Davy Asset Management Ltd decreased its position in shares of Microsoft Corp. (NASDAQ:MSFT) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 501,028 shares of the software giant’s stock after selling 48,277 shares during the period. Microsoft Corp. comprises 5.2% of Davy Asset Management Ltd’s holdings, making the stock its largest position. Davy Asset Management Ltd’s holdings in Microsoft Corp. were worth $27,883,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invictus RG acquired a new position in Microsoft Corp. during the first quarter valued at $107,000. Riggs Asset Managment Co. Inc. increased its position in Microsoft Corp. by 6.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 2,375 shares of the software giant’s stock valued at $122,000 after buying an additional 147 shares during the last quarter. Lowe fs LLC increased its position in Microsoft Corp. by 1.4% in the second quarter. Lowe fs LLC now owns 3,206 shares of the software giant’s stock valued at $164,000 after buying an additional 44 shares during the last quarter. Northstar Group Inc. increased its position in Microsoft Corp. by 0.4% in the second quarter. Northstar Group Inc. now owns 3,953 shares of the software giant’s stock valued at $202,000 after buying an additional 14 shares during the last quarter. Finally, Wrapmanager Inc. acquired a new position in Microsoft Corp. during the first quarter valued at $205,000. Institutional investors own 71.58% of the company’s stock.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 0.3896% during mid-day trading on Monday, reaching $58.0252. The company’s stock had a trading volume of 9,512,527 shares. The company has a market capitalization of $452.16 billion, a price-to-earnings ratio of 27.6310 and a beta of 1.09. Microsoft Corp. has a 1-year low of $46.50 and a 1-year high of $58.70. The company’s 50 day moving average price is $57.48 and its 200-day moving average price is $54.34.
Microsoft Corp. (NASDAQ:MSFT) last issued its earnings results on Tuesday, July 19th. The software giant reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.11. The business earned $22.60 billion during the quarter, compared to the consensus estimate of $22.15 billion. Microsoft Corp. had a return on equity of 29.38% and a net margin of 19.33%. During the same period in the prior year, the business posted $0.60 EPS. Analysts predict that Microsoft Corp. will post $2.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.70%. This is an increase from Microsoft Corp.’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, November 15th. Microsoft Corp.’s dividend payout ratio is 70.24%.
Several research analysts have weighed in on MSFT shares. Cowen and Company restated an “outperform” rating and issued a $60.00 price target on shares of Microsoft Corp. in a research note on Friday, September 30th. Credit Agricole SA restated an “outperform” rating and issued a $60.00 price target on shares of Microsoft Corp. in a research note on Wednesday, October 5th. Vetr upgraded Microsoft Corp. from a “hold” rating to a “buy” rating and set a $59.88 price target for the company in a research note on Thursday, September 8th. Goldman Sachs Group Inc. set a $55.00 price objective on Microsoft Corp. and gave the stock a “neutral” rating in a report on Wednesday, June 29th. Finally, Jefferies Group set a $40.00 price objective on Microsoft Corp. and gave the stock a “sell” rating in a report on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $59.41.
In other news, Director William H. Gates III sold 2,500,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $55.94, for a total transaction of $139,850,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Satya Nadella sold 143,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $57.97, for a total value of $8,289,710.00. Following the transaction, the chief executive officer now directly owns 1,200,822 shares of the company’s stock, valued at $69,611,651.34. The disclosure for this sale can be found here. Insiders own 3.76% of the company’s stock.
About Microsoft Corp.
Microsoft Corporation is a technology company. The Company develops, licenses and supports a range of software products, services and devices. Its segments are Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Its products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.
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