Veritas Asset Management LLP increased its position in shares of Microsoft Corp. (NASDAQ:MSFT) by 0.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,237,143 shares of the software giant’s stock after buying an additional 66,570 shares during the period. Microsoft Corp. accounts for 6.3% of Veritas Asset Management LLP’s portfolio, making the stock its 5th largest position. Veritas Asset Management LLP owned approximately 0.14% of Microsoft Corp. worth $575,005,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sun Life Financial INC bought a new position in shares of Microsoft Corp. during the first quarter worth about $45,178,000. Invictus RG purchased a new stake in Microsoft Corp. during the first quarter worth $107,000. Riggs Asset Managment Co. Inc. raised its stake 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 worth $122,000 after buying an additional 147 shares in the last quarter. Lowe fs LLC raised its stake in 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 in the last quarter. Finally, Wrapmanager Inc. purchased a new stake in Microsoft Corp. during the first quarter worth $205,000. 71.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded down 0.67% during midday trading on Friday, hitting $57.43. 19,955,336 shares of the stock traded hands. Microsoft Corp. has a 52-week low of $43.05 and a 52-week high of $58.70. The stock has a 50-day moving average of $57.58 and a 200-day moving average of $54.03. The company has a market cap of $447.52 billion, a price-to-earnings ratio of 27.35 and a beta of 1.08.
Microsoft Corp. (NASDAQ:MSFT) last posted its quarterly earnings results on Tuesday, July 19th. The software giant reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.11. The firm had revenue of $22.60 billion for the quarter, compared to analyst estimates of $22.15 billion. Microsoft Corp. had a net margin of 19.33% and a return on equity of 29.38%. During the same period in the previous year, the business posted $0.60 earnings per share. On average, equities analysts predict that Microsoft Corp. will post $2.90 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be given a dividend of $0.39 per share. The ex-dividend date is Tuesday, November 15th. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.36. This represents a $1.56 dividend on an annualized basis and a yield of 2.72%. Microsoft Corp.’s payout ratio is presently 70.24%.
A number of research firms have recently weighed in on MSFT. Vetr lowered shares of Microsoft Corp. from a “buy” rating to a “hold” rating and set a $59.96 target price for the company. in a report on Wednesday. Macquarie reiterated a “neutral” rating and set a $54.00 target price on shares of Microsoft Corp. in a report on Friday. Pacific Crest reiterated a “buy” rating and set a $65.00 target price on shares of Microsoft Corp. in a report on Tuesday, September 13th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $62.00 target price on shares of Microsoft Corp. in a report on Friday, July 22nd. Finally, Argus reiterated a “hold” rating on shares of Microsoft Corp. in a report on Monday, July 25th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have given a buy rating to the company’s stock. Microsoft Corp. presently has an average rating of “Buy” and an average target price of $59.35.
In other Microsoft Corp. news, insider G Mason Morfit sold 18,000,000 shares of Microsoft Corp. stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $56.12, for a total transaction of $1,010,160,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Satya Nadella sold 143,000 shares of Microsoft Corp. stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,200,822 shares in the company, valued at $69,611,651.34. The disclosure for this sale can be found here. Corporate insiders own 3.76% of the company’s stock.
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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