CCG Wealth Management LLC Raises Position in Microsoft Co. (NASDAQ:MSFT)

CCG Wealth Management LLC boosted its stake in Microsoft Co. (NASDAQ:MSFT) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 12,260 shares of the software giant’s stock after acquiring an additional 161 shares during the period. Microsoft makes up approximately 2.9% of CCG Wealth Management LLC’s holdings, making the stock its 7th largest holding. CCG Wealth Management LLC’s holdings in Microsoft were worth $5,167,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Microsoft by 2.0% during the third quarter. Geode Capital Management LLC now owns 165,024,812 shares of the software giant’s stock valued at $70,790,682,000 after acquiring an additional 3,264,648 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Microsoft by 4.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 54,590,791 shares of the software giant’s stock worth $23,490,417,000 after purchasing an additional 2,125,030 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Microsoft by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,229,125 shares of the software giant’s stock valued at $20,322,513,000 after purchasing an additional 652,493 shares during the period. International Assets Investment Management LLC increased its position in shares of Microsoft by 48,526.1% during the 3rd quarter. International Assets Investment Management LLC now owns 38,501,645 shares of the software giant’s stock valued at $16,567,258,000 after purchasing an additional 38,422,466 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Microsoft by 1.1% in the 3rd quarter. Franklin Resources Inc. now owns 38,420,657 shares of the software giant’s stock worth $16,104,959,000 after purchasing an additional 406,940 shares during the period. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Microsoft Price Performance

Shares of Microsoft stock opened at $378.80 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.13. Microsoft Co. has a 12 month low of $376.91 and a 12 month high of $468.35. The stock has a 50 day moving average of $405.52 and a 200 day moving average of $418.97. The firm has a market cap of $2.82 trillion, a PE ratio of 30.50, a PEG ratio of 2.21 and a beta of 0.92.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, January 29th. The software giant reported $3.23 EPS for the quarter, beating 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 company posted $2.93 earnings per share. On average, research analysts expect that Microsoft Co. will post 13.08 EPS for the current fiscal year.

Microsoft Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be issued a $0.83 dividend. The ex-dividend date is Thursday, May 15th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.88%. Microsoft’s dividend payout ratio (DPR) is presently 26.73%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MSFT. Piper Sandler restated an “overweight” rating and set a $520.00 target price on shares of Microsoft in a research report on Monday, January 27th. Stifel Nicolaus cut their price objective on shares of Microsoft from $515.00 to $475.00 and set a “buy” rating for the company in a research report on Friday, March 7th. DA Davidson raised Microsoft from a “neutral” rating to a “buy” rating and raised their target price for the stock from $425.00 to $450.00 in a report on Thursday, March 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 target price on shares of Microsoft in a research report on Thursday, January 30th. Finally, Scotiabank initiated coverage on Microsoft in a research report on Thursday, March 20th. They issued a “sector outperform” rating and a $470.00 price target for the company. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $510.59.

About Microsoft

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.