Independent Wealth Network Inc. increases stock position in Microsoft Co. (NASDAQ:MSFT)

VaselineAugust 25, 2024

0 4 minutes read

Independent Wealth Network Inc. increased its stake in Microsoft Co. (NASDAQ:MSFT – Free Report) by 11.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,685 shares of the software giant’s stock after purchasing an additional 1,107 shares during the period. Microsoft accounts for 2.1% of Independent Wealth Network Inc.’s holdings, making the stock its 6th largest holding. Holdings held by Independent Wealth Network Inc. holdings in Microsoft were worth $4,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. BetterWealth LLC boosted its holdings in Microsoft by 2.2% during the fourth quarter. BetterWealth LLC now owns 5,137 shares of the software giant’s stock worth $1,932,000 after purchasing an additional 109 shares during the last quarter. Planning Alternatives Ltd. ADV boosted its holdings in shares of Microsoft by 1.1% in the fourth quarter. Planning Alternatives Ltd. ADV now owns 5,095 shares of the software giant’s stock worth $1,916,000 after acquiring an additional 54 shares in the last quarter. North Point Portfolio Managers Corp OH grew its position in Microsoft by 10.2% in the fourth quarter. North Point Portfolio Managers Corp OH now owns 4,844 shares of the software giant’s stock valued at $1,821,000 after acquiring an additional 447 shares in the last quarter. LVZ Inc. boosted its stake in Microsoft by 23.1% during the fourth quarter. LVZ Inc. now owns 3,017 shares of the software giant’s stock valued at $1,135,000 after purchasing an additional 566 shares during the last quarter. Finally, Trust Point Inc. bought a new stake in Microsoft during the fourth quarter valued at approximately $16,268,000. Institutional investors and hedge funds own 71.13% of the company’s shares.

Microsoft stock down 2.0%

Shares of Microsoft stock opened at $415.55 on Friday. The firm has a market cap of $3.09 trillion, a price-to-earnings ratio of 35.98, a P/E/G ratio of 2.11 and a beta of 0.90. The firm has a 50-day simple moving average of $435.57 and a 200-day simple moving average of $422.62. Microsoft Co. has a 1 year low of $309.45 and a 1 year high of $468.35. The company has a current ratio of 1.27, a quick ratio of 1.23, and a debt-to-equity ratio of 0.16.

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Microsoft (NASDAQ:MSFT – Get Free Report ) last announced its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.05. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The company had revenue of $64.73 billion during the quarter, compared to analysts’ expectations of $64.38 billion. In the same period last year, the company earned $2.69 per share. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts predict that Microsoft Co. will post 13.04 earnings per share for the current year.

Microsoft dividend announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, August 15. This represents a dividend of $3.00 on an annualized basis and a dividend yield of 0.72%. Microsoft’s dividend payout ratio (DPR) is currently 25.97%.

Insider work at Microsoft

In other Microsoft news, CMO Takeshi Numoto sold 244 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $415.53, for a total value of $101,389.32. Following the sale, the chief marketing officer now directly owns 47,011 shares in the company, valued at approximately $19,534,480.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. 0.03% of shares are held by corporate insiders.

Analyst upgrades and downgrades

MSFT has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on Microsoft from $520.00 to $506.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Raymond James reiterated an “outperform” rating and set a $480.00 price objective (up from $450.00) on shares of Microsoft in a research note on Friday, April 26th. Sanford C. Bernstein upped their target price on shares of Microsoft from $465.00 to $489.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. New Street Research began coverage on shares of Microsoft in a research report on Monday, June 10th. They set a “buy” rating and a $570.00 price target on the stock. Finally, UBS Group decreased their price objective on shares of Microsoft from $520.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. . Two investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. Microsoft currently has a consensus rating of “Moderate Buy” and a consensus price target of $494.72, according to MarketBeat .

Get the latest stock analysis on Microsoft

About Microsoft

(Free report)

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 consumer office services, such as Microsoft 365 consumer subscriptions, on-premise Office licensing, and other office services.