Newman & Schimel LLC grew its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 8.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,434 shares of the software giant’s stock after acquiring an additional 275 shares during the quarter. Microsoft accounts for 0.4% of Newman & Schimel LLC’s holdings, making the stock its 22nd biggest position. Newman & Schimel LLC’s holdings in Microsoft were worth $800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of MSFT. Walled Lake Planning & Wealth Management LLC grew its stake in shares of Microsoft by 0.5% during the 2nd quarter. Walled Lake Planning & Wealth Management LLC now owns 7,369 shares of the software giant’s stock valued at $1,893,000 after purchasing an additional 38 shares during the period. Financial Advisors Network Inc. increased its holdings in Microsoft by 1.1% during the second quarter. Financial Advisors Network Inc. now owns 3,482 shares of the software giant’s stock valued at $894,000 after buying an additional 39 shares during the last quarter. Donoghue Forlines LLC raised its position in Microsoft by 1.6% in the second quarter. Donoghue Forlines LLC now owns 2,598 shares of the software giant’s stock worth $667,000 after acquiring an additional 40 shares during the period. Fountainhead AM LLC boosted its stake in shares of Microsoft by 1.0% during the 2nd quarter. Fountainhead AM LLC now owns 4,196 shares of the software giant’s stock worth $1,078,000 after acquiring an additional 41 shares during the last quarter. Finally, Lokken Investment Group LLC grew its position in shares of Microsoft by 0.3% during the 2nd quarter. Lokken Investment Group LLC now owns 11,976 shares of the software giant’s stock valued at $3,076,000 after acquiring an additional 41 shares during the period. 69.15% of the stock is currently owned by institutional investors and hedge funds.
Microsoft Stock Up 1.0 %
Shares of NASDAQ MSFT opened at $242.58 on Tuesday. Microsoft Co. has a 1 year low of $213.43 and a 1 year high of $315.95. The firm has a 50-day simple moving average of $241.72 and a two-hundred day simple moving average of $249.71. The company has a market cap of $1.81 trillion, a P/E ratio of 26.14, a PEG ratio of 2.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.84 and a quick ratio of 1.79.
Microsoft Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Wednesday, February 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, February 15th. Microsoft’s dividend payout ratio is currently 29.31%.
Wall Street Analyst Weigh In
MSFT has been the topic of several analyst reports. Wedbush lowered their target price on Microsoft from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Guggenheim lowered shares of Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 target price for the company. in a report on Tuesday, January 17th. The Goldman Sachs Group set a $315.00 price target on shares of Microsoft in a report on Tuesday, January 17th. Barclays reduced their price objective 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. Finally, Jefferies Financial Group set a $270.00 target price on shares of Microsoft in a research note on Thursday, January 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $287.79.
Insider Transactions at Microsoft
In related news, EVP Judson Althoff sold 24,144 shares of Microsoft stock in a transaction dated Thursday, December 1st. The shares were 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 owns 150,047 shares in the company, valued at approximately $38,152,450.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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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