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Castle Rock Wealth Management LLC Sells 2,570 Shares of Microsoft Co. (NASDAQ:MSFT)

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Castle Rock Wealth Management LLC decreased its holdings in shares of Microsoft Co. (NASDAQ:MSFTGet Rating) by 14.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 15,121 shares of the software giant’s stock after selling 2,570 shares during the period. Microsoft makes up approximately 2.0% of Castle Rock Wealth Management LLC’s investment portfolio, making the stock its 8th largest holding. Castle Rock Wealth Management LLC’s holdings in Microsoft were worth $4,315,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in Microsoft by 5.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 134,115 shares of the software giant’s stock worth $42,237,000 after purchasing an additional 7,210 shares during the period. Arbor Investment Advisors LLC increased its position in Microsoft by 12.6% during the 1st quarter. Arbor Investment Advisors LLC now owns 12,142 shares of the software giant’s stock worth $3,743,000 after purchasing an additional 1,357 shares during the period. Dfpg Investments LLC increased its position in Microsoft by 22.9% during the 1st quarter. Dfpg Investments LLC now owns 27,038 shares of the software giant’s stock worth $7,585,000 after purchasing an additional 5,030 shares during the period. Allworth Financial LP increased its position in Microsoft by 41.4% during the 1st quarter. Allworth Financial LP now owns 147,385 shares of the software giant’s stock worth $45,441,000 after purchasing an additional 43,189 shares during the period. Finally, Elk River Wealth Management LLC increased its position in Microsoft by 4.8% during the 1st quarter. Elk River Wealth Management LLC now owns 55,203 shares of the software giant’s stock worth $17,020,000 after purchasing an additional 2,544 shares during the period. Institutional investors and hedge funds own 69.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MSFT shares. Citigroup lowered their price target on Microsoft from $364.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday. Stifel Nicolaus lowered their price target on Microsoft from $350.00 to $320.00 in a report on Thursday, June 2nd. Fundamental Research lowered their price target on Microsoft from $299.93 to $298.00 and set a “hold” rating on the stock in a report on Tuesday, May 3rd. Redburn Partners started coverage on Microsoft in a report on Wednesday, June 29th. They issued a “buy” rating and a $370.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target on Microsoft from $425.00 to $400.00 and set an “overweight” rating on the stock in a report on Tuesday, April 19th. One equities research analyst has rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Microsoft currently has a consensus rating of “Moderate Buy” and an average price target of $346.52.

Microsoft Trading Down 1.7 %

Shares of Microsoft stock opened at $260.36 on Friday. The firm has a market cap of $1.95 trillion, a PE ratio of 27.18, a P/E/G ratio of 2.03 and a beta of 0.93. The company has a quick ratio of 1.95, a current ratio of 1.99 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average is $260.39 and its two-hundred day moving average is $283.19. Microsoft Co. has a fifty-two week low of $241.51 and a fifty-two week high of $349.67.

Microsoft (NASDAQ:MSFTGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The software giant reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.04. The business had revenue of $49.36 billion during the quarter, compared to the consensus estimate of $49.05 billion. Microsoft had a return on equity of 44.85% and a net margin of 37.63%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.95 EPS. Analysts anticipate that Microsoft Co. will post 9.27 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 8th. Stockholders of record on Thursday, August 18th will be issued a dividend of $0.62 per share. The ex-dividend date is Wednesday, August 17th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.95%. Microsoft’s payout ratio is 25.89%.

About Microsoft

(Get Rating)

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.

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