Northern Capital Management Inc. cut its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,800 shares of the software giant’s stock after selling 107 shares during the period. Microsoft comprises approximately 1.1% of Northern Capital Management Inc.’s investment portfolio, making the stock its 14th biggest position. Northern Capital Management Inc.’s holdings in Microsoft were worth $1,118,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Phoenix Wealth Advisors boosted its holdings in shares of Microsoft by 2.0% during the 2nd quarter. Phoenix Wealth Advisors now owns 17,286 shares of the software giant’s stock valued at $4,440,000 after acquiring an additional 343 shares in the last quarter. Jmac Enterprises LLC boosted its stake in shares of Microsoft by 1.0% during the second quarter. Jmac Enterprises LLC now owns 16,798 shares of the software giant’s stock valued at $4,314,000 after purchasing an additional 169 shares in the last quarter. ARGI Investment Services LLC grew its holdings in shares of Microsoft by 9.9% during the second quarter. ARGI Investment Services LLC now owns 37,326 shares of the software giant’s stock worth $9,586,000 after purchasing an additional 3,358 shares during the last quarter. First PREMIER Bank increased its stake in shares of Microsoft by 0.3% in the second quarter. First PREMIER Bank now owns 26,082 shares of the software giant’s stock valued at $6,699,000 after buying an additional 79 shares during the period. Finally, Seaview Investment Managers LLC raised its holdings in Microsoft by 4.9% in the 2nd quarter. Seaview Investment Managers LLC now owns 26,839 shares of the software giant’s stock valued at $6,893,000 after buying an additional 1,261 shares during the last quarter. Institutional investors and hedge funds own 69.15% of the company’s stock.
Analyst Ratings Changes
A number of research firms have weighed in on MSFT. Jefferies Financial Group set a $270.00 target price on shares of Microsoft in a report on Thursday, January 5th. Wells Fargo & Company decreased their price objective on Microsoft from $315.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Moffett Nathanson began coverage on Microsoft in a report on Thursday, September 22nd. They set a “hold” rating and a $285.00 target price on the stock. Citigroup decreased their price target on Microsoft from $282.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Credit Suisse Group set a $365.00 price objective on Microsoft in a research note on Friday, December 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $288.33.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The software giant reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.06. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The business had revenue of $50.12 billion during the quarter, compared to the consensus estimate of $49.70 billion. During the same quarter in the prior year, the company posted $2.27 earnings per share. Microsoft’s revenue was up 10.6% compared to the same quarter last year. Equities analysts forecast that Microsoft Co. will post 9.52 earnings per share for the current fiscal year.
Microsoft Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 9th. Investors of record on Wednesday, February 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, February 15th. Microsoft’s payout ratio is currently 29.31%.
Insider Buying and Selling
In other Microsoft news, EVP Judson Althoff sold 24,144 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $254.27, for a total value of $6,139,094.88. Following the completion of the sale, the executive vice president now owns 150,047 shares in the company, valued at approximately $38,152,450.69. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.03% of the stock is owned by corporate insiders.
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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