Microsoft Co. (NASDAQ:MSFT) is Iowa State Bank’s 5th Largest Position

Iowa State Bank cut its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 4.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 48,884 shares of the software giant’s stock after selling 2,455 shares during the quarter. Microsoft makes up about 3.5% of Iowa State Bank’s portfolio, making the stock its 5th largest position. Iowa State Bank’s holdings in Microsoft were worth $15,071,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in Microsoft by 5.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 134,115 shares of the software giant’s stock worth $42,237,000 after buying an additional 7,210 shares in the last quarter. Arbor Investment Advisors LLC grew its position in Microsoft by 12.6% during the first quarter. Arbor Investment Advisors LLC now owns 12,142 shares of the software giant’s stock worth $3,743,000 after buying an additional 1,357 shares in the last quarter. Dfpg Investments LLC grew its position in Microsoft by 22.9% during the first quarter. Dfpg Investments LLC now owns 27,038 shares of the software giant’s stock worth $7,585,000 after buying an additional 5,030 shares in the last quarter. Allworth Financial LP grew its position in Microsoft by 41.4% during the first quarter. Allworth Financial LP now owns 147,385 shares of the software giant’s stock worth $45,441,000 after buying an additional 43,189 shares in the last quarter. Finally, Elk River Wealth Management LLC grew its position in Microsoft by 4.8% during the first quarter. Elk River Wealth Management LLC now owns 55,203 shares of the software giant’s stock worth $17,020,000 after buying an additional 2,544 shares in the last quarter. 69.99% of the stock is currently owned by hedge funds and other institutional investors.

Microsoft Stock Performance

Shares of MSFT stock opened at $280.74 on Monday. Microsoft Co. has a 12 month low of $241.51 and a 12 month high of $349.67. The stock has a market cap of $2.10 trillion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93. The company has a current ratio of 1.99, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average price is $261.36 and its 200-day moving average price is $281.11.

Microsoft (NASDAQ:MSFT – Get Rating) last announced its earnings results on Tuesday, July 26th. The software giant reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.06). Microsoft had a net margin of 37.63% and a return on equity of 44.85%. During the same quarter in the prior year, the firm posted $2.17 EPS. On average, equities analysts expect that Microsoft Co. will post 9.27 EPS for the current fiscal year.

Microsoft Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, August 17th. Microsoft’s dividend payout ratio is presently 25.89%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Microsoft from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Stifel Nicolaus dropped their price target on Microsoft from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Piper Sandler dropped their price target on Microsoft from $352.00 to $312.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Itaú Unibanco assumed coverage on Microsoft in a research note on Tuesday, July 26th. They set an “outperform” rating and a $287.00 price target for the company. Finally, Credit Suisse Group set a $400.00 price target on Microsoft in a research note on Tuesday, July 26th. One analyst has rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Microsoft currently has an average rating of “Moderate Buy” and an average target price of $334.80.

Microsoft Company Profile

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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.