Employees Retirement System of Texas trimmed its stake in Microsoft Co. (NASDAQ:MSFT) by 11.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,563,722 shares of the software giant’s stock after selling 196,100 shares during the quarter. Microsoft accounts for 2.1% of Employees Retirement System of Texas’ portfolio, making the stock its 2nd largest position. Employees Retirement System of Texas’ holdings in Microsoft were worth $154,199,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Progressive Investment Management Corp increased its holdings in Microsoft by 0.7% in the second quarter. Progressive Investment Management Corp now owns 71,588 shares of the software giant’s stock worth $7,022,000 after buying an additional 468 shares during the last quarter. BKS Advisors LLC grew its holdings in Microsoft by 4.6% during the second quarter. BKS Advisors LLC now owns 10,816 shares of the software giant’s stock valued at $1,067,000 after purchasing an additional 477 shares during the last quarter. Chatham Capital Group Inc. grew its holdings in Microsoft by 9.3% during the second quarter. Chatham Capital Group Inc. now owns 5,689 shares of the software giant’s stock valued at $561,000 after purchasing an additional 482 shares during the last quarter. Community Bank of Raymore grew its holdings in Microsoft by 21.4% during the second quarter. Community Bank of Raymore now owns 2,812 shares of the software giant’s stock valued at $277,000 after purchasing an additional 495 shares during the last quarter. Finally, Narwhal Capital Management grew its holdings in Microsoft by 0.4% during the second quarter. Narwhal Capital Management now owns 121,380 shares of the software giant’s stock valued at $11,969,000 after purchasing an additional 495 shares during the last quarter. 71.90% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on MSFT shares. Jefferies Financial Group reiterated a “sell” rating and set a $75.00 price target on shares of Microsoft in a report on Monday, November 19th. Barclays increased their price target on Microsoft from $117.00 to $120.00 and gave the company a “buy” rating in a report on Friday, September 7th. Oppenheimer set a $127.00 price target on Microsoft and gave the company a “buy” rating in a report on Monday, October 1st. Credit Suisse Group set a $125.00 price target on Microsoft and gave the company a “buy” rating in a report on Tuesday, October 2nd. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $130.00 price target on shares of Microsoft in a report on Thursday, September 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $121.88.
In other Microsoft news, insider Frank H. Brod sold 2,000 shares of Microsoft stock in a transaction on Monday, November 5th. The stock was sold at an average price of $107.18, for a total transaction of $214,360.00. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $6,931,973.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Satya Nadella sold 203,418 shares of Microsoft stock in a transaction on Friday, October 26th. The shares were sold at an average price of $106.68, for a total value of $21,700,632.24. Following the transaction, the chief executive officer now directly owns 1,014,247 shares of the company’s stock, valued at $108,199,869.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 299,255 shares of company stock valued at $32,229,279. 1.49% of the stock is owned by company insiders.
MSFT opened at $104.82 on Friday. Microsoft Co. has a 1-year low of $83.33 and a 1-year high of $116.18. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.92 and a quick ratio of 2.85. The company has a market capitalization of $835.58 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.25.
Microsoft (NASDAQ:MSFT) last issued its earnings results on Wednesday, October 24th. The software giant reported $1.14 EPS for the quarter, topping the consensus estimate of $0.96 by $0.18. The firm had revenue of $29.08 billion during the quarter, compared to analysts’ expectations of $27.92 billion. Microsoft had a return on equity of 39.86% and a net margin of 16.38%. Microsoft’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. As a group, sell-side analysts predict that Microsoft Co. will post 4.43 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 21st will be given a $0.46 dividend. The ex-dividend date is Wednesday, February 20th. This represents a $1.84 annualized dividend and a yield of 1.76%. Microsoft’s dividend payout ratio (DPR) is currently 47.42%.
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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 for businesses, 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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