Park Place Capital Corp Has $7.34 Million Holdings in Microsoft Co. (NASDAQ:MSFT)

Park Place Capital Corp cut its stake in Microsoft Co. (NASDAQ:MSFT - Free Report) by 10.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,418 shares of the software giant's stock after selling 1,864 shares during the quarter. Microsoft comprises about 2.3% of Park Place Capital Corp's portfolio, making the stock its 7th biggest position. Park Place Capital Corp's holdings in Microsoft were worth $7,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transcend Capital Advisors LLC grew its stake in Microsoft by 5.5% during the 2nd quarter. Transcend Capital Advisors LLC now owns 104,848 shares of the software giant's stock worth $46,862,000 after buying an additional 5,420 shares during the last quarter. Centre Asset Management LLC grew its stake in Microsoft by 1.4% during the 2nd quarter. Centre Asset Management LLC now owns 68,459 shares of the software giant's stock worth $30,598,000 after buying an additional 945 shares during the last quarter. Waller Financial Planning Group Inc. grew its stake in Microsoft by 2.3% during the 2nd quarter. Waller Financial Planning Group Inc. now owns 1,320 shares of the software giant's stock worth $590,000 after buying an additional 30 shares during the last quarter. Capital Market Strategies LLC grew its stake in Microsoft by 108.3% during the 2nd quarter. Capital Market Strategies LLC now owns 31,074 shares of the software giant's stock worth $13,889,000 after buying an additional 16,157 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new position in Microsoft during the 1st quarter worth $2,818,000. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Microsoft Stock Performance

Microsoft stock traded down $3.30 during mid-day trading on Monday, reaching $413.49. 13,134,706 shares of the company were exchanged, compared to its average volume of 20,847,697. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.27. The firm's 50-day simple moving average is $434.36 and its two-hundred day simple moving average is $422.87. The firm has a market cap of $3.07 trillion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.90. Microsoft Co. has a twelve month low of $309.45 and a twelve month high of $468.35.

Microsoft (NASDAQ:MSFT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 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 analysts' expectations of $64.38 billion. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The company's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm earned $2.69 EPS. Equities analysts predict that Microsoft Co. will post 13.04 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th will be issued a $0.75 dividend. The ex-dividend date is Thursday, August 15th. This represents a $3.00 annualized dividend and a dividend yield of 0.73%. Microsoft's dividend payout ratio is currently 25.97%.

Wall Street Analyst Weigh In

MSFT has been the subject of a number of research reports. Argus lifted their price target on Microsoft from $475.00 to $526.00 and gave the stock a "buy" rating in a research report on Tuesday, July 9th. Mizuho lifted their price target on Microsoft from $450.00 to $480.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 16th. New Street Research began coverage on Microsoft in a report on Monday, June 10th. They issued a "buy" rating and a $570.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $500.00 price objective on shares of Microsoft in a report on Wednesday, July 31st. Finally, Citigroup decreased their price objective on Microsoft from $520.00 to $500.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. According to data from MarketBeat.com, Microsoft currently has an average rating of "Moderate Buy" and an average price target of $494.72.

Insider Activity

In related news, CMO Takeshi Numoto sold 244 shares of the firm's stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $415.53, for a total value of $101,389.32. Following the completion of the transaction, the chief marketing officer now directly owns 47,011 shares of the company's stock, valued at approximately $19,534,480.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Satya Nadella sold 14,398 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $417.41, for a total value of $6,009,869.18. Following the completion of the transaction, the chief executive officer now directly owns 786,933 shares of the company's stock, valued at approximately $328,473,703.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Takeshi Numoto sold 244 shares of the firm's stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $415.53, for a total value of $101,389.32. Following the completion of the transaction, the chief marketing officer now directly owns 47,011 shares of the company's stock, valued at $19,534,480.83. The disclosure for this sale can be found here. Insiders sold 14,964 shares of company stock valued at $6,245,404 in the last three months. 0.03% of the stock is currently owned by company insiders.

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.