Riversedge Advisors LLC Buys 319 Shares of Microsoft Co. (NASDAQ:MSFT)

Riversedge Advisors LLC boosted its stake in Microsoft Co. (NASDAQ:MSFT) by 4.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,968 shares of the software giant’s stock after purchasing an additional 319 shares during the period. Microsoft makes up 0.8% of Riversedge Advisors LLC’s portfolio, making the stock its 28th largest position. Riversedge Advisors LLC’s holdings in Microsoft were worth $3,114,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Presidio Capital Management LLC raised its position in shares of Microsoft by 5.5% in the second quarter. Presidio Capital Management LLC now owns 2,796 shares of the software giant’s stock valued at $1,250,000 after purchasing an additional 145 shares during the period. Whitaker Myers Wealth Managers LTD. raised its holdings in Microsoft by 4.2% during the 2nd quarter. Whitaker Myers Wealth Managers LTD. now owns 4,223 shares of the software giant’s stock valued at $1,887,000 after acquiring an additional 170 shares during the period. Trajan Wealth LLC lifted its position in shares of Microsoft by 7.9% during the second quarter. Trajan Wealth LLC now owns 196,477 shares of the software giant’s stock worth $87,815,000 after acquiring an additional 14,308 shares in the last quarter. CMC Financial Group boosted its holdings in shares of Microsoft by 0.9% in the second quarter. CMC Financial Group now owns 3,135 shares of the software giant’s stock worth $1,401,000 after acquiring an additional 28 shares during the period. Finally, Emfo LLC grew its position in shares of Microsoft by 1.0% in the second quarter. Emfo LLC now owns 4,985 shares of the software giant’s stock valued at $2,228,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 71.13% of the company’s stock.

Microsoft Price Performance

Shares of MSFT stock opened at $416.06 on Friday. The business’s fifty day moving average is $418.32 and its 200 day moving average is $425.01. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.09 trillion, a price-to-earnings ratio of 36.02, a PEG ratio of 2.30 and a beta of 0.90. Microsoft Co. has a twelve month low of $314.90 and a twelve month high of $468.35.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Tuesday, July 30th. The software giant reported $2.95 EPS for the quarter, beating the consensus estimate of $2.90 by $0.05. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The business had revenue of $64.73 billion during the quarter, compared to analyst estimates of $64.38 billion. During the same quarter last year, the firm posted $2.69 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Research analysts expect that Microsoft Co. will post 13.04 EPS for the current fiscal year.

Microsoft Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.83 per share. This is a boost from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, November 21st. This represents a $3.32 dividend on an annualized basis and a yield of 0.80%. Microsoft’s payout ratio is presently 28.74%.

Microsoft declared that its board has initiated a stock buyback plan on Monday, September 16th that authorizes the company to buyback $60.00 billion in outstanding shares. This buyback authorization authorizes the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MSFT. Argus increased their price objective on Microsoft from $475.00 to $526.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Oppenheimer raised their price objective on shares of Microsoft from $450.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 target price on shares of Microsoft in a report on Wednesday, July 31st. Morgan Stanley reissued an “overweight” rating and issued a $506.00 price target on shares of Microsoft in a report on Tuesday, September 17th. Finally, DA Davidson downgraded Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 price objective on the stock. in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $493.94.

Insiders Place Their Bets

In other news, insider Bradford L. Smith sold 40,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $402.59, for a total transaction of $16,103,600.00. Following the completion of the transaction, the insider now directly owns 544,847 shares in the company, valued at $219,349,953.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Bradford L. Smith sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $402.59, for a total value of $16,103,600.00. Following the transaction, the insider now owns 544,847 shares in the company, valued at approximately $219,349,953.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Satya Nadella sold 78,353 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the completion of the transaction, the chief executive officer now owns 864,327 shares of the company’s stock, valued at approximately $353,189,942.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,629 shares of company stock valued at $77,916,485. 0.03% of the stock is currently owned by corporate insiders.

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.