Palladium Partners LLC boosted its stake in Microsoft Corp. (NASDAQ:MSFT) by 33.1% during the second quarter, Holdings Channel reports. The fund owned 435,428 shares of the software giant’s stock after buying an additional 108,403 shares during the period. Microsoft Corp. accounts for 2.0% of Palladium Partners LLC’s investment portfolio, making the stock its 12th largest position. Palladium Partners LLC’s holdings in Microsoft Corp. were worth $22,281,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Premier Asset Managment LLC increased its position in shares of Microsoft Corp. by 7.5% in the second quarter. Premier Asset Managment LLC now owns 20,188 shares of the software giant’s stock worth $1,033,000 after buying an additional 1,400 shares in the last quarter. North American Management Corp increased its position in shares of Microsoft Corp. by 5.1% in the second quarter. North American Management Corp now owns 193,541 shares of the software giant’s stock worth $9,903,000 after buying an additional 9,376 shares in the last quarter. Investment Counsel Inc. increased its position in shares of Microsoft Corp. by 7.8% in the second quarter. Investment Counsel Inc. now owns 49,984 shares of the software giant’s stock worth $2,558,000 after buying an additional 3,638 shares in the last quarter. iAB Financial Bank increased its position in shares of Microsoft Corp. by 5.7% in the second quarter. iAB Financial Bank now owns 29,325 shares of the software giant’s stock worth $1,501,000 after buying an additional 1,571 shares in the last quarter. Finally, Leavell Investment Management Inc. increased its position in shares of Microsoft Corp. by 20.6% in the second quarter. Leavell Investment Management Inc. now owns 76,947 shares of the software giant’s stock worth $3,937,000 after buying an additional 13,147 shares in the last quarter. Institutional investors own 71.58% of the company’s stock.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 0.10% during mid-day trading on Friday, hitting $57.80. The stock had a trading volume of 20,089,020 shares. The stock has a market cap of $450.41 billion, a P/E ratio of 27.52 and a beta of 1.09. The company’s 50 day moving average price is $57.48 and its 200 day moving average price is $54.34. Microsoft Corp. has a 12-month low of $46.50 and a 12-month high of $58.70.
Microsoft Corp. (NASDAQ:MSFT) last issued its quarterly earnings data on Tuesday, July 19th. The software giant reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.11. Microsoft Corp. had a net margin of 19.33% and a return on equity of 29.38%. The business earned $22.60 billion during the quarter, compared to analysts’ expectations of $22.15 billion. During the same period last year, the company posted $0.60 EPS. Equities research analysts predict that Microsoft Corp. will post $2.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from Microsoft Corp.’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, November 15th. Microsoft Corp.’s dividend payout ratio (DPR) is 70.24%.
A number of research analysts have recently issued reports on MSFT shares. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $56.00 price target on shares of Microsoft Corp. in a report on Monday, June 13th. Evercore ISI restated a “buy” rating on shares of Microsoft Corp. in a research note on Monday, June 13th. Sanford C. Bernstein restated an “outperform” rating and set a $68.00 target price on shares of Microsoft Corp. in a research note on Monday, June 13th. Raymond James Financial Inc. restated a “strong-buy” rating on shares of Microsoft Corp. in a research note on Monday, June 13th. Finally, Jefferies Group set a $40.00 target price on Microsoft Corp. and gave the stock a “sell” rating in a research note on Tuesday, June 14th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $59.41.
In other Microsoft Corp. news, CEO Satya Nadella sold 143,000 shares of Microsoft Corp. stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $57.97, for a total value of $8,289,710.00. Following the completion of the sale, the chief executive officer now directly owns 1,200,822 shares of the company’s stock, valued at approximately $69,611,651.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider G Mason Morfit sold 18,000,000 shares of Microsoft Corp. stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $56.12, for a total transaction 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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