Addison Advisors LLC grew its position in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,879 shares of the software giant’s stock after purchasing an additional 163 shares during the period. Microsoft makes up approximately 2.3% of Addison Advisors LLC’s holdings, making the stock its 8th largest holding. Addison Advisors LLC’s holdings in Microsoft were worth $3,821,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vishria Bird Financial Group LLC lifted its stake in shares of Microsoft by 0.9% in the 2nd quarter. Vishria Bird Financial Group LLC now owns 38,112 shares of the software giant’s stock valued at $9,788,000 after purchasing an additional 326 shares in the last quarter. NorthRock Partners LLC lifted its stake in shares of Microsoft by 4.9% in the 2nd quarter. NorthRock Partners LLC now owns 55,014 shares of the software giant’s stock valued at $14,129,000 after purchasing an additional 2,558 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its position in Microsoft by 297.9% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 12,487 shares of the software giant’s stock worth $3,207,000 after acquiring an additional 9,349 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Microsoft by 7.3% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,701,162 shares of the software giant’s stock worth $1,207,399,000 after acquiring an additional 320,211 shares in the last quarter. Finally, Iyo Bank Ltd. lifted its position in Microsoft by 12.3% during the 2nd quarter. Iyo Bank Ltd. now owns 66,077 shares of the software giant’s stock worth $16,971,000 after acquiring an additional 7,235 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.
Microsoft Trading Up 1.0 %
Shares of MSFT stock opened at $247.58 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 1.84. Microsoft Co. has a 1 year low of $213.43 and a 1 year high of $344.30. The stock has a fifty day moving average of $237.22 and a two-hundred day moving average of $255.68. The firm has a market capitalization of $1.85 trillion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 2.33 and a beta of 0.92.
Microsoft Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be issued a $0.68 dividend. This is a positive change from Microsoft’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $2.72 annualized dividend and a dividend yield of 1.10%. Microsoft’s dividend payout ratio is 29.31%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on MSFT shares. Credit Suisse Group reduced their price target on Microsoft from $400.00 to $365.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Wolfe Research reduced their price target on Microsoft from $340.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Cowen reduced their price target on Microsoft from $310.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Oppenheimer reduced their price target on Microsoft from $275.00 to $265.00 in a research report on Wednesday, October 26th. Finally, Moffett Nathanson began coverage on Microsoft in a report on Thursday, September 22nd. They set a “hold” rating and a $285.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to MarketBeat, Microsoft currently has an average rating of “Moderate Buy” and a consensus target price of $300.64.
In other news, CMO Christopher C. Capossela sold 5,000 shares of the company’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 completion of the sale, the chief marketing officer now owns 109,837 shares in the company, valued at $29,244,101.25. The sale was disclosed in a legal filing with the SEC, which is available at 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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