Parkside Financial Bank & Trust Has $21.38 Million Position in Microsoft Co. (NASDAQ:MSFT)

Parkside Financial Bank & Trust grew its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,829 shares of the software giant’s stock after buying an additional 197 shares during the period. Microsoft makes up 3.3% of Parkside Financial Bank & Trust’s portfolio, making the stock its 3rd biggest position. Parkside Financial Bank & Trust’s holdings in Microsoft were worth $21,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc raised its stake in Microsoft by 169.2% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after buying an additional 44 shares during the period. Richardson Capital Management LLC raised its position in shares of Microsoft by 1,290.0% during the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after purchasing an additional 129 shares during the period. Innealta Capital LLC acquired a new stake in shares of Microsoft during the second quarter worth about $75,000. Bellevue Group AG lifted its holdings in shares of Microsoft by 47.5% during the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock valued at $76,000 after purchasing an additional 58 shares in the last quarter. Finally, Horizon Financial Services LLC acquired a new position in shares of Microsoft in the 1st quarter valued at approximately $80,000. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CMO Takeshi Numoto sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total transaction of $1,027,600.00. Following the transaction, the chief marketing officer now directly owns 50,000 shares of the company’s stock, valued at approximately $20,552,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CMO Takeshi Numoto sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $411.04, for a total value of $1,027,600.00. Following the completion of the sale, the chief marketing officer now directly owns 50,000 shares in the company, valued at approximately $20,552,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Satya Nadella sold 78,353 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total value of $32,017,386.39. Following the transaction, the chief executive officer now owns 864,327 shares in the company, valued at approximately $353,189,942.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 190,629 shares of company stock worth $77,916,485 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.

Microsoft Stock Up 0.3 %

Shares of MSFT opened at $418.16 on Monday. Microsoft Co. has a 52 week low of $324.39 and a 52 week high of $468.35. The firm has a market cap of $3.11 trillion, a P/E ratio of 36.20, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. The firm’s 50-day simple moving average is $419.66 and its 200 day simple moving average is $424.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.27 and a current ratio of 1.27.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.05. The business had revenue of $64.73 billion during the quarter, compared to the consensus estimate of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.69 EPS. On average, analysts forecast that Microsoft Co. will post 13.02 earnings per share for the current year.

Microsoft declared that its board has approved a share buyback plan on Monday, September 16th that authorizes the company to repurchase $60.00 billion in shares. This repurchase authorization authorizes the software giant to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Microsoft Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.79%. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, November 21st. Microsoft’s dividend payout ratio (DPR) is currently 28.74%.

Analysts Set New Price Targets

MSFT has been the subject of several research reports. TD Cowen increased their price objective on shares of Microsoft from $470.00 to $495.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Argus increased their target price on Microsoft from $475.00 to $526.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Wedbush restated an “underperform” rating on shares of Microsoft in a report on Friday. BMO Capital Markets increased their price objective on Microsoft from $465.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Microsoft in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $495.68.

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.