Canal Capital Management LLC grew its holdings in Microsoft Co. (NASDAQ:MSFT) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,681 shares of the software giant’s stock after acquiring an additional 705 shares during the quarter. Microsoft accounts for approximately 1.7% of Canal Capital Management LLC’s holdings, making the stock its 17th largest holding. Canal Capital Management LLC’s holdings in Microsoft were worth $2,875,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. LFA Lugano Financial Advisors SA raised its stake in shares of Microsoft by 274.5% in the second quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock worth $26,000 after purchasing an additional 140 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Microsoft in the second quarter worth about $26,000. Centaurus Financial Inc. raised its stake in shares of Microsoft by 21.1% in the first quarter. Centaurus Financial Inc. now owns 3,222 shares of the software giant’s stock worth $27,000 after purchasing an additional 561 shares during the last quarter. Selective Wealth Management Inc. purchased a new position in shares of Microsoft in the third quarter worth about $36,000. Finally, Atwater Malick LLC purchased a new position in shares of Microsoft in the third quarter worth about $37,000. 72.20% of the stock is owned by institutional investors and hedge funds.
Microsoft stock opened at $145.96 on Friday. Microsoft Co. has a 12 month low of $93.96 and a 12 month high of $145.99. The business has a 50 day simple moving average of $139.85 and a 200-day simple moving average of $135.04. The stock has a market capitalization of $1,102.06 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.85 and a quick ratio of 2.81.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Wednesday, October 23rd. The software giant reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.14. Microsoft had a return on equity of 39.14% and a net margin of 31.66%. The business had revenue of $33.06 billion for the quarter, compared to analyst estimates of $32.24 billion. During the same quarter in the prior year, the company posted $1.14 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis. On average, equities research analysts anticipate that Microsoft Co. will post 5.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s payout ratio is currently 38.74%.
Microsoft announced that its board has initiated a stock buyback plan on Wednesday, September 18th that permits the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization permits the software giant to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Several brokerages have recently issued reports on MSFT. UBS Group set a $162.00 price objective on Microsoft and gave the stock a “buy” rating in a research note on Friday, July 19th. Stifel Nicolaus raised their price objective on Microsoft from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Canaccord Genuity raised their price objective on Microsoft from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Cleveland Research restated a “buy” rating on shares of Microsoft in a research note on Friday, October 18th. Finally, Argus lifted their price target on Microsoft to $158.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $159.45.
In related news, CMO Christopher C. Capossela sold 7,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $138.15, for a total value of $967,050.00. Following the sale, the chief marketing officer now owns 122,817 shares in the company, valued at approximately $16,967,168.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy Hood sold 123,769 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $137.26, for a total value of $16,988,532.94. Following the completion of the sale, the chief financial officer now owns 433,940 shares in the company, valued at approximately $59,562,604.40. The disclosure for this sale can be found here. Insiders sold a total of 339,804 shares of company stock worth $46,790,619 in the last quarter. Company insiders own 1.39% of the company’s stock.
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.
Further Reading: How to trade on quiet period expirations
Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Co. (NASDAQ:MSFT).
Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.