Perkins Capital Management Inc. decreased its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,326 shares of the software giant’s stock after selling 167 shares during the period. Microsoft comprises 4.0% of Perkins Capital Management Inc.’s portfolio, making the stock its 4th largest holding. Perkins Capital Management Inc.’s holdings in Microsoft were worth $3,569,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MSFT. Monumental Financial Group Inc. bought a new position in shares of Microsoft in the 1st quarter worth approximately $28,000. Newfound Research LLC raised 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 acquiring an additional 60 shares during the period. Grayhawk Investment Strategies Inc. purchased a new position in shares of Microsoft during the 2nd quarter worth $104,000. Darrow Company Inc. bought a new stake in shares of Microsoft during the 2nd quarter valued at $82,000. Finally, Morgan Dempsey Capital Management LLC bought a new stake in Microsoft during the third quarter valued at about $82,000. Hedge funds and other institutional investors own 69.15% of the company’s stock.
Microsoft Trading Down 1.6 %
Shares of MSFT opened at $231.93 on Friday. The company’s fifty day simple moving average is $241.84 and its 200-day simple moving average is $250.23. The company has a market cap of $1.73 trillion, a P/E ratio of 24.99, a P/E/G ratio of 2.35 and a beta of 0.94. The company has a current ratio of 1.84, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Microsoft Co. has a twelve month low of $213.43 and a twelve month high of $315.95.
Microsoft Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Wednesday, February 15th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.17%. Microsoft’s payout ratio is 29.31%.
Analyst Upgrades and Downgrades
Several research firms have recently commented on MSFT. Moffett Nathanson began coverage on Microsoft in a research note on Thursday, September 22nd. They issued a “hold” rating and a $285.00 price objective on the stock. Macquarie initiated coverage on shares of Microsoft in a research note on Wednesday, November 2nd. They set a “neutral” rating and a $234.00 target price on the stock. Guggenheim lowered shares of Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 price target for the company. in a research report on Tuesday. Cowen lowered their target price on shares of Microsoft from $285.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada set a $285.00 price objective on Microsoft in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and an average price target of $288.33.
Insider Transactions at Microsoft
In other news, EVP Judson Althoff sold 24,144 shares of the company’s 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 transaction, the executive vice president now directly owns 150,047 shares in the company, valued at $38,152,450.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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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