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Microsoft Co. (NASDAQ:MSFT) Shares Acquired by Destination Wealth Management

Destination Wealth Management grew its stake in Microsoft Co. (NASDAQ:MSFTGet Rating) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,433 shares of the software giant’s stock after acquiring an additional 1,663 shares during the quarter. Microsoft comprises approximately 2.0% of Destination Wealth Management’s investment portfolio, making the stock its 13th biggest position. Destination Wealth Management’s holdings in Microsoft were worth $54,396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Birchcreek Wealth Management LLC increased its position in shares of Microsoft by 3.0% during the 4th quarter. Birchcreek Wealth Management LLC now owns 6,765 shares of the software giant’s stock worth $2,275,000 after purchasing an additional 200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Microsoft by 13.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,842,870 shares of the software giant’s stock worth $1,630,268,000 after purchasing an additional 577,734 shares during the last quarter. GraniteShares Advisors LLC acquired a new stake in shares of Microsoft during the 4th quarter worth about $12,065,000. Perennial Advisors LLC increased its position in shares of Microsoft by 6.6% during the 4th quarter. Perennial Advisors LLC now owns 62,017 shares of the software giant’s stock worth $20,857,000 after purchasing an additional 3,861 shares during the last quarter. Finally, Versor Investments LP increased its position in shares of Microsoft by 31.6% during the 4th quarter. Versor Investments LP now owns 1,746 shares of the software giant’s stock worth $587,000 after purchasing an additional 419 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MSFT has been the subject of a number of recent analyst reports. Redburn Partners initiated coverage on Microsoft in a research report on Wednesday, June 29th. They set a “buy” rating and a $370.00 price objective for the company. Royal Bank of Canada set a $380.00 price objective on Microsoft in a research report on Thursday, May 19th. Piper Sandler dropped their target price on Microsoft from $352.00 to $312.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Itaú Unibanco started coverage on Microsoft in a research report on Tuesday, July 26th. They issued an “outperform” rating and a $287.00 target price for the company. Finally, Wolfe Research dropped their target price on Microsoft from $320.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, July 29th. Two investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $334.31.

Microsoft Price Performance

MSFT stock opened at $258.09 on Thursday. The business has a 50 day moving average price of $269.95 and a 200 day moving average price of $275.90. The stock has a market cap of $1.92 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.16 and a beta of 0.94. Microsoft Co. has a fifty-two week low of $241.51 and a fifty-two week high of $349.67. The company has a quick ratio of 1.75, a current ratio of 1.78 and a debt-to-equity ratio of 0.28.

Microsoft (NASDAQ:MSFTGet Rating) last posted its earnings results on Tuesday, July 26th. The software giant reported $2.23 earnings per share 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 in the previous year, the firm posted $2.17 EPS. Equities research analysts anticipate that Microsoft Co. will post 10.14 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, August 17th. Microsoft’s dividend payout ratio (DPR) is 25.73%.

Microsoft Profile

(Get Rating)

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; 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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