Glass Wealth Management Co LLC Raises Position in Microsoft Co. (NASDAQ:MSFT)

Glass Wealth Management Co LLC grew its position in shares of Microsoft Co. (NASDAQ:MSFT) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,652 shares of the software giant’s stock after purchasing an additional 485 shares during the period. Microsoft makes up 7.1% of Glass Wealth Management Co LLC’s portfolio, making the stock its 2nd biggest holding. Glass Wealth Management Co LLC’s holdings in Microsoft were worth $12,759,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Net Worth Advisory Group purchased a new position in Microsoft in the third quarter worth $2,645,000. Oak Ridge Investments LLC boosted its position in Microsoft by 7.6% during the third quarter. Oak Ridge Investments LLC now owns 263,534 shares of the software giant’s stock valued at $113,399,000 after buying an additional 18,544 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Microsoft by 1.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,975,200 shares of the software giant’s stock valued at $882,816,000 after acquiring an additional 31,401 shares during the last quarter. Jacobs & Co. CA raised its stake in shares of Microsoft by 0.9% during the third quarter. Jacobs & Co. CA now owns 96,021 shares of the software giant’s stock valued at $41,318,000 after acquiring an additional 880 shares during the last quarter. Finally, Focus Financial Network Inc. raised its stake in Microsoft by 2.0% in the third quarter. Focus Financial Network Inc. now owns 76,296 shares of the software giant’s stock worth $32,830,000 after buying an additional 1,489 shares in the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MSFT has been the subject of a number of research reports. Piper Sandler increased their price target on shares of Microsoft from $470.00 to $520.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Stifel Nicolaus raised their target price on shares of Microsoft from $475.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. BMO Capital Markets decreased their price target on shares of Microsoft from $500.00 to $495.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Cantor Fitzgerald assumed coverage on shares of Microsoft in a research report on Friday, January 17th. They issued an “overweight” rating and a $509.00 price target on the stock. Finally, Wells Fargo & Company restated a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Microsoft currently has a consensus rating of “Moderate Buy” and a consensus price target of $512.66.

Insider Buying and Selling

In other news, CMO Takeshi Numoto sold 1,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $414.72, for a total value of $414,720.00. Following the sale, the chief marketing officer now owns 57,511 shares in the company, valued at $23,850,961.92. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher David Young sold 7,200 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total transaction of $3,050,352.00. Following the completion of the sale, the executive vice president now owns 103,366 shares in the company, valued at $43,792,039.56. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,200 shares of company stock worth $17,383,892 in the last 90 days. 0.03% of the stock is owned by corporate insiders.

Microsoft Price Performance

MSFT stock opened at $446.71 on Friday. Microsoft Co. has a 12 month low of $385.58 and a 12 month high of $468.35. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $430.07 and a 200 day moving average price of $425.55. The stock has a market cap of $3.32 trillion, a PE ratio of 36.86, a P/E/G ratio of 2.28 and a beta of 0.90.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.20. The company had revenue of $65.59 billion during the quarter, compared to analysts’ expectations of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.99 EPS. Equities research analysts anticipate that Microsoft Co. will post 12.91 earnings per share for the current year.

Microsoft Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.32 annualized dividend and a dividend yield of 0.74%. Microsoft’s dividend payout ratio is currently 27.39%.

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.