Empire Life Investments Inc. Purchases 57,128 Shares of Microsoft Co. (NASDAQ:MSFT)

Empire Life Investments Inc. grew its stake in shares of Microsoft Co. (NASDAQ:MSFTGet Rating) by 28.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 258,779 shares of the software giant’s stock after purchasing an additional 57,128 shares during the period. Microsoft makes up 4.8% of Empire Life Investments Inc.’s investment portfolio, making the stock its 2nd biggest holding. Empire Life Investments Inc.’s holdings in Microsoft were worth $66,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. grew its position in shares of Microsoft by 1,316.7% during the 1st quarter. University of Texas Texas AM Investment Managment Co. now owns 85 shares of the software giant’s stock valued at $26,000 after acquiring an additional 79 shares during the period. Monumental Financial Group Inc. bought a new position in shares of Microsoft during the 1st quarter valued at approximately $28,000. Tobam lifted its stake in shares of Microsoft by 15,400.0% during the 1st quarter. Tobam now owns 155 shares of the software giant’s stock valued at $48,000 after buying an additional 154 shares in the last quarter. Newfound Research LLC lifted its stake in shares of Microsoft by 25.4% during the 2nd quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock valued at $76,000 after buying an additional 60 shares in the last quarter. Finally, Darrow Company Inc. purchased a new stake in shares of Microsoft during the 2nd quarter valued at approximately $82,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MSFT. Itaú Unibanco began coverage on shares of Microsoft in a research note on Tuesday, July 26th. They set an “outperform” rating and a $287.00 price target on the stock. Itau BBA Securities began coverage on shares of Microsoft in a research note on Tuesday, July 26th. They set an “outperform” rating and a $287.00 price target on the stock. Wells Fargo & Company lowered their target price on shares of Microsoft from $315.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Raymond James lowered their target price on shares of Microsoft from $300.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Finally, Barclays set a $296.00 target price on shares of Microsoft in a research note on Tuesday, November 1st. Three analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $300.64.

Microsoft Stock Performance

Shares of Microsoft stock opened at $241.22 on Friday. The firm has a market capitalization of $1.80 trillion, a P/E ratio of 25.99, a PEG ratio of 2.33 and a beta of 0.92. The company has a quick ratio of 1.79, a current ratio of 1.84 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $237.85 and a 200 day moving average price of $256.37. Microsoft Co. has a 52 week low of $213.43 and a 52 week high of $349.67.

Microsoft (NASDAQ:MSFTGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. The business had revenue of $50.12 billion for the quarter, compared to analysts’ expectations of $49.70 billion. Microsoft had a net margin of 34.37% and a return on equity of 42.10%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $2.27 EPS. Sell-side analysts expect that Microsoft Co. will post 9.62 EPS for the current year.

Microsoft Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $2.72 dividend on an annualized basis and a yield of 1.13%. This is a boost from Microsoft’s previous quarterly dividend of $0.62. Microsoft’s dividend payout ratio (DPR) is currently 29.31%.

Insider Buying and Selling at Microsoft

In other Microsoft news, CMO Christopher C. Capossela sold 5,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $266.25, for a total value of $1,331,250.00. Following the transaction, the chief marketing officer now owns 109,837 shares in the company, valued at approximately $29,244,101.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by insiders.

About Microsoft

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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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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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