TD Asset Management Inc. lowered its holdings in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,531,657 shares of the software giant’s stock after selling 46,920 shares during the period. Microsoft comprises 4.3% of TD Asset Management Inc.’s holdings, making the stock its 2nd largest position. TD Asset Management Inc. owned approximately 0.19% of Microsoft worth $3,732,165,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. boosted its position in Microsoft by 1,316.7% in the first quarter. University of Texas Texas AM Investment Managment Co. now owns 85 shares of the software giant’s stock worth $26,000 after purchasing an additional 79 shares during the last quarter. Monumental Financial Group Inc. purchased a new position in Microsoft in the first quarter worth $28,000. Newfound Research LLC boosted its position in Microsoft by 25.4% in the second quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock worth $76,000 after purchasing an additional 60 shares during the last quarter. Darrow Company Inc. purchased a new position in shares of Microsoft during the 2nd quarter valued at $82,000. Finally, Evolution Advisers Inc. lifted its position in shares of Microsoft by 36.4% during the 1st quarter. Evolution Advisers Inc. now owns 341 shares of the software giant’s stock valued at $105,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on MSFT shares. Wells Fargo & Company lowered their price objective on Microsoft from $315.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Barclays set a $296.00 price target on shares of Microsoft in a research note on Tuesday, November 1st. Oppenheimer dropped their price target on shares of Microsoft from $275.00 to $265.00 in a research note on Wednesday, October 26th. Guggenheim initiated coverage on shares of Microsoft in a research note on Friday, August 12th. They set a “neutral” rating and a $292.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Microsoft from $315.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. Three analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $300.64.
Microsoft Trading Up 1.2 %
Microsoft (NASDAQ:MSFT – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The software giant reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. The business had revenue of $50.12 billion during 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 firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.27 EPS. On average, research analysts anticipate that Microsoft Co. will post 9.62 EPS for the current year.
Microsoft Increases Dividend
The company 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. The ex-dividend date is Wednesday, November 16th. This represents a $2.72 annualized dividend and a yield of 1.11%. This is a boost from Microsoft’s previous quarterly dividend of $0.62. Microsoft’s dividend payout ratio is presently 29.31%.
In related news, CMO Christopher C. Capossela sold 5,000 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $266.25, for a total value of $1,331,250.00. Following the completion of the transaction, the chief marketing officer now directly owns 109,837 shares of the company’s stock, valued at $29,244,101.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.03% of the company’s stock.
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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