Investment Management of Virginia LLC Reduces Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Investment Management of Virginia LLC reduced its position in Microsoft Co. (NASDAQ:MSFT) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 40,575 shares of the software giant’s stock after selling 1,300 shares during the quarter. Microsoft makes up about 2.1% of Investment Management of Virginia LLC’s holdings, making the stock its 8th largest holding. Investment Management of Virginia LLC’s holdings in Microsoft were worth $10,991,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MSFT. Danda Trouve Investment Management Inc. increased its position in shares of Microsoft by 63.8% in the second quarter. Danda Trouve Investment Management Inc. now owns 131 shares of the software giant’s stock worth $35,000 after acquiring an additional 51 shares in the last quarter. Litman Gregory Asset Management LLC increased its position in shares of Microsoft by 2,000.0% in the second quarter. Litman Gregory Asset Management LLC now owns 924 shares of the software giant’s stock worth $92,000 after acquiring an additional 880 shares in the last quarter. Paradigm Strategies in Wealth Management LLC increased its position in shares of Microsoft by 24.7% in the second quarter. Paradigm Strategies in Wealth Management LLC now owns 353 shares of the software giant’s stock worth $96,000 after acquiring an additional 70 shares in the last quarter. Strategic Point Investment Advisors LLC purchased a new position in Microsoft during the second quarter valued at approximately $109,000. Finally, Lake Point Wealth Management purchased a new position in Microsoft during the second quarter valued at approximately $162,000. 69.17% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Microsoft from $325.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Zacks Investment Research raised shares of Microsoft from a “hold” rating to a “buy” rating and set a $329.00 price objective on the stock in a research report on Thursday, July 29th. Jefferies Financial Group boosted their price objective on shares of Microsoft from $335.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, September 8th. Stifel Nicolaus boosted their price objective on shares of Microsoft from $305.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Finally, Barclays boosted their price objective on shares of Microsoft from $330.00 to $345.00 and gave the company an “overweight” rating in a research report on Friday, September 17th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Microsoft has an average rating of “Buy” and a consensus target price of $324.84.

Shares of Microsoft stock opened at $299.35 on Friday. The firm has a market capitalization of $2.25 trillion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 3.10 and a beta of 0.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.08 and a quick ratio of 2.05. The company’s fifty day moving average price is $294.27 and its two-hundred day moving average price is $267.72. Microsoft Co. has a 52-week low of $199.62 and a 52-week high of $305.84.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Monday, July 26th. The software giant reported $2.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.25. The firm had revenue of $46.15 billion for the quarter, compared to analyst estimates of $44.30 billion. Microsoft had a net margin of 36.45% and a return on equity of 45.76%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. Analysts predict that Microsoft Co. will post 8.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 9th. Shareholders of record on Thursday, November 18th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, November 17th. This is a positive change from Microsoft’s previous quarterly dividend of $0.56. Microsoft’s payout ratio is 28.11%.

Microsoft announced that its Board of Directors has authorized a share repurchase plan on Tuesday, September 14th that permits the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization permits the software giant to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Microsoft news, CFO Amy Hood sold 60,000 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $303.08, for a total transaction of $18,184,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Satya Nadella sold 75,573 shares of the stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $303.28, for a total transaction of $22,919,779.44. Following the sale, the chief executive officer now directly owns 1,632,350 shares in the company, valued at approximately $495,059,108. The disclosure for this sale can be found here. Insiders sold a total of 165,573 shares of company stock worth $50,066,379 in the last three months. Insiders own 0.05% of the company’s stock.

About Microsoft

Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment comprises products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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