Platform Technology Partners lifted its position in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,385 shares of the software giant’s stock after purchasing an additional 2,344 shares during the quarter. Microsoft comprises about 5.4% of Platform Technology Partners’ holdings, making the stock its 2nd biggest holding. Platform Technology Partners’ holdings in Microsoft were worth $9,859,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. boosted its stake in Microsoft by 1,316.7% during 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 buying an additional 79 shares during the period. Monumental Financial Group Inc. purchased a new position in Microsoft during the first quarter worth about $28,000. Newfound Research LLC boosted its stake in Microsoft by 25.4% during the second quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock worth $76,000 after buying an additional 60 shares during the period. Darrow Company Inc. purchased a new position in Microsoft during the second quarter worth about $82,000. Finally, Evolution Advisers Inc. boosted its stake in Microsoft by 36.4% during the first quarter. Evolution Advisers Inc. now owns 341 shares of the software giant’s stock worth $105,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on MSFT. Royal Bank of Canada lowered their target price on shares of Microsoft from $380.00 to $310.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Morgan Stanley lowered their target price on shares of Microsoft from $325.00 to $307.00 and set an “overweight” rating for the company in a research note on Wednesday, October 26th. Raymond James lowered their price objective on shares of Microsoft from $300.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Barclays set a $296.00 price objective on shares of Microsoft in a research note on Tuesday, November 1st. Finally, Fundamental Research lowered their price objective on shares of Microsoft to $270.00 and set a “buy” rating for the company in a research note on Tuesday, November 8th. Three investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $300.64.
Insider Activity at Microsoft
Microsoft Stock Performance
Shares of MSFT opened at $247.58 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The firm has a market cap 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. The company’s 50 day simple moving average is $237.22 and its 200-day simple moving average is $255.68. Microsoft Co. has a 12-month low of $213.43 and a 12-month high of $344.30.
Microsoft (NASDAQ:MSFT – Get Rating) last announced its earnings results on Tuesday, October 25th. The software giant reported $2.35 earnings per share (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 analyst estimates of $49.70 billion. Microsoft had a net margin of 34.37% and a return on equity of 42.10%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $2.27 earnings per share. As a group, equities analysts predict that Microsoft Co. will post 9.62 EPS for the current year.
Microsoft Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.10%. This is a positive change from Microsoft’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, November 16th. Microsoft’s dividend payout ratio (DPR) is 29.31%.
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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