Wheatland Advisors Inc. cut its position in shares of Microsoft Corp. (NASDAQ:MSFT) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 70,564 shares of the software giant’s stock after selling 1,597 shares during the period. Microsoft Corp. makes up 3.5% of Wheatland Advisors Inc.’s portfolio, making the stock its 2nd largest position. Wheatland Advisors Inc.’s holdings in Microsoft Corp. were worth $3,611,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Invictus RG purchased a new position in shares of Microsoft Corp. during the first quarter worth $107,000. Riggs Asset Managment Co. Inc. increased its position 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 increased its position 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 position in shares of Microsoft Corp. during the first quarter worth $205,000. Finally, CLS Investments LLC increased its position 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. Institutional investors own 71.58% of the company’s stock.
Microsoft Corp. (NASDAQ:MSFT) traded down 0.92% during midday trading on Monday, reaching $56.90. The company had a trading volume of 21,179,739 shares. The company has a 50-day moving average of $57.58 and a 200-day moving average of $54.03. The stock has a market capitalization of $443.39 billion, a PE ratio of 27.10 and a beta of 1.08. Microsoft Corp. has a 12-month low of $43.05 and a 12-month high of $58.70.
Microsoft Corp. (NASDAQ:MSFT) last announced its quarterly earnings results on Tuesday, July 19th. The software giant reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.11. The business had revenue of $22.60 billion for the quarter, compared to analysts’ expectations 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 firm earned $0.60 EPS. On average, analysts predict that Microsoft Corp. will post $2.90 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be paid a $0.39 dividend. This is a boost from Microsoft Corp.’s previous quarterly dividend of $0.36. This represents a $1.56 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Tuesday, November 15th. Microsoft Corp.’s payout ratio is 70.24%.
A number of equities analysts recently weighed in on the stock. Vetr downgraded shares of Microsoft Corp. from a “buy” rating to a “hold” rating and set a $59.96 target price on the stock. in a report on Wednesday, September 21st. Macquarie restated a “neutral” rating and set a $54.00 target price on shares of Microsoft Corp. in a report on Friday. Pacific Crest reaffirmed a “buy” rating and set a $65.00 price objective on shares of Microsoft Corp. in a research report on Tuesday, September 13th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Microsoft Corp. in a research report on Friday, July 22nd. Finally, Argus reaffirmed a “hold” rating on shares of Microsoft Corp. in a research report on Monday, July 25th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Microsoft Corp. currently has a consensus rating of “Hold” and an average price target of $59.35.
In other Microsoft Corp. news, Director William H. Gates III sold 2,500,000 shares of Microsoft Corp. stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $55.94, for a total value of $139,850,000.00. The sale was disclosed in a legal 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 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 completion of 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. 3.76% of the stock is owned by company 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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