Microsoft Co. (NASDAQ:MSFT) Position Trimmed by Nachman Norwood & Parrott Inc

Nachman Norwood & Parrott Inc cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 52,007 shares of the software giant’s stock after selling 531 shares during the quarter. Microsoft accounts for about 1.3% of Nachman Norwood & Parrott Inc’s holdings, making the stock its 10th largest position. Nachman Norwood & Parrott Inc’s holdings in Microsoft were worth $7,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New England Private Wealth Advisors LLC increased its holdings in shares of Microsoft by 0.7% in the second quarter. New England Private Wealth Advisors LLC now owns 10,520 shares of the software giant’s stock worth $1,408,000 after purchasing an additional 72 shares during the last quarter. Orgel Wealth Management LLC increased its holdings in shares of Microsoft by 1.2% in the second quarter. Orgel Wealth Management LLC now owns 6,492 shares of the software giant’s stock worth $870,000 after purchasing an additional 74 shares during the last quarter. Planning Directions Inc. increased its holdings in shares of Microsoft by 3.2% in the second quarter. Planning Directions Inc. now owns 2,418 shares of the software giant’s stock worth $324,000 after purchasing an additional 74 shares during the last quarter. Weybosset Research & Management LLC increased its holdings in shares of Microsoft by 2.1% in the second quarter. Weybosset Research & Management LLC now owns 3,625 shares of the software giant’s stock worth $486,000 after purchasing an additional 75 shares during the last quarter. Finally, Torch Wealth Management LLC increased its holdings in shares of Microsoft by 0.4% in the second quarter. Torch Wealth Management LLC now owns 18,397 shares of the software giant’s stock worth $2,464,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 72.16% of the company’s stock.

MSFT has been the topic of several research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $153.00 target price on shares of Microsoft in a report on Wednesday, July 24th. Wedbush reissued an “outperform” rating on shares of Microsoft in a research note on Thursday, August 29th. JPMorgan Chase & Co. reissued a “buy” rating and set a $155.00 price objective on shares of Microsoft in a research note on Friday, July 19th. Morgan Stanley set a $155.00 price objective on Microsoft and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, BMO Capital Markets boosted their price objective on Microsoft from $147.00 to $153.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. Microsoft presently has an average rating of “Buy” and an average target price of $151.52.

In other news, EVP Kathleen T. Hogan sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $135.25, for a total transaction of $5,410,000.00. Following the transaction, the executive vice president now owns 198,042 shares of the company’s stock, valued at $26,785,180.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frank H. Brod sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $141.05, for a total value of $564,200.00. Following the transaction, the insider now directly owns 64,152 shares in the company, valued at approximately $9,048,639.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 318,757 shares of company stock worth $43,735,918. Insiders own 1.38% of the company’s stock.

MSFT opened at $139.68 on Friday. The stock has a market cap of $1,066.51 billion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 2.22 and a beta of 1.22. The stock’s 50 day moving average price is $137.45 and its 200-day moving average price is $132.03. Microsoft Co. has a one year low of $93.96 and a one year high of $142.37. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.50 and a current ratio of 2.53.

Microsoft (NASDAQ:MSFT) last released its earnings results on Thursday, July 18th. The software giant reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The firm had revenue of $33.72 billion for the quarter, compared to analysts’ expectations of $32.80 billion. Microsoft had a return on equity of 39.26% and a net margin of 31.18%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share. As a group, analysts predict that Microsoft Co. will post 5.24 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.51 per share. This is a boost from Microsoft’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.46%. Microsoft’s dividend payout ratio is currently 38.74%.

Microsoft declared that its board has approved a share repurchase plan on Wednesday, September 18th that allows the company to buyback $40.00 billion in outstanding shares. This buyback authorization allows the software giant to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

About Microsoft

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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