Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp decreased its position in shares of Microsoft Corp. (NASDAQ:MSFT) by 3.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,579,600 shares of the software giant’s stock after selling 59,000 shares during the period. Microsoft Corp. makes up approximately 0.9% of Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s portfolio, making the stock its 22nd largest position. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Microsoft Corp. were worth $80,828,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MSFT. Invictus RG purchased a new stake in shares of Microsoft Corp. during the first quarter worth about $107,000. Riggs Asset Managment Co. Inc. raised its stake in shares of 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 worth $122,000 after buying an additional 147 shares during the last quarter. Lowe fs LLC raised its stake in shares of Microsoft Corp. by 1.4% in the second quarter. Lowe fs LLC now owns 3,206 shares of the software giant’s stock worth $164,000 after buying an additional 44 shares during the last quarter. Wrapmanager Inc. purchased a new stake in shares of Microsoft Corp. during the first quarter worth about $205,000. Finally, CLS Investments LLC raised its stake in shares of Microsoft Corp. by 616.5% in the first quarter. CLS Investments LLC now owns 3,726 shares of the software giant’s stock worth $206,000 after buying an additional 3,206 shares during the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.
Microsoft Corp. (NASDAQ:MSFT) traded up 0.79% during midday trading on Tuesday, hitting $57.67. 5,635,660 shares of the stock traded hands. The company has a 50-day moving average price of $57.38 and a 200-day moving average price of $54.46. The firm has a market cap of $449.39 billion, a P/E ratio of 27.46 and a beta of 1.09. Microsoft Corp. has a 1-year low of $47.02 and a 1-year high of $58.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 2.73%. This is a boost from Microsoft Corp.’s previous quarterly dividend of $0.36. Microsoft Corp.’s payout ratio is currently 70.24%.
A number of brokerages recently issued reports on MSFT. BMO Capital Markets reiterated a “buy” rating and issued a $57.00 price target on shares of Microsoft Corp. in a report on Sunday, July 17th. Nomura restated a “buy” rating on shares of Microsoft Corp. in a report on Sunday, July 17th. Zacks Investment Research lowered Microsoft Corp. from a “buy” rating to a “hold” rating in a report on Tuesday. Vetr upgraded Microsoft Corp. from a “hold” rating to a “buy” rating and set a $59.88 target price for the company in a report on Thursday, September 8th. Finally, Citigroup Inc. upped their target price on Microsoft Corp. from $37.00 to $40.00 and gave the stock a “sell” rating in a report on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $59.62.
In other news, CFO Amy Hood sold 120,000 shares of Microsoft Corp. stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $57.86, for a total value of $6,943,200.00. Following the transaction, the chief financial officer now owns 523,425 shares of the company’s stock, valued at approximately $30,285,370.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Satya Nadella sold 143,000 shares of Microsoft Corp. stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $57.97, for a total transaction of $8,289,710.00. Following the completion of the transaction, the chief executive officer now directly owns 1,200,822 shares in the company, valued at approximately $69,611,651.34. The disclosure for this sale can be found here. 3.76% of the stock is currently owned by insiders.
Microsoft Corp. Company Profile
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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