Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Microsoft Corp. (NASDAQ:MSFT) by 11.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,686,291 shares of the software giant’s stock after buying an additional 266,008 shares during the period. Microsoft Corp. accounts for approximately 1.8% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 4th largest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Microsoft Corp. were worth $137,457,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Abner Herrman & Brock LLC raised its position in shares of Microsoft Corp. by 153.1% in the first quarter. Abner Herrman & Brock LLC now owns 210,342 shares of the software giant’s stock valued at $11,617,000 after buying an additional 127,221 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of Microsoft Corp. by 20.1% in the first quarter. Eqis Capital Management Inc. now owns 40,896 shares of the software giant’s stock valued at $2,259,000 after buying an additional 6,831 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt bought a new position in shares of Microsoft Corp. during the first quarter valued at approximately $229,204,000. River & Mercantile Asset Management LLP bought a new position in shares of Microsoft Corp. during the first quarter valued at approximately $1,566,000. Finally, Burns J W & Co. Inc. NY raised its position in shares of Microsoft Corp. by 1.0% in the first quarter. Burns J W & Co. Inc. NY now owns 189,492 shares of the software giant’s stock valued at $10,466,000 after buying an additional 1,786 shares during the last quarter. Institutional investors and hedge funds own 71.58% of the company’s stock.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded down 0.67% during trading on Friday, reaching $57.43. The company had a trading volume of 19,955,336 shares. Microsoft Corp. has a 52-week low of $43.05 and a 52-week high of $58.70. The firm has a 50-day moving average price of $57.58 and a 200-day moving average price of $54.03. The company has a market capitalization of $447.52 billion, a P/E ratio of 27.35 and a beta of 1.08.
Microsoft Corp. (NASDAQ:MSFT) last released its quarterly earnings data on Tuesday, July 19th. The software giant reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.11. The business had revenue of $22.60 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $0.60 EPS. On average, analysts predict that Microsoft Corp. will post $2.90 EPS for the current fiscal year.
The company 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. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.36. This represents a $1.56 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Tuesday, November 15th. Microsoft Corp.’s payout ratio is currently 70.24%.
Several equities analysts recently commented on the stock. Vetr raised shares of Microsoft Corp. from a “buy” rating to a “strong-buy” rating and set a $57.13 price objective for the company in a research report on Tuesday, June 14th. Citigroup Inc. reissued a “sell” rating and set a $36.00 price target on shares of Microsoft Corp. in a research report on Tuesday, June 14th. Royal Bank Of Canada raised their price target on shares of Microsoft Corp. from $57.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 1st. Barclays PLC raised their price target on shares of Microsoft Corp. from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 1st. Finally, Wunderlich raised their price target on shares of Microsoft Corp. from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nineteen have given a buy rating to the company. Microsoft Corp. has a consensus rating of “Hold” and an average price target of $59.35.
In related news, insider G Mason Morfit sold 18,000,000 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was 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 this hyperlink. Also, CFO Amy Hood sold 120,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 523,425 shares in the company, valued at $30,285,370.50. The disclosure for this sale can be found here. 3.76% of the stock is owned by insiders.
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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