State Treasurer State of Michigan decreased its position in shares of Microsoft Corp. (NASDAQ:MSFT) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,653,969 shares of the software giant’s stock after selling 566,100 shares during the period. Microsoft Corp. makes up about 1.9% of State Treasurer State of Michigan’s holdings, making the stock its 6th largest position. State Treasurer State of Michigan owned approximately 0.06% of Microsoft Corp. worth $238,144,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MSFT. Invictus RG bought a new stake in Microsoft Corp. during the first quarter valued at about $107,000. Riggs Asset Managment Co. Inc. increased 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 last quarter. Lowe fs LLC increased 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 valued at $164,000 after buying an additional 44 shares during the last quarter. Wrapmanager Inc. acquired a new stake in shares of Microsoft Corp. during the first quarter valued at $205,000. Finally, CLS Investments LLC increased its stake in shares of Microsoft Corp. by 616.5% in the first quarter. CLS Investments LLC now owns 3,726 shares of the software giant’s stock valued at $206,000 after buying an additional 3,206 shares during the last quarter. 71.58% of the stock is owned by institutional investors.
Microsoft Corp. (NASDAQ:MSFT) traded down 0.26% during mid-day trading on Wednesday, hitting $57.04. The stock had a trading volume of 11,372,111 shares. Microsoft Corp. has a one year low of $46.53 and a one year high of $58.70. The company has a 50 day moving average price of $57.48 and a 200-day moving average price of $54.39. The company has a market cap of $444.49 billion, a price-to-earnings ratio of 27.16 and a beta of 1.09.
Microsoft Corp. (NASDAQ:MSFT) last released its earnings results on Tuesday, July 19th. The software giant reported $0.69 EPS for the quarter, beating the 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 analyst estimates of $22.15 billion. During the same period in the prior year, the business earned $0.60 earnings per share. Equities analysts expect that Microsoft Corp. will post $2.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.73%. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.36. Microsoft Corp.’s payout ratio is currently 70.24%.
Several equities research analysts have recently weighed in on MSFT shares. Sanford C. Bernstein set a $68.00 price target on Microsoft Corp. and gave the stock a “buy” rating in a report on Friday, July 15th. Jefferies Group set a $40.00 price target on Microsoft Corp. and gave the stock a “sell” rating in a report on Tuesday, September 27th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $62.00 price target on shares of Microsoft Corp. in a report on Friday, July 22nd. Argus reiterated a “hold” rating on shares of Microsoft Corp. in a report on Monday, July 25th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $55.00 price target on shares of Microsoft Corp. in a report on Wednesday, June 15th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $59.42.
In other news, CEO Satya Nadella sold 143,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $57.97, for a total transaction of $8,289,710.00. Following the sale, the chief executive officer now owns 1,200,822 shares in the company, valued at $69,611,651.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Gates III sold 2,500,000 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $55.94, for a total transaction of $139,850,000.00. The disclosure for this sale can be found here. Insiders own 3.76% of the company’s stock.
Microsoft Corp. Company Profile
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.
Receive News & Ratings for Microsoft Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft Corp. and related companies with MarketBeat.com's FREE daily email newsletter.