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Pitti Group Wealth Management LLC Has $1.37 Million Stock Position in Microsoft Co. (NASDAQ:MSFT)

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Pitti Group Wealth Management LLC grew its position in Microsoft Co. (NASDAQ:MSFTGet Rating) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,452 shares of the software giant’s stock after acquiring an additional 239 shares during the quarter. Microsoft accounts for about 1.6% of Pitti Group Wealth Management LLC’s holdings, making the stock its 18th largest position. Pitti Group Wealth Management LLC’s holdings in Microsoft were worth $1,373,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MSFT. State Street Corp boosted its holdings in Microsoft by 2.8% during the fourth quarter. State Street Corp now owns 302,541,869 shares of the software giant’s stock valued at $101,750,881,000 after purchasing an additional 8,108,943 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Microsoft by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 129,107,118 shares of the software giant’s stock worth $43,313,705,000 after buying an additional 3,027,306 shares during the period. Norges Bank bought a new stake in Microsoft in the fourth quarter valued at $24,401,940,000. Nuveen Asset Management LLC raised its stake in Microsoft by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 57,181,533 shares of the software giant’s stock worth $19,231,292,000 after acquiring an additional 584,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Microsoft by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 39,096,786 shares of the software giant’s stock valued at $13,149,038,000 after acquiring an additional 652,526 shares during the period. Institutional investors and hedge funds own 69.99% of the company’s stock.

Microsoft Stock Down 1.1 %

Shares of NASDAQ:MSFT opened at $274.82 on Wednesday. The company has a 50 day moving average price of $262.01 and a two-hundred day moving average price of $280.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 1.78. The company has a market capitalization of $2.05 trillion, a PE ratio of 28.51, a PEG ratio of 2.36 and a beta of 0.93. Microsoft Co. has a 52 week low of $241.51 and a 52 week high of $349.67.

Microsoft (NASDAQ:MSFTGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The software giant reported $2.23 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.06). Microsoft had a return on equity of 43.31% and a net margin of 36.69%. During the same period last year, the company posted $2.17 EPS. Analysts forecast that Microsoft Co. will post 10.14 earnings per share for the current year.

Microsoft Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be given a $0.62 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $2.48 annualized dividend and a dividend yield of 0.90%. Microsoft’s dividend payout ratio is presently 25.73%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler dropped their target price on shares of Microsoft from $352.00 to $312.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Royal Bank of Canada set a $380.00 target price on Microsoft in a report on Thursday, May 19th. Wedbush dropped their price target on Microsoft from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. UBS Group set a $330.00 price objective on Microsoft in a research note on Monday, June 20th. Finally, Morgan Stanley cut their price target on Microsoft from $372.00 to $354.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. One analyst has rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Microsoft currently has an average rating of “Moderate Buy” and a consensus price target of $334.47.

Microsoft Profile

(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.

See Also

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