Harbor Capital Advisors Inc. decreased its position in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 17.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 33,104 shares of the software giant’s stock after selling 6,848 shares during the quarter. Microsoft comprises 4.8% of Harbor Capital Advisors Inc.’s holdings, making the stock its 2nd biggest position. Harbor Capital Advisors Inc.’s holdings in Microsoft were worth $10,206,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. ACT Wealth Management LLC grew its stake in Microsoft by 0.8% in the 4th quarter. ACT Wealth Management LLC now owns 4,097 shares of the software giant’s stock valued at $1,378,000 after purchasing an additional 34 shares during the period. Wealth Enhancement & Preservation of GA LLC grew its stake in Microsoft by 0.7% in the 4th quarter. Wealth Enhancement & Preservation of GA LLC now owns 4,995 shares of the software giant’s stock valued at $1,680,000 after purchasing an additional 34 shares during the period. KB Financial Partners LLC grew its stake in Microsoft by 0.5% in the 4th quarter. KB Financial Partners LLC now owns 7,148 shares of the software giant’s stock valued at $2,404,000 after purchasing an additional 35 shares during the period. Valtinson Bruner Financial Planning LLC grew its stake in Microsoft by 0.9% in the 1st quarter. Valtinson Bruner Financial Planning LLC now owns 4,238 shares of the software giant’s stock valued at $1,186,000 after purchasing an additional 37 shares during the period. Finally, Strategic Asset Management LLC grew its stake in Microsoft by 5.9% in the 1st quarter. Strategic Asset Management LLC now owns 659 shares of the software giant’s stock valued at $203,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 69.99% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on MSFT. Deutsche Bank Aktiengesellschaft reduced their price objective on Microsoft from $350.00 to $330.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Evercore ISI reduced their price objective on Microsoft from $370.00 to $330.00 and set an “inline” rating for the company in a research note on Wednesday, April 27th. Royal Bank of Canada set a $380.00 price target on Microsoft in a research report on Thursday, May 19th. Piper Sandler dropped their price target on Microsoft from $352.00 to $312.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. Finally, Itau BBA Securities initiated coverage on Microsoft in a research report on Tuesday, July 26th. They set an “outperform” rating and a $287.00 price target on the stock. One investment analyst has rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $333.88.
Microsoft Price Performance
Microsoft (NASDAQ:MSFT – Get Rating) last issued its quarterly 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 return on equity of 43.31% and a net margin of 36.69%. During the same quarter in the prior year, the business posted $2.17 earnings per share. On average, equities research analysts anticipate that Microsoft Co. will post 10.14 earnings per share for the current fiscal year.
Microsoft Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be paid a $0.62 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.88%. Microsoft’s dividend payout ratio (DPR) is 25.73%.
Microsoft Company Profile
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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