Cullinan Associates Inc. increased its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 8.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,741 shares of the software giant’s stock after purchasing an additional 19,651 shares during the period. Microsoft makes up approximately 3.8% of Cullinan Associates Inc.’s investment portfolio, making the stock its 4th largest holding. Cullinan Associates Inc.’s holdings in Microsoft were worth $62,600,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of 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 purchasing an additional 7,210 shares during the period. Arbor Investment Advisors LLC grew its stake in shares of 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 purchasing an additional 1,357 shares during the period. KRS Capital Management LLC grew its stake in shares of Microsoft by 4.8% during the first quarter. KRS Capital Management LLC now owns 4,781 shares of the software giant’s stock worth $1,474,000 after purchasing an additional 218 shares during the period. Dfpg Investments LLC grew its stake in shares of 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 purchasing an additional 5,030 shares during the period. Finally, Allworth Financial LP grew its stake in shares of 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 purchasing an additional 43,189 shares during the period. 69.29% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Microsoft news, CMO Christopher C. Capossela sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $266.25, for a total transaction of $1,331,250.00. Following the transaction, the chief marketing officer now owns 109,837 shares of the company’s stock, valued at $29,244,101.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.05% of the company’s stock.
Microsoft Price Performance
Microsoft (NASDAQ:MSFT – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The software giant reported $2.23 earnings per share 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 period last year, the company posted $2.17 EPS. As a group, sell-side analysts forecast that Microsoft Co. will post 10.15 EPS for the current fiscal year.
Microsoft Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.12%. This is an increase from Microsoft’s previous quarterly dividend of $0.62. Microsoft’s payout ratio is 25.73%.
Analyst Upgrades and Downgrades
MSFT has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased 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. Citigroup reduced their target price on Microsoft from $330.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Wedbush reduced their target price on Microsoft from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Fundamental Research reiterated a “hold” rating and set a $280.50 target price on shares of Microsoft in a report on Wednesday, August 3rd. Finally, Cowen reduced their target price on Microsoft from $330.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to data from MarketBeat, Microsoft 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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