South Texas Money Management Ltd. lowered its position in shares of Microsoft Corp. (NASDAQ:MSFT) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 947,920 shares of the software giant’s stock after selling 5,681 shares during the period. Microsoft Corp. accounts for approximately 2.7% of South Texas Money Management Ltd.’s investment portfolio, making the stock its 4th largest position. South Texas Money Management Ltd.’s holdings in Microsoft Corp. were worth $48,505,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northstar Group Inc. boosted its stake in shares of Microsoft Corp. by 0.4% in the second quarter. Northstar Group Inc. now owns 3,953 shares of the software giant’s stock worth $202,000 after buying an additional 14 shares during the last quarter. McQueen Ball & Associates Inc. raised its position in Microsoft Corp. by 0.3% in the first quarter. McQueen Ball & Associates Inc. now owns 8,429 shares of the software giant’s stock worth $466,000 after buying an additional 25 shares in the last quarter. Palisade Capital Management LLC NJ raised its position in Microsoft Corp. by 0.4% in the first quarter. Palisade Capital Management LLC NJ now owns 6,744 shares of the software giant’s stock worth $372,000 after buying an additional 27 shares in the last quarter. Lowe fs LLC raised its position in Microsoft Corp. by 1.4% in the second quarter. Lowe fs LLC now owns 3,206 shares of the software giant’s stock worth $164,000 after buying an additional 44 shares in the last quarter. Finally, First United Bank Trust raised its position in Microsoft Corp. by 0.6% in the second quarter. First United Bank Trust now owns 7,931 shares of the software giant’s stock worth $406,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 71.58% of the company’s stock.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 1.85% on Tuesday, reaching $57.95. 27,466,758 shares of the company traded hands. Microsoft Corp. has a one year low of $43.05 and a one year high of $58.70. The company has a market capitalization of $451.58 billion, a PE ratio of 27.60 and a beta of 1.08. The firm has a 50-day moving average price of $57.55 and a 200 day moving average price of $54.09.
Microsoft Corp. (NASDAQ:MSFT) last announced its quarterly earnings data on Tuesday, July 19th. The software giant reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.11. Microsoft Corp. had a return on equity of 29.38% and a net margin of 19.33%. The business had revenue of $22.60 billion for the quarter, compared to analysts’ expectations of $22.15 billion. During the same period in the previous year, the business posted $0.60 EPS. Equities analysts forecast that Microsoft Corp. will post $2.90 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This is a boost from Microsoft Corp.’s previous quarterly dividend of $0.36. This represents a $1.56 annualized dividend and a dividend yield of 2.69%. Microsoft Corp.’s dividend payout ratio is currently 70.24%.
A number of equities research analysts have issued reports on MSFT shares. Vetr downgraded shares of Microsoft Corp. from a “buy” rating to a “hold” rating and set a $59.96 target price for the company. in a research report on Wednesday, September 21st. Goldman Sachs Group Inc. set a $55.00 target price on shares of Microsoft Corp. and gave the stock a “neutral” rating in a research report on Wednesday, June 29th. Citigroup Inc. increased their target price on shares of Microsoft Corp. from $36.00 to $37.00 and gave the stock a “sell” rating in a research report on Thursday, July 7th. Macquarie reiterated a “neutral” rating and issued a $54.00 target price on shares of Microsoft Corp. in a research report on Friday. Finally, Pacific Crest reiterated a “buy” rating and issued a $65.00 target price on shares of Microsoft Corp. in a research report on Tuesday, September 13th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $59.34.
In related news, CFO Amy Hood sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $57.86, for a total value of $6,943,200.00. Following the transaction, the chief financial officer now directly owns 523,425 shares in the company, valued at $30,285,370.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Satya Nadella sold 143,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $57.97, for a total transaction of $8,289,710.00. Following the completion of the transaction, the chief executive officer now owns 1,200,822 shares in the company, valued at $69,611,651.34. The disclosure for this sale can be found here. Insiders own 3.76% of the company’s stock.
About Microsoft Corp.
Microsoft Corporation is a technology company. The Company develops, licenses and supports a range of software products, services and devices. Its segments are Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Its products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.
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