Sit Investment Associates Inc. decreased its position in Microsoft Co. (NASDAQ:MSFT) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 451,868 shares of the software giant’s stock after selling 23,122 shares during the quarter. Microsoft comprises about 2.9% of Sit Investment Associates Inc.’s holdings, making the stock its largest position. Sit Investment Associates Inc.’s holdings in Microsoft were worth $91,960,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Selective Wealth Management Inc. grew its stake in shares of Microsoft by 26.9% in the second quarter. Selective Wealth Management Inc. now owns 236 shares of the software giant’s stock worth $48,000 after purchasing an additional 50 shares in the last quarter. KG&L Capital Management LLC grew its stake in shares of Microsoft by 0.7% in the second quarter. KG&L Capital Management LLC now owns 7,764 shares of the software giant’s stock worth $1,579,000 after purchasing an additional 53 shares in the last quarter. Advisors Management Group Inc. ADV grew its stake in shares of Microsoft by 1.8% in the second quarter. Advisors Management Group Inc. ADV now owns 3,118 shares of the software giant’s stock worth $634,000 after purchasing an additional 54 shares in the last quarter. UMA Financial Services Inc. grew its stake in shares of Microsoft by 0.4% in the second quarter. UMA Financial Services Inc. now owns 13,618 shares of the software giant’s stock worth $2,836,000 after purchasing an additional 56 shares in the last quarter. Finally, Successful Portfolios LLC grew its stake in shares of Microsoft by 0.3% in the second quarter. Successful Portfolios LLC now owns 16,656 shares of the software giant’s stock worth $3,390,000 after purchasing an additional 58 shares in the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.
Shares of MSFT stock opened at $208.78 on Wednesday. The stock has a 50 day moving average of $212.36 and a two-hundred day moving average of $187.59. The company has a current ratio of 2.52, a quick ratio of 2.49 and a debt-to-equity ratio of 0.50. Microsoft Co. has a 12 month low of $132.52 and a 12 month high of $232.86. The company has a market capitalization of $1,579.97 billion, a P/E ratio of 36.31, a P/E/G ratio of 2.33 and a beta of 0.89.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, July 22nd. The software giant reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.12. Microsoft had a return on equity of 39.45% and a net margin of 30.96%. The company had revenue of $38.03 billion during the quarter, compared to the consensus estimate of $36.59 billion. Sell-side analysts predict that Microsoft Co. will post 6.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, November 18th. This is an increase from Microsoft’s previous quarterly dividend of $0.51. Microsoft’s dividend payout ratio (DPR) is 35.42%.
In related news, CFO Amy Hood sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $218.14, for a total transaction of $17,451,200.00. Following the completion of the transaction, the chief financial officer now owns 452,720 shares in the company, valued at approximately $98,756,340.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jean Philippe Courtois sold 15,140 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $215.00, for a total value of $3,255,100.00. Following the transaction, the executive vice president now owns 560,498 shares of the company’s stock, valued at approximately $120,507,070. The disclosure for this sale can be found here. Insiders have sold a total of 164,067 shares of company stock valued at $35,247,737 in the last 90 days. 1.39% of the stock is owned by corporate insiders.
MSFT has been the subject of several research reports. Sanford C. Bernstein reaffirmed a “buy” rating and set a $233.00 target price on shares of Microsoft in a research note on Thursday, July 23rd. BMO Capital Markets upped their target price on Microsoft from $212.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. They noted that the move was a valuation call. Citigroup increased their price objective on Microsoft from $179.00 to $216.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Oppenheimer began coverage on Microsoft in a research note on Monday, August 3rd. They issued a “hold” rating for the company. Finally, Goldman Sachs Group set a $215.00 price objective on Microsoft and gave the stock a “buy” rating in a research note on Monday, July 20th. Four analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Microsoft has an average rating of “Buy” and a consensus price target of $216.72.
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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