Tortoise Investment Management LLC boosted its stake in Microsoft Corp. (NASDAQ:MSFT) by 16.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,423 shares of the software giant’s stock after buying an additional 1,220 shares during the period. Tortoise Investment Management LLC’s holdings in Microsoft Corp. were worth $431,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Euclid Advisors LLC increased its position in Microsoft Corp. by 24.6% in the first quarter. Euclid Advisors LLC now owns 672,938 shares of the software giant’s stock valued at $37,166,000 after buying an additional 132,695 shares in the last quarter. First Manhattan Co. increased its position in Microsoft Corp. by 1.4% in the second quarter. First Manhattan Co. now owns 7,974,066 shares of the software giant’s stock valued at $408,033,000 after buying an additional 108,933 shares in the last quarter. Roffman Miller Associates Inc. PA increased its position in Microsoft Corp. by 5.8% in the second quarter. Roffman Miller Associates Inc. PA now owns 390,571 shares of the software giant’s stock valued at $19,986,000 after buying an additional 21,496 shares in the last quarter. Mckinley Capital Management LLC Delaware increased its position in Microsoft Corp. by 24.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 914,066 shares of the software giant’s stock valued at $50,484,000 after buying an additional 182,140 shares in the last quarter. Finally, Trust Co. of Virginia VA increased its position in Microsoft Corp. by 2.6% in the second quarter. Trust Co. of Virginia VA now owns 219,968 shares of the software giant’s stock valued at $11,256,000 after buying an additional 5,568 shares in the last quarter. 71.58% of the stock is currently owned by hedge funds and other institutional investors.
Microsoft Corp. (NASDAQ:MSFT) traded up 0.88% during mid-day trading on Friday, reaching $57.42. 27,402,451 shares of the company traded hands. Microsoft Corp. has a 12-month low of $47.02 and a 12-month high of $58.70. The company’s 50-day moving average is $57.40 and its 200-day moving average is $54.45. The stock has a market capitalization of $447.45 billion, a price-to-earnings ratio of 27.34 and a beta of 1.09.
Microsoft Corp. (NASDAQ:MSFT) last announced its quarterly earnings data on Tuesday, July 19th. The software giant reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm earned $22.60 billion during the quarter, compared to the consensus estimate of $22.15 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. Equities analysts predict that Microsoft Corp. will post $2.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be given a $0.39 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $1.56 annualized dividend and a yield of 2.72%. This is an increase from Microsoft Corp.’s previous quarterly dividend of $0.36. Microsoft Corp.’s payout ratio is presently 70.24%.
MSFT has been the topic of several research reports. Cowen and Company restated an “outperform” rating and issued a $60.00 price target on shares of Microsoft Corp. in a research note on Friday, September 30th. Credit Agricole SA restated an “outperform” rating and issued a $60.00 price target on shares of Microsoft Corp. in a research note on Wednesday, October 5th. Vetr upgraded shares of Microsoft Corp. from a “hold” rating to a “buy” rating and set a $59.88 price target on the stock in a research note on Thursday, September 8th. Goldman Sachs Group Inc. set a $55.00 price target on shares of Microsoft Corp. and gave the company a “neutral” rating in a research note on Wednesday, June 29th. Finally, Jefferies Group set a $40.00 price target on shares of Microsoft Corp. and gave the company a “sell” rating in a research note on Tuesday, September 27th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the stock. Microsoft Corp. currently has a consensus rating of “Buy” and an average target price of $59.55.
In other Microsoft Corp. news, CFO Amy Hood sold 120,000 shares of the business’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 value of $6,943,200.00. Following the completion of the sale, the chief financial officer now owns 523,425 shares in the company, valued at $30,285,370.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $8,289,710.00. Following the completion of the sale, the chief executive officer now owns 1,200,822 shares of the company’s stock, valued at approximately $69,611,651.34. The disclosure for this sale can be found here. 3.76% of the stock is owned by company insiders.
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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