Abundance Wealth Counselors Acquires 521 Shares of Microsoft Co. (NASDAQ:MSFT)

Abundance Wealth Counselors raised its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 2.5% during the fourth quarter, HoldingsChannel reports. The fund owned 21,136 shares of the software giant’s stock after purchasing an additional 521 shares during the quarter. Microsoft comprises about 1.9% of Abundance Wealth Counselors’ investment portfolio, making the stock its 11th biggest holding. Abundance Wealth Counselors’ holdings in Microsoft were worth $8,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MSFT. Net Worth Advisory Group purchased a new position in Microsoft during the third quarter valued at approximately $2,645,000. Oak Ridge Investments LLC grew its position in shares of Microsoft by 7.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 263,534 shares of the software giant’s stock valued at $113,399,000 after purchasing an additional 18,544 shares in the last quarter. Focus Financial Network Inc. raised its position in shares of 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. Campbell Wealth Management bought a new stake in Microsoft during the third quarter valued at $3,314,000. Finally, Evernest Financial Advisors LLC grew its position in Microsoft by 389.2% during the third quarter. Evernest Financial Advisors LLC now owns 53,770 shares of the software giant’s stock worth $23,137,000 after buying an additional 42,778 shares in the last quarter. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MSFT shares. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 price target on shares of Microsoft in a research report on Thursday, January 30th. Stifel Nicolaus decreased their price target on shares of Microsoft from $515.00 to $475.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Guggenheim reaffirmed a “neutral” rating on shares of Microsoft in a report on Friday, January 24th. Tigress Financial raised their price target on Microsoft from $550.00 to $595.00 and gave the company a “buy” rating in a research report on Thursday, March 20th. Finally, DA Davidson upgraded Microsoft from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $425.00 to $450.00 in a report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $510.59.

Microsoft Trading Down 1.3 %

MSFT opened at $389.97 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. Microsoft Co. has a 52 week low of $376.91 and a 52 week high of $468.35. The stock has a market cap of $2.90 trillion, a PE ratio of 31.40, a PEG ratio of 2.21 and a beta of 0.92. The business has a 50 day moving average of $407.20 and a 200-day moving average of $419.45.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Wednesday, January 29th. The software giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.08. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. During the same period in the prior year, the business earned $2.93 earnings per share. Equities research analysts predict that Microsoft Co. will post 13.08 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 15th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 15th. Microsoft’s payout ratio is currently 26.73%.

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.