Tradition Capital Management LLC cut its stake in Microsoft Corp. (NASDAQ:MSFT) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 139,495 shares of the software giant’s stock after selling 4,778 shares during the period. Microsoft Corp. makes up about 2.4% of Tradition Capital Management LLC’s portfolio, making the stock its 4th largest position. Tradition Capital Management LLC’s holdings in Microsoft Corp. were worth $7,138,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. Invictus RG acquired a new stake in shares of Microsoft Corp. during the first quarter valued at approximately $107,000. Riggs Asset Managment Co. Inc. boosted its stake in shares of Microsoft Corp. by 6.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 2,375 shares of the software giant’s stock valued at $122,000 after buying an additional 147 shares during the period. Lowe fs LLC boosted its stake in shares of 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 during the last quarter. 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. Finally, Wrapmanager Inc. purchased a new stake in shares of Microsoft Corp. during the first quarter worth about $205,000. 71.58% of the stock is owned by institutional investors.
Microsoft Corp. (NASDAQ:MSFT) traded down 1.09% during mid-day trading on Thursday, hitting $57.40. 25,125,848 shares of the stock were exchanged. Microsoft Corp. has a 52-week low of $43.75 and a 52-week high of $58.70. The stock has a 50 day moving average of $57.54 and a 200-day moving average of $54.15. The stock has a market cap of $447.29 billion, a price-to-earnings ratio of 27.33 and a beta of 1.08.
Microsoft Corp. (NASDAQ:MSFT) last released its earnings results on Tuesday, July 19th. The software giant reported $0.69 earnings per share for the quarter, topping the 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 earned $22.60 billion during the quarter, compared to the consensus estimate of $22.15 billion. During the same period last year, the company earned $0.60 earnings per share. Equities analysts predict that Microsoft Corp. will post $2.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be issued a $0.39 dividend. The ex-dividend date is Tuesday, November 15th. This is an increase from Microsoft Corp.’s previous quarterly dividend of $0.36. This represents a $1.56 dividend on an annualized basis and a yield of 2.72%. Microsoft Corp.’s payout ratio is currently 70.24%.
A number of research analysts recently commented on the stock. Vetr upgraded shares of Microsoft Corp. from a “buy” rating to a “strong-buy” rating and set a $57.13 price target on the stock in a research report on Tuesday, June 14th. Citigroup Inc. reiterated a “sell” rating and set a $36.00 price target on shares of Microsoft Corp. in a research report on Tuesday, June 14th. Royal Bank Of Canada increased their price target on shares of Microsoft Corp. from $57.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 1st. Barclays PLC increased their price target on shares of Microsoft Corp. from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 1st. Finally, Wunderlich increased their price objective on shares of Microsoft Corp. from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, July 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $59.34.
In other news, CFO Amy Hood sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $57.86, for a total transaction of $6,943,200.00. Following the completion of the transaction, the chief financial officer now directly owns 523,425 shares of the company’s stock, valued at approximately $30,285,370.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider G Mason Morfit sold 18,000,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $56.12, for a total value of $1,010,160,000.00. 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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