IRON Financial LLC has significantly increased its investment in Microsoft Corporation (NASDAQ: MSFT), acquiring an additional 1,225 shares during the third quarter of 2023. This move represents a 23.2% increase in the firm’s holdings, bringing the total to 6,510 shares. As of its latest filing with the Securities and Exchange Commission (SEC), the value of these shares stands at approximately $3,372,000, making Microsoft the firm’s 14th largest investment, comprising 1.6% of their overall portfolio.
Other institutional investors have also shown increased interest in Microsoft. For instance, WFA Asset Management Corp boosted its stake by 27.0% in the first quarter, acquiring 216 shares to reach a total of 1,016 shares, valued at $427,000. Similarly, Ironwood Wealth Management LLC raised its position by 0.3% during the second quarter, now holding 12,658 shares worth $5,658,000 after adding 38 shares.
Another notable increase came from Discipline Wealth Solutions LLC, which expanded its holdings by an impressive 410.4% in the third quarter, owning now 2,659 shares valued at $1,144,000. Additionally, Wealth Group Ltd. and Eagle Capital Management LLC increased their positions in Microsoft by 1.2% and 0.4%, respectively, with significant investments in recent months.
As of now, institutional and hedge funds collectively hold 71.13% of Microsoft’s stock, indicating strong institutional confidence in the software giant.
Recent Insider Transactions
On December 2, 2023, Judson Althoff, Microsoft’s CEO, sold 12,750 shares at an average price of $491.52, totaling approximately $6,266,880. Following this transaction, Althoff retains 129,349 shares, valued around $63,577,620.48, marking an 8.97% decrease in his stake. Similarly, Takeshi Numoto, Executive Vice President, sold 2,850 shares on December 4, 2023, for $1,364,352, reducing his ownership by 4.86%.
In total, insiders have sold 54,100 shares in the last ninety days, amounting to $27,598,872. Currently, corporate insiders own just 0.03% of Microsoft stock.
Market Performance and Earnings Report
Microsoft’s stock opened at $430.29 on Friday, reflecting a 0.7% decline. The company boasts a market capitalization of $3.20 trillion and a P/E ratio of 26.91. Over the past twelve months, Microsoft shares have fluctuated between a low of $344.79 and a high of $555.45. The firm reported a quarterly revenue of $81.27 billion, exceeding analysts’ expectations of $80.28 billion, with earnings per share of $4.14, surpassing the consensus estimate by $0.28.
Additionally, Microsoft plans to issue a quarterly dividend of $0.91 per share, which will be paid on March 12, 2024, to shareholders on record as of February 19, 2024. This dividend represents an annualized yield of 0.8% and underscores the company’s strong financial position with a dividend payout ratio of 22.76%.
Founded in 1975 by Bill Gates and Paul Allen, Microsoft Corporation is a leading global technology company headquartered in Redmond, Washington. It develops a diverse range of software products and services, including the widely used Windows operating system and the Microsoft 365 suite.
As market dynamics evolve, Microsoft continues to attract both institutional and retail investors, reflecting its robust financial health and growth potential.