Segment Wealth Management LLC grew its position in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,404 shares of the software giant’s stock after purchasing an additional 3,872 shares during the period. Microsoft makes up approximately 1.8% of Segment Wealth Management LLC’s investment portfolio, making the stock its 5th largest holding. Segment Wealth Management LLC’s holdings in Microsoft were worth $14,301,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of MSFT. Monumental Financial Group Inc. bought a new position in shares of Microsoft during the 1st quarter worth approximately $28,000. Newfound Research LLC boosted its holdings 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 purchasing an additional 60 shares during the last quarter. Grayhawk Investment Strategies Inc. bought a new position in Microsoft in the second quarter valued at $104,000. Darrow Company Inc. acquired a new stake in Microsoft in the 2nd quarter valued at $82,000. Finally, Morgan Dempsey Capital Management LLC bought a new stake in Microsoft during the 3rd quarter worth about $82,000. 69.15% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Microsoft
In related news, EVP Judson Althoff sold 24,144 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $254.27, for a total transaction of $6,139,094.88. Following the completion of the sale, the executive vice president now directly owns 150,047 shares in the company, valued at approximately $38,152,450.69. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.03% of the company’s stock.
Microsoft Price Performance
Microsoft (NASDAQ:MSFT – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.06. The company had revenue of $50.12 billion for the quarter, compared to analysts’ expectations of $49.70 billion. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. Microsoft’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business earned $2.27 earnings per share. As a group, research analysts expect that Microsoft Co. will post 9.52 EPS for the current fiscal year.
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 dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.17%. The ex-dividend date is Wednesday, February 15th. Microsoft’s payout ratio is presently 29.31%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on MSFT shares. Fundamental Research decreased their price objective on Microsoft to $270.00 and set a “buy” rating for the company in a report on Tuesday, November 8th. Cowen lowered their price target on Microsoft from $285.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday. Mizuho cut their price objective on Microsoft from $320.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Wells Fargo & Company lowered their target price on shares of Microsoft from $315.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Finally, Barclays cut their price target on shares of Microsoft from $296.00 to $280.00 and set an “overweight” rating for the company in a research note on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and a consensus target price of $288.33.
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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