Resources Management Corp CT ADV bought a new position in shares of Microsoft Co. (NASDAQ:MSFT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 146,351 shares of the software giant’s stock, valued at approximately $20,347,000. Microsoft accounts for approximately 3.8% of Resources Management Corp CT ADV’s investment portfolio, making the stock its biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. LFA Lugano Financial Advisors SA grew its position in Microsoft by 274.5% during the second quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock valued at $26,000 after buying an additional 140 shares during the period. Krane Funds Advisors LLC acquired a new position in shares of Microsoft during the 2nd quarter worth about $26,000. Selective Wealth Management Inc. acquired a new position in shares of Microsoft during the 3rd quarter worth about $36,000. Atwater Malick LLC purchased a new position in Microsoft in the 3rd quarter valued at about $37,000. Finally, AlphaOne Investment Services LLC purchased a new position in Microsoft in the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 71.83% of the company’s stock.
A number of brokerages have recently issued reports on MSFT. Jefferies Financial Group raised Microsoft from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Monday, October 7th. Evercore ISI set a $160.00 price target on shares of Microsoft and gave the stock a “buy” rating in a research note on Friday, October 18th. KeyCorp restated a “buy” rating and set a $155.00 price target on shares of Microsoft in a research report on Thursday, August 29th. Citigroup boosted their price target on shares of Microsoft from $152.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 price objective on shares of Microsoft in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. Microsoft has an average rating of “Buy” and an average price target of $159.45.
In other news, EVP Kathleen T. Hogan sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 198,042 shares of the company’s stock, valued at approximately $26,785,180.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Christopher C. Capossela sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $144.01, for a total value of $360,025.00. Following the sale, the chief marketing officer now directly owns 118,944 shares in the company, valued at approximately $17,129,125.44. The disclosure for this sale can be found here. Insiders sold a total of 105,198 shares of company stock worth $14,588,720 in the last ninety days. 1.39% of the stock is owned by corporate insiders.
Shares of Microsoft stock traded up $0.54 during trading hours on Wednesday, hitting $149.85. The company’s stock had a trading volume of 17,409,779 shares, compared to its average volume of 17,994,986. Microsoft Co. has a twelve month low of $93.96 and a twelve month high of $152.50. The firm has a fifty day moving average of $145.35 and a 200-day moving average of $137.76. The stock has a market cap of $1,143.18 billion, a price-to-earnings ratio of 31.55, a P/E/G ratio of 2.37 and a beta of 1.23. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.81 and a current ratio of 2.85.
Microsoft (NASDAQ:MSFT) last issued its quarterly earnings data on Wednesday, October 23rd. The software giant reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.14. Microsoft had a return on equity of 39.14% and a net margin of 31.66%. The firm had revenue of $33.06 billion during the quarter, compared to the consensus estimate of $32.24 billion. During the same period last year, the company earned $1.14 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts expect that Microsoft Co. will post 5.35 earnings per share for the current fiscal year.
The business also recently announced 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. 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 1.36%. Microsoft’s dividend payout ratio (DPR) is 42.95%.
Microsoft declared that its board has initiated a stock repurchase plan on Wednesday, September 18th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the software giant to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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