares of company stock worth $97,840,842 over the last three months. Company insiders own 0.03% of the company’s stock.
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.
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