Parr Mcknight Wealth Management Group LLC Purchases New Stake in Microsoft Corporation (NASDAQ:MSFT)

Parr Mcknight Wealth Management Group LLC purchased a new position in Microsoft Corporation (NASDAQ:MSFT) in the fourth quarter, HoldingsChannel reports. The fund purchased 74,647 shares of the software giant’s stock, valued at approximately $31,464,000. Microsoft makes up about 4.5% of Parr Mcknight Wealth Management Group LLC’s portfolio, making the stock its 4th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in MSFT. WCG Wealth Advisors LLC lifted its holdings in Microsoft by 1.4% in the fourth quarter. WCG Wealth Advisors LLC now owns 74,631 shares of the software giant’s stock worth $31,457,000 after purchasing an additional 1,060 shares during the period. Pacific Point Advisors LLC acquired a new stake in Microsoft during the 4th quarter worth about $5,374,000. Wick Capital Partners LLC raised its holdings in Microsoft by 6.7% during the 4th quarter. Wick Capital Partners LLC now owns 3,071 shares of the software giant’s stock worth $1,294,000 after buying an additional 194 shares during the period. McMill Wealth Management acquired a new position in shares of Microsoft in the 4th quarter valued at about $1,078,000. Finally, Vega Investment Solutions acquired a new position in shares of Microsoft in the 4th quarter valued at about $16,162,000. Institutional investors and hedge funds own 71.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MSFT. Barclays increased their price objective on Microsoft from $430.00 to $494.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Raymond James Financial raised their price objective on shares of Microsoft from $480.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. BMO Capital Markets reaffirmed an “outperform” rating on shares of Microsoft in a research report on Wednesday, May 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of Microsoft in a research report on Wednesday, June 4th. Finally, TD Securities raised their target price on Microsoft from $475.00 to $490.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $515.68.

Insider Activity at Microsoft

In other Microsoft news, EVP Kathleen T. Hogan sold 21,500 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $453.77, for a total transaction of $9,756,055.00. Following the completion of the sale, the executive vice president now directly owns 134,888 shares of the company’s stock, valued at approximately $61,208,127.76. The trade was a 13.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Takeshi Numoto sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $463.00, for a total value of $1,389,000.00. Following the sale, the executive vice president now directly owns 43,930 shares of the company’s stock, valued at $20,339,590. This represents a 6.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,743 shares of company stock valued at $60,224,683 over the last ninety days. 0.03% of the stock is owned by insiders.

Microsoft Stock Performance

Microsoft stock opened at $480.24 on Thursday. The stock has a 50-day simple moving average of $434.09 and a 200 day simple moving average of $419.74. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 0.12. Microsoft Corporation has a 12-month low of $344.79 and a 12-month high of $481.00. The stock has a market capitalization of $3.57 trillion, a price-to-earnings ratio of 37.11, a P/E/G ratio of 2.43 and a beta of 1.03.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Wednesday, April 30th. The software giant reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.24. Microsoft had a return on equity of 32.74% and a net margin of 35.79%. The business had revenue of $70.07 billion during the quarter, compared to analysts’ expectations of $68.54 billion. During the same period in the previous year, the business posted $2.94 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts anticipate that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.69%. Microsoft’s dividend payout ratio is 25.66%.

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.