Microsoft Co. (NASDAQ:MSFT) Shares Sold by Stonebridge Capital Management Inc.
Stonebridge Capital Management Inc. reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 2.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 91,351 shares of the software giant’s stock after selling 2,288 shares during the quarter. Microsoft accounts for approximately 5.9% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its biggest holding. Stonebridge Capital Management Inc.’s holdings in Microsoft were worth $12,701,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA lifted its position in Microsoft by 274.5% during the second quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock valued at $26,000 after purchasing an additional 140 shares during the period. Krane Funds Advisors LLC acquired a new position in Microsoft during the second quarter valued at $26,000. AlphaOne Investment Services LLC acquired a new position in Microsoft during the second quarter valued at $51,000. University of Texas Texas AM Investment Managment Co. lifted its position in Microsoft by 48.9% during the second quarter. University of Texas Texas AM Investment Managment Co. now owns 521 shares of the software giant’s stock valued at $70,000 after purchasing an additional 171 shares during the period. Finally, Gavea Investimentos Ltda acquired a new position in Microsoft during the second quarter valued at $70,000. Institutional investors and hedge funds own 72.16% of the company’s stock.
A number of research analysts recently issued reports on MSFT shares. CIBC boosted their target price on shares of Microsoft from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Citigroup upped their price objective on shares of Microsoft from $147.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Wedbush reiterated an “outperform” rating on shares of Microsoft in a research report on Thursday, August 29th. Credit Suisse Group set a $155.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group upgraded shares of Microsoft from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Monday. Three investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. Microsoft has a consensus rating of “Buy” and an average price target of $151.52.
Microsoft (NASDAQ:MSFT) last released its earnings results on Thursday, July 18th. The software giant reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. The business had revenue of $33.72 billion during the quarter, compared to analysts’ expectations of $32.80 billion. Microsoft had a net margin of 31.18% and a return on equity of 39.26%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 earnings per share. As a group, equities analysts anticipate that Microsoft Co. will post 5.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.48%. This is a boost from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s payout ratio is currently 38.74%.
Microsoft announced that its board has approved a share repurchase program on Wednesday, September 18th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the software giant to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, CMO Christopher C. Capossela sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $135.58, for a total transaction of $1,220,220.00. Following the completion of the sale, the chief marketing officer now owns 119,579 shares of the company’s stock, valued at $16,212,520.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathleen T. Hogan sold 40,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $135.25, for a total transaction of $5,410,000.00. Following the sale, the executive vice president now directly owns 198,042 shares of the company’s stock, valued at approximately $26,785,180.50. The disclosure for this sale can be found here. Insiders have sold 318,757 shares of company stock valued at $43,735,918 in the last three months. Corporate insiders own 1.38% of the company’s stock.
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, 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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