Microsoft Co. (NASDAQ:MSFT) Shares Purchased by Riggs Asset Managment Co. Inc.

Riggs Asset Managment Co. Inc. grew its holdings in Microsoft Co. (NASDAQ:MSFT) by 2.1% in the 4th quarter, HoldingsChannel reports. The firm owned 18,828 shares of the software giant’s stock after purchasing an additional 379 shares during the quarter. Microsoft makes up 2.1% of Riggs Asset Managment Co. Inc.’s holdings, making the stock its 16th biggest holding. Riggs Asset Managment Co. Inc.’s holdings in Microsoft were worth $7,999,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BCK Partners Inc. grew its holdings in Microsoft by 1.8% during the third quarter. BCK Partners Inc. now owns 1,353 shares of the software giant’s stock worth $582,000 after acquiring an additional 24 shares during the period. Sequent Asset Management LLC boosted its position in shares of Microsoft by 1.3% during the 3rd quarter. Sequent Asset Management LLC now owns 1,983 shares of the software giant’s stock worth $853,000 after purchasing an additional 25 shares in the last quarter. Cypress Point Wealth Management LLC grew its stake in shares of Microsoft by 0.8% during the 3rd quarter. Cypress Point Wealth Management LLC now owns 3,208 shares of the software giant’s stock worth $1,380,000 after purchasing an additional 25 shares during the period. Riverstone Advisors LLC increased its holdings in shares of Microsoft by 0.6% in the 3rd quarter. Riverstone Advisors LLC now owns 4,510 shares of the software giant’s stock valued at $1,941,000 after purchasing an additional 25 shares in the last quarter. Finally, Boulder Wealth Advisors LLC lifted its stake in shares of Microsoft by 1.0% in the third quarter. Boulder Wealth Advisors LLC now owns 2,569 shares of the software giant’s stock valued at $1,106,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $509.00 target price on shares of Microsoft in a research report on Wednesday, January 29th. Stifel Nicolaus dropped their price objective on Microsoft from $515.00 to $475.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Mizuho decreased their target price on Microsoft from $510.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. UBS Group lowered their target price on Microsoft from $525.00 to $510.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 price target on shares of Microsoft in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. Based on data from MarketBeat, Microsoft presently has an average rating of “Moderate Buy” and an average price target of $510.59.

Microsoft Stock Up 0.2 %

Shares of MSFT stock opened at $390.58 on Friday. Microsoft Co. has a 12 month low of $376.91 and a 12 month high of $468.35. The company has a quick ratio of 1.34, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.90 trillion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 2.21 and a beta of 0.92. The stock has a 50 day moving average of $406.52 and a 200-day moving average of $419.25.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Wednesday, January 29th. The software giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $2.93 EPS. On average, equities analysts predict that Microsoft Co. will post 13.08 EPS for the current year.

Microsoft Dividend Announcement

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