Kesler Norman & Wride LLC increased its holdings in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,816 shares of the software giant’s stock after acquiring an additional 1,278 shares during the quarter. Microsoft comprises approximately 2.5% of Kesler Norman & Wride LLC’s portfolio, making the stock its 3rd biggest position. Kesler Norman & Wride LLC’s holdings in Microsoft were worth $8,807,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Monumental Financial Group Inc. purchased a new stake in Microsoft in the first quarter worth $28,000. Newfound Research LLC lifted its position in Microsoft by 25.4% during the second quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock valued at $76,000 after buying an additional 60 shares during the period. Darrow Company Inc. purchased a new position in Microsoft during the second quarter valued at $82,000. Morgan Dempsey Capital Management LLC purchased a new position in Microsoft during the third quarter valued at $82,000. Finally, Avondale Wealth Management lifted its position in Microsoft by 58.6% during the third quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock valued at $95,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 69.15% of the company’s stock.
Microsoft Stock Up 1.2 %
MSFT stock opened at $224.93 on Friday. Microsoft Co. has a twelve month low of $213.43 and a twelve month high of $323.41. 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 stock has a market cap of $1.68 trillion, a P/E ratio of 24.24, a PEG ratio of 2.18 and a beta of 0.94. The business’s 50-day moving average price is $240.31 and its 200-day moving average price is $251.71.
Microsoft Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Wednesday, February 15th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.21%. Microsoft’s payout ratio is currently 29.31%.
In related news, EVP Judson Althoff sold 24,144 shares of the business’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $254.27, for a total value of $6,139,094.88. Following the transaction, the executive vice president now directly owns 150,047 shares of the company’s stock, valued at approximately $38,152,450.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.03% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have commented on MSFT. Cowen lowered their price objective on Microsoft from $310.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on Microsoft from $315.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Rosenblatt Securities reduced their price target on Microsoft from $300.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, October 27th. Moffett Nathanson began coverage on Microsoft in a report on Thursday, September 22nd. They set a “hold” rating and a $285.00 price target for the company. Finally, Morgan Stanley reduced their price target on Microsoft from $325.00 to $307.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Four research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.88.
Microsoft Company Profile
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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