Legacy Financial Group LLC Purchases Shares of 8,625 Microsoft Co. (NASDAQ:MSFT)

Legacy Financial Group LLC purchased a new stake in Microsoft Co. (NASDAQ:MSFT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,625 shares of the software giant’s stock, valued at approximately $3,635,000.

Other hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc raised its position in shares of Microsoft by 35.7% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 95 shares of the software giant’s stock worth $39,000 after acquiring an additional 25 shares in the last quarter. IFS Advisors LLC raised its position in shares of Microsoft by 53.8% during the 4th quarter. IFS Advisors LLC now owns 100 shares of the software giant’s stock worth $42,000 after acquiring an additional 35 shares in the last quarter. Avondale Wealth Management raised its position in shares of Microsoft by 144.4% during the 4th quarter. Avondale Wealth Management now owns 110 shares of the software giant’s stock worth $46,000 after acquiring an additional 65 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Microsoft during the 3rd quarter worth about $62,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Microsoft during the 4th quarter worth about $141,000. Institutional investors and hedge funds own 71.13% of the company’s stock.

Microsoft Stock Up 2.6 %

Microsoft stock opened at $388.56 on Monday. The stock’s 50 day moving average price is $412.43 and its 200 day moving average price is $420.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34. The company has a market cap of $2.89 trillion, a PE ratio of 31.29, a price-to-earnings-growth ratio of 2.21 and a beta of 0.92. Microsoft Co. has a 1-year low of $376.91 and a 1-year high of $468.35.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, January 29th. The software giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business earned $2.93 EPS. On average, sell-side analysts predict that Microsoft Co. will post 13.08 EPS for the current fiscal year.

Microsoft Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 15th will be given 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 payout ratio is 26.73%.

Wall Street Analysts Forecast Growth

MSFT has been the topic of several research analyst reports. Stifel Nicolaus cut their target price on Microsoft from $515.00 to $475.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Mizuho cut their price target on Microsoft from $510.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley cut their price target on Microsoft from $540.00 to $530.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 price target on shares of Microsoft in a research report on Thursday, January 30th. Finally, UBS Group cut their price target on Microsoft from $525.00 to $510.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, Microsoft has an average rating of “Moderate Buy” and an average target price of $510.43.

Microsoft Company 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.