McKinley Carter Wealth Services Inc. reduced its position in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,104 shares of the software giant’s stock after selling 586 shares during the quarter. Microsoft comprises approximately 1.0% of McKinley Carter Wealth Services Inc.’s investment portfolio, making the stock its 21st largest position. McKinley Carter Wealth Services Inc.’s holdings in Microsoft were worth $12,981,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Microsoft during the 4th quarter worth $24,401,940,000. Allspring Global Investments Holdings LLC acquired a new position in Microsoft during the 4th quarter worth about $2,952,329,000. State Street Corp lifted its stake in Microsoft by 2.8% during the 4th quarter. State Street Corp now owns 302,541,869 shares of the software giant’s stock worth $101,750,881,000 after acquiring an additional 8,108,943 shares in the last quarter. Castleview Partners LLC acquired a new position in Microsoft during the 4th quarter worth about $11,872,000. Finally, TD Asset Management Inc. lifted its stake in Microsoft by 28.5% during the 4th quarter. TD Asset Management Inc. now owns 14,476,729 shares of the software giant’s stock worth $4,868,814,000 after acquiring an additional 3,207,415 shares in the last quarter. 69.99% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently issued reports on MSFT. Itau BBA Securities began coverage on Microsoft in a research note on Tuesday. They set an “outperform” rating and a $287.00 target price on the stock. Morgan Stanley decreased their target price on Microsoft from $372.00 to $354.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Mizuho decreased their target price on Microsoft from $350.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. Cowen reduced their price target on Microsoft from $330.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, July 22nd. Finally, KeyCorp reduced their price target on Microsoft from $373.00 to $330.00 and set an “overweight” rating on the stock in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.80.
Microsoft Trading Up 1.6 %
Microsoft (NASDAQ:MSFT – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The software giant reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.06). Microsoft had a return on equity of 44.85% and a net margin of 37.63%. During the same period in the previous year, the company posted $2.17 EPS. On average, research analysts anticipate that Microsoft Co. will post 9.27 EPS for the current year.
Microsoft Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, August 17th. This represents a $2.48 dividend on an annualized basis and a yield of 0.88%. Microsoft’s dividend payout ratio is presently 25.89%.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.
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