Spirit of America Management Corp NY decreased its position in shares of Microsoft Co. (NASDAQ:MSFT) by 1.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 32,809 shares of the software giant’s stock after selling 600 shares during the quarter. Spirit of America Management Corp NY’s holdings in Microsoft were worth $4,561,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. KMG Fiduciary Partners LLC lifted its position in Microsoft by 2.6% in the third quarter. KMG Fiduciary Partners LLC now owns 84,551 shares of the software giant’s stock valued at $11,755,000 after buying an additional 2,115 shares during the last quarter. Cim LLC lifted its position in Microsoft by 90.1% in the third quarter. Cim LLC now owns 9,475 shares of the software giant’s stock valued at $1,317,000 after buying an additional 4,490 shares during the last quarter. Bender Robert & Associates lifted its position in Microsoft by 3.9% in the third quarter. Bender Robert & Associates now owns 2,117 shares of the software giant’s stock valued at $294,000 after buying an additional 80 shares during the last quarter. Nwam LLC lifted its position in Microsoft by 2.9% in the third quarter. Nwam LLC now owns 288,625 shares of the software giant’s stock valued at $40,128,000 after buying an additional 8,039 shares during the last quarter. Finally, PFG Advisors lifted its position in Microsoft by 1.8% in the third quarter. PFG Advisors now owns 37,088 shares of the software giant’s stock valued at $5,127,000 after buying an additional 644 shares during the last quarter. 72.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:MSFT opened at $140.41 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 2.50. The firm has a market capitalization of $1,065.52 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. The firm’s 50-day moving average is $138.01 and its two-hundred day moving average is $132.61. Microsoft Co. has a 1 year low of $93.96 and a 1 year high of $142.37.
Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, July 18th. The software giant reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.16. The company had revenue of $33.72 billion for the quarter, compared to analyst estimates of $32.80 billion. Microsoft had a net margin of 31.18% and a return on equity of 39.26%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. Analysts expect that Microsoft Co. will post 5.24 EPS for the current fiscal year.
Microsoft announced that its board has authorized a share buyback program on Wednesday, September 18th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the software giant to purchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Microsoft’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.45%. Microsoft’s dividend payout ratio is 38.74%.
In related news, CMO Christopher C. Capossela sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $135.58, for a total transaction of $1,220,220.00. Following the sale, the chief marketing officer now directly owns 119,579 shares in the company, valued at $16,212,520.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy Hood sold 123,769 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $137.26, for a total transaction of $16,988,532.94. Following the sale, the chief financial officer now owns 433,940 shares in the company, valued at $59,562,604.40. The disclosure for this sale can be found here. Insiders have sold 318,757 shares of company stock worth $43,735,918 over the last quarter. Insiders own 1.38% of the company’s stock.
A number of research analysts have commented on the stock. UBS Group set a $162.00 target price on shares of Microsoft and gave the company a “buy” rating in a research report on Friday, July 19th. DZ Bank reaffirmed a “buy” rating on shares of Microsoft in a research report on Friday, July 19th. Argus upped their target price on shares of Microsoft to $158.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Citigroup upped their target price on shares of Microsoft from $147.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, CIBC upped their target price on shares of Microsoft from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $151.69.
Microsoft Company Profile
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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