Pitti Group Wealth Management LLC Lowers Holdings in Microsoft Corporation (NASDAQ:MSFT)

Pitti Group Wealth Management LLC trimmed its stake in Microsoft Corporation (NASDAQ:MSFT) by 0.8% during the 1st quarter, HoldingsChannel reports. The fund owned 3,877 shares of the software giant’s stock after selling 33 shares during the quarter. Microsoft comprises 1.5% of Pitti Group Wealth Management LLC’s holdings, making the stock its 18th biggest position. Pitti Group Wealth Management LLC’s holdings in Microsoft were worth $1,455,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. WFA Asset Management Corp boosted its stake in Microsoft by 27.0% during the 1st quarter. WFA Asset Management Corp now owns 1,016 shares of the software giant’s stock valued at $427,000 after purchasing an additional 216 shares during the last quarter. Ironwood Wealth Management LLC. lifted its holdings in shares of Microsoft by 0.3% during the second quarter. Ironwood Wealth Management LLC. now owns 12,658 shares of the software giant’s stock valued at $5,658,000 after purchasing an additional 38 shares in the last quarter. Discipline Wealth Solutions LLC lifted its holdings in shares of Microsoft by 410.4% during the third quarter. Discipline Wealth Solutions LLC now owns 2,659 shares of the software giant’s stock valued at $1,144,000 after purchasing an additional 2,138 shares in the last quarter. Wealth Group Ltd. boosted its position in shares of Microsoft by 1.2% during the fourth quarter. Wealth Group Ltd. now owns 2,374 shares of the software giant’s stock valued at $1,000,000 after buying an additional 28 shares during the last quarter. Finally, Tallon Kerry Patrick bought a new stake in Microsoft in the 4th quarter worth about $1,375,000. 71.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Microsoft

In other Microsoft news, EVP Judson Althoff sold 16,000 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $458.18, for a total value of $7,330,880.00. Following the sale, the executive vice president owned 98,010 shares in the company, valued at $44,906,221.80. The trade was a 14.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradford L. Smith sold 75,000 shares of Microsoft stock in a transaction dated 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 completion of the sale, the insider directly owned 476,999 shares in the company, valued at $207,995,413.95. This trade represents a 13.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,743 shares of company stock valued at $60,224,683. 0.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MSFT has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating on shares of Microsoft in a research note on Thursday, May 1st. UBS Group restated a “positive” rating on shares of Microsoft in a research report on Monday. Mizuho lifted their target price on shares of Microsoft from $475.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. BMO Capital Markets reiterated an “outperform” rating on shares of Microsoft in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company raised their price target on Microsoft from $565.00 to $585.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 25th. Five investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to MarketBeat, Microsoft currently has an average rating of “Moderate Buy” and a consensus target price of $524.71.

Microsoft Stock Up 1.5%

MSFT opened at $498.25 on Friday. The stock has a market cap of $3.70 trillion, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 2.26 and a beta of 1.04. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.36 and a current ratio of 1.37. The firm’s fifty day moving average is $461.41 and its 200 day moving average is $423.67. Microsoft Corporation has a fifty-two week low of $344.79 and a fifty-two week high of $500.76.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings data on Wednesday, April 30th. The software giant reported $3.46 earnings per share for the quarter, topping 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 firm had revenue of $70.07 billion during the quarter, compared to analyst estimates of $68.54 billion. During the same quarter in the prior year, the company posted $2.94 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, August 21st. Microsoft’s payout ratio is currently 25.66%.

Microsoft 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.