Carnegie Capital Asset Management LLC trimmed its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 274,709 shares of the software giant’s stock after selling 8,959 shares during the period. Microsoft comprises about 3.1% of Carnegie Capital Asset Management LLC’s holdings, making the stock its 2nd biggest position. Carnegie Capital Asset Management LLC’s holdings in Microsoft were worth $70,553,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Northwest Wealth Management LLC lifted its holdings in Microsoft by 0.8% in the 1st quarter. Northwest Wealth Management LLC now owns 4,536 shares of the software giant’s stock worth $1,399,000 after buying an additional 37 shares in the last quarter. Flynn Zito Capital Management LLC increased its position in shares of Microsoft by 0.4% in the 1st quarter. Flynn Zito Capital Management LLC now owns 10,532 shares of the software giant’s stock worth $3,247,000 after purchasing an additional 38 shares during the last quarter. Trinity Financial Advisors LLC increased its position in shares of Microsoft by 0.9% in the 1st quarter. Trinity Financial Advisors LLC now owns 4,636 shares of the software giant’s stock worth $1,429,000 after purchasing an additional 40 shares during the last quarter. Atlas Financial Advisors Inc. increased its position in shares of Microsoft by 3.3% in the 1st quarter. Atlas Financial Advisors Inc. now owns 1,267 shares of the software giant’s stock worth $391,000 after purchasing an additional 40 shares during the last quarter. Finally, Personal Wealth Partners increased its position in shares of Microsoft by 1.9% in the 1st quarter. Personal Wealth Partners now owns 2,286 shares of the software giant’s stock worth $705,000 after purchasing an additional 42 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Microsoft
In other news, CMO Christopher C. Capossela sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $266.25, for a total transaction of $1,331,250.00. Following the sale, the chief marketing officer now owns 109,837 shares in the company, valued at $29,244,101.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.03% of the company’s stock.
Microsoft Trading Down 2.3 %
Microsoft (NASDAQ:MSFT – Get Rating) last released its earnings results on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Microsoft had a net margin of 34.37% and a return on equity of 42.10%. The business had revenue of $50.12 billion during the quarter, compared to analyst estimates of $49.70 billion. During the same period in the prior year, the business earned $2.27 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts anticipate that Microsoft Co. will post 9.62 earnings per share for the current fiscal year.
Microsoft Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This is a positive change from Microsoft’s previous quarterly dividend of $0.62. This represents a $2.72 annualized dividend and a yield of 1.13%. Microsoft’s dividend payout ratio is currently 26.72%.
Analyst Ratings Changes
MSFT has been the subject of several research analyst reports. Evercore ISI dropped their target price on shares of Microsoft from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Guggenheim initiated coverage on shares of Microsoft in a research report on Friday, August 12th. They issued a “neutral” rating and a $292.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Microsoft from $305.00 to $275.00 in a research report on Wednesday, October 26th. Itau BBA Securities began coverage on shares of Microsoft in a research report on Tuesday, July 26th. They issued an “outperform” rating and a $287.00 target price for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Microsoft from $315.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday, October 26th. Three analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to MarketBeat, Microsoft presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.64.
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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