CCG Wealth Management LLC Has $5.21 Million Holdings in Microsoft Co. (NASDAQ:MSFT)

CCG Wealth Management LLC increased its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 2.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,099 shares of the software giant’s stock after buying an additional 270 shares during the quarter. Microsoft accounts for about 2.9% of CCG Wealth Management LLC’s investment portfolio, making the stock its 7th largest holding. CCG Wealth Management LLC’s holdings in Microsoft were worth $5,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSFT. Christopher J. Hasenberg Inc boosted its position in shares of Microsoft by 169.2% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after acquiring an additional 44 shares in the last quarter. Quarry LP bought a new stake in Microsoft during the second quarter worth $45,000. Richardson Capital Management LLC boosted its holdings in shares of Microsoft by 1,290.0% in the 1st quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock valued at $59,000 after purchasing an additional 129 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Microsoft in the 2nd quarter valued at $75,000. Finally, Bellevue Group AG increased its stake in shares of Microsoft by 47.5% in the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock valued at $76,000 after purchasing an additional 58 shares during the last quarter. 71.13% of the stock is owned by institutional investors and hedge funds.

Microsoft Trading Up 1.3 %

NASDAQ:MSFT opened at $431.95 on Wednesday. Microsoft Co. has a 52 week low of $331.83 and a 52 week high of $468.35. The firm’s fifty day moving average is $420.84 and its 200-day moving average is $424.65. The firm has a market cap of $3.21 trillion, a P/E ratio of 36.57, a P/E/G ratio of 2.24 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.27 and a current ratio of 1.27.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.05. The firm had revenue of $64.73 billion during the quarter, compared to the consensus estimate of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business posted $2.69 EPS. Equities analysts expect that Microsoft Co. will post 13.02 earnings per share for the current year.

Microsoft declared that its Board of Directors has initiated a stock repurchase program on Monday, September 16th that permits the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization permits the software giant to buy up to 1.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Microsoft Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.83 per share. The ex-dividend date is Thursday, November 21st. This represents a $3.32 annualized dividend and a yield of 0.77%. This is a boost from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s dividend payout ratio (DPR) is currently 28.11%.

Insiders Place Their Bets

In other Microsoft news, CEO Satya Nadella sold 14,398 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $417.41, for a total transaction of $6,009,869.18. Following the transaction, the chief executive officer now directly owns 786,933 shares in the company, valued at approximately $328,473,703.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Satya Nadella sold 14,398 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $417.41, for a total transaction of $6,009,869.18. Following the transaction, the chief executive officer now directly owns 786,933 shares of the company’s stock, valued at $328,473,703.53. This 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 can be accessed through the SEC website. Also, 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 sale, the insider now owns 544,847 shares of the company’s stock, valued at $219,349,953.73. 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 sold 190,629 shares of company stock worth $77,916,485. 0.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MSFT. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $500.00 price objective on shares of Microsoft in a research note on Wednesday, July 31st. DA Davidson cut shares of Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 target price for the company. in a report on Monday, September 23rd. TD Cowen lifted their price target on shares of Microsoft from $470.00 to $495.00 and gave the company a “buy” rating in a report on Thursday, July 18th. UBS Group dropped their price objective on shares of Microsoft from $520.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Bank of America boosted their target price on shares of Microsoft from $480.00 to $510.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $502.97.

About Microsoft

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.