Mattern Wealth Management LLC Lowers Stake in Microsoft Co. (NASDAQ:MSFT)

Mattern Wealth Management LLC decreased its holdings in Microsoft Co. (NASDAQ:MSFT) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,964 shares of the software giant’s stock after selling 1,205 shares during the period. Microsoft comprises about 6.6% of Mattern Wealth Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Mattern Wealth Management LLC’s holdings in Microsoft were worth $27,248,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MSFT. Richardson Capital Management LLC boosted its holdings in Microsoft by 1,290.0% in the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after purchasing an additional 129 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Microsoft in the 4th quarter worth $58,000. Bellevue Group AG grew its holdings in shares of Microsoft by 47.5% in the first quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp increased its position in Microsoft by 23.7% during the fourth quarter. PayPay Securities Corp now owns 188 shares of the software giant’s stock valued at $71,000 after acquiring an additional 36 shares during the last quarter. Finally, Horizon Financial Services LLC bought a new position in Microsoft in the first quarter valued at about $80,000. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Cowen boosted their price target on Microsoft from $470.00 to $495.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Macquarie boosted their target price on shares of Microsoft from $460.00 to $475.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Piper Sandler reiterated an “overweight” rating and issued a $485.00 price target on shares of Microsoft in a research report on Wednesday, July 31st. Tigress Financial boosted their price objective on shares of Microsoft from $475.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Mizuho raised their target price on Microsoft from $450.00 to $480.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and an average price target of $494.72.

Insider Buying and Selling at Microsoft

In other news, insider Bradford L. Smith sold 40,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 544,847 shares in the company, valued at approximately $219,349,953.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Kathleen T. Hogan sold 17,378 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $411.85, for a total value of $7,157,129.30. Following the sale, the executive vice president now directly owns 150,161 shares in the company, valued at $61,843,807.85. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bradford L. Smith sold 40,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $219,349,953.73. The disclosure for this sale can be found here. Insiders have sold 190,629 shares of company stock worth $77,916,485 over the last quarter. Insiders own 0.03% of the company’s stock.

Microsoft Stock Up 0.9 %

Shares of NASDAQ MSFT opened at $427.00 on Friday. The stock has a market capitalization of $3.17 trillion, a price-to-earnings ratio of 36.97, a P/E/G ratio of 2.03 and a beta of 0.90. Microsoft Co. has a 12-month low of $309.45 and a 12-month high of $468.35. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $424.24 and its 200-day moving average price is $423.09.

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

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.