Affinity Wealth Management LLC Boosts Stock Position in Microsoft Co. (NASDAQ:MSFT)

Affinity Wealth Management LLC boosted its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,315 shares of the software giant’s stock after acquiring an additional 938 shares during the period. Microsoft makes up approximately 7.6% of Affinity Wealth Management LLC’s investment portfolio, making the stock its 2nd largest holding. Affinity Wealth Management LLC’s holdings in Microsoft were worth $6,010,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MSFT. Citizens National Bank Trust Department raised its stake in shares of Microsoft by 2.7% in the 2nd quarter. Citizens National Bank Trust Department now owns 32,332 shares of the software giant’s stock valued at $6,580,000 after purchasing an additional 853 shares during the period. Canandaigua National Corp acquired a new stake in shares of Microsoft in the second quarter valued at about $28,720,000. Nelson Roberts Investment Advisors LLC increased its position in shares of Microsoft by 0.4% in the first quarter. Nelson Roberts Investment Advisors LLC now owns 108,476 shares of the software giant’s stock valued at $17,108,000 after acquiring an additional 438 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Microsoft in the second quarter valued at about $1,374,000. Finally, Roundview Capital LLC increased its position in shares of Microsoft by 6.5% in the first quarter. Roundview Capital LLC now owns 111,865 shares of the software giant’s stock valued at $17,642,000 after acquiring an additional 6,860 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

A number of brokerages have weighed in on MSFT. UBS Group boosted their price target on Microsoft from $207.00 to $232.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Credit Suisse Group set a $225.00 price target on Microsoft and gave the stock a “buy” rating in a research report on Monday, August 10th. Goldman Sachs Group set a $215.00 price target on Microsoft and gave the stock a “buy” rating in a research report on Monday, July 20th. Morgan Stanley boosted their price target on Microsoft from $230.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Finally, Bank of America restated a “buy” rating and set a $230.00 price objective on shares of Microsoft in a report on Monday, July 20th. Four investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $216.72.

NASDAQ MSFT opened at $208.78 on Wednesday. The company has a market capitalization of $1,579.97 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.33 and a beta of 0.89. Microsoft Co. has a twelve month low of $132.52 and a twelve month high of $232.86. The stock has a fifty day simple moving average of $212.36 and a 200 day simple moving average of $187.59. The company has a quick ratio of 2.49, a current ratio of 2.52 and a debt-to-equity ratio of 0.50.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Wednesday, July 22nd. The software giant reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.12. The business had revenue of $38.03 billion during the quarter, compared to the consensus estimate of $36.59 billion. Microsoft had a return on equity of 39.45% and a net margin of 30.96%. Research analysts expect that Microsoft Co. will post 6.39 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.24 dividend on an annualized basis and a yield of 1.07%. This is a boost from Microsoft’s previous quarterly dividend of $0.51. Microsoft’s dividend payout ratio is 35.42%.

In other news, CFO Amy Hood sold 80,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $218.14, for a total transaction of $17,451,200.00. Following the transaction, the chief financial officer now owns 452,720 shares of the company’s stock, valued at approximately $98,756,340.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jean Philippe Courtois sold 15,140 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $215.00, for a total transaction of $3,255,100.00. Following the transaction, the executive vice president now directly owns 560,498 shares in the company, valued at approximately $120,507,070. The disclosure for this sale can be found here. Insiders have sold 164,067 shares of company stock worth $35,247,737 in the last ninety days. Insiders own 1.39% of the company’s stock.

About Microsoft

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: Dividend Kings

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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