Sawgrass Asset Management LLC trimmed its stake in Microsoft Co. (NASDAQ:MSFT) by 22.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 863,094 shares of the software giant’s stock after selling 245,991 shares during the period. Microsoft makes up approximately 4.2% of Sawgrass Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Sawgrass Asset Management LLC’s holdings in Microsoft were worth $98,712,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Paradigm Asset Management Co. LLC boosted its stake in Microsoft by 44.2% in the third quarter. Paradigm Asset Management Co. LLC now owns 46,010 shares of the software giant’s stock worth $5,262,000 after buying an additional 14,100 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Microsoft in the third quarter worth approximately $23,476,000. Amussen Hunsaker Associates LLC boosted its stake in Microsoft by 63.0% in the third quarter. Amussen Hunsaker Associates LLC now owns 10,182 shares of the software giant’s stock worth $1,165,000 after buying an additional 3,934 shares in the last quarter. M Holdings Securities Inc. boosted its stake in shares of Microsoft by 3.1% during the third quarter. M Holdings Securities Inc. now owns 38,872 shares of the software giant’s stock valued at $4,446,000 after purchasing an additional 1,175 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Microsoft by 39.4% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,146,300 shares of the software giant’s stock valued at $131,102,000 after purchasing an additional 324,100 shares during the period. Institutional investors own 72.12% of the company’s stock.
Shares of MSFT stock opened at $115.91 on Friday. Microsoft Co. has a 52 week low of $87.08 and a 52 week high of $117.25. The firm has a market capitalization of $892.48 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 2.09 and a beta of 1.21. The company has a quick ratio of 3.08, a current ratio of 3.12 and a debt-to-equity ratio of 0.82.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Wednesday, January 30th. The software giant reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Microsoft had a return on equity of 39.52% and a net margin of 28.31%. The company had revenue of $32.47 billion during the quarter, compared to analyst estimates of $32.53 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that Microsoft Co. will post 4.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Wednesday, May 15th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.84 dividend on an annualized basis and a yield of 1.59%. Microsoft’s dividend payout ratio (DPR) is 47.42%.
A number of analysts have recently weighed in on the company. Credit Suisse Group set a $125.00 price objective on Microsoft and gave the company a “buy” rating in a research note on Monday, November 19th. Zacks Investment Research raised Microsoft from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research note on Thursday, January 24th. Macquarie set a $125.00 price objective on Microsoft and gave the company a “buy” rating in a research note on Monday, November 19th. Morgan Stanley reissued a “buy” rating and set a $130.00 price objective on shares of Microsoft in a research note on Monday, December 10th. Finally, Oppenheimer set a $127.00 price objective on Microsoft and gave the company a “buy” rating in a research note on Monday, November 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Microsoft currently has a consensus rating of “Buy” and a consensus price target of $122.51.
In other Microsoft news, EVP Christopher C. Capossela sold 10,500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $111.48, for a total value of $1,170,540.00. Following the completion of the transaction, the executive vice president now owns 156,866 shares in the company, valued at $17,487,421.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jean Philippe Courtois sold 28,147 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $108.14, for a total value of $3,043,816.58. Following the completion of the transaction, the insider now owns 497,162 shares of the company’s stock, valued at approximately $53,763,098.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 333,667 shares of company stock valued at $35,657,016. 1.38% of the stock is owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: This piece was posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2019/03/17/sawgrass-asset-management-llc-has-98-71-million-position-in-microsoft-co-msft.html.
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.
Read More: Discount Rate
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.