Thrive Wealth Management LLC Has $7.99 Million Holdings in Microsoft Corporation (NASDAQ:MSFT)

Thrive Wealth Management LLC reduced its holdings in shares of Microsoft Corporation (NASDAQ:MSFT) by 5.8% in the first quarter, Holdings Channel.com reports. The fund owned 21,273 shares of the software giant’s stock after selling 1,313 shares during the quarter. Microsoft comprises about 1.5% of Thrive Wealth Management LLC’s portfolio, making the stock its 8th largest holding. Thrive Wealth Management LLC’s holdings in Microsoft were worth $7,985,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of MSFT. Ball & Co Wealth Management Inc. bought a new position in shares of Microsoft in the fourth quarter worth about $31,000. Fiduciary Advisors Inc. purchased a new stake in Microsoft in the 4th quarter valued at about $38,000. LSV Asset Management bought a new position in Microsoft in the 4th quarter worth about $44,000. IFS Advisors LLC increased its position in shares of Microsoft by 50.0% during the first quarter. IFS Advisors LLC now owns 150 shares of the software giant’s stock worth $57,000 after acquiring an additional 50 shares during the period. Finally, Fairway Wealth LLC bought a new stake in shares of Microsoft during the fourth quarter valued at approximately $62,000. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Analyst Ratings Changes

MSFT has been the topic of several research reports. Evercore ISI set a $515.00 price objective on Microsoft and gave the stock an “outperform” rating in a report on Wednesday, May 21st. Tigress Financial raised their price target on Microsoft from $550.00 to $595.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Wells Fargo & Company upped their price objective on shares of Microsoft from $565.00 to $585.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 25th. Jefferies Financial Group increased their target price on shares of Microsoft from $475.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Wedbush raised their target price on shares of Microsoft from $515.00 to $600.00 and gave the company an “outperform” rating in a research report 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $524.71.

Microsoft Stock Down 0.2%

Shares of MSFT stock opened at $491.09 on Thursday. The stock’s fifty day moving average price is $457.07 and its 200 day moving average price is $423.04. Microsoft Corporation has a 1-year low of $344.79 and a 1-year high of $500.76. The company has a market cap of $3.65 trillion, a price-to-earnings ratio of 37.95, a price-to-earnings-growth ratio of 2.23 and a beta of 1.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.37 and a quick ratio of 1.36.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results 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. The business had revenue of $70.07 billion for the quarter, compared to analyst estimates of $68.54 billion. Microsoft had a return on equity of 32.74% and a net margin of 35.79%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.94 earnings per share. On average, research analysts expect that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, August 21st. Microsoft’s payout ratio is 25.66%.

Insider Activity

In related news, EVP Kathleen T. Hogan sold 21,500 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $453.77, for a total transaction of $9,756,055.00. Following the completion of the transaction, the executive vice president directly owned 134,888 shares in the company, valued at $61,208,127.76. The trade was a 13.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Amy Coleman sold 13,243 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $452.01, for a total transaction of $5,985,968.43. Following the completion of the sale, the executive vice president directly owned 43,100 shares in the company, valued at approximately $19,481,631. The trade was a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 insiders.

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.