Kings Point Capital Management cut its holdings in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,180 shares of the software giant’s stock after selling 3,420 shares during the period. Microsoft comprises about 3.8% of Kings Point Capital Management’s holdings, making the stock its 2nd largest position. Kings Point Capital Management’s holdings in Microsoft were worth $44,144,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp raised its stake in Microsoft by 2.8% in the fourth quarter. State Street Corp now owns 302,541,869 shares of the software giant’s stock valued at $101,750,881,000 after buying an additional 8,108,943 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Microsoft by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 129,107,118 shares of the software giant’s stock worth $43,313,705,000 after purchasing an additional 3,027,306 shares during the last quarter. Norges Bank purchased a new position in shares of Microsoft during the fourth quarter worth about $24,401,940,000. Nuveen Asset Management LLC grew its holdings in shares of Microsoft by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 57,181,533 shares of the software giant’s stock worth $19,231,292,000 after purchasing an additional 584,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Microsoft by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 39,096,786 shares of the software giant’s stock worth $13,149,038,000 after purchasing an additional 652,526 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.
Microsoft Stock Up 0.2 %
Shares of Microsoft stock opened at $258.52 on Friday. The company has a fifty day moving average price of $269.98 and a 200 day moving average price of $275.70. The company has a current ratio of 1.78, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Microsoft Co. has a twelve month low of $241.51 and a twelve month high of $349.67. The stock has a market cap of $1.93 trillion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 2.13 and a beta of 0.94.
Microsoft Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th were issued a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $2.48 dividend on an annualized basis and a yield of 0.96%. Microsoft’s dividend payout ratio is currently 25.73%.
Analyst Upgrades and Downgrades
MSFT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Microsoft from $350.00 to $330.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. JPMorgan Chase & Co. set a $320.00 price objective on Microsoft in a report on Thursday, June 9th. Redburn Partners initiated coverage on Microsoft in a report on Wednesday, June 29th. They set a “buy” rating and a $370.00 price target on the stock. BMO Capital Markets raised their price target on Microsoft from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Wolfe Research lowered their price target on Microsoft from $320.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. According to data from MarketBeat, Microsoft presently has a consensus rating of “Moderate Buy” and a consensus price target of $334.31.
Microsoft Company Profile
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; 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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