Ellenbecker Investment Group lessened its stake in Microsoft Co. (NASDAQ:MSFT) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,394 shares of the software giant’s stock after selling 111 shares during the quarter. Microsoft accounts for about 0.6% of Ellenbecker Investment Group’s holdings, making the stock its 21st biggest position. Ellenbecker Investment Group’s holdings in Microsoft were worth $1,028,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in MSFT. Nuveen Asset Management LLC grew its position in Microsoft by 2,651.8% in the second quarter. Nuveen Asset Management LLC now owns 67,353,275 shares of the software giant’s stock worth $9,022,645,000 after acquiring an additional 64,905,685 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in Microsoft by 13,479.6% in the second quarter. Thoroughbred Financial Services LLC now owns 8,726,283 shares of the software giant’s stock worth $872,628,000 after acquiring an additional 8,662,023 shares in the last quarter. Vanguard Group Inc. grew its position in Microsoft by 1.3% in the second quarter. Vanguard Group Inc. now owns 613,005,516 shares of the software giant’s stock worth $82,118,218,000 after acquiring an additional 7,724,483 shares in the last quarter. Edgewood Management LLC bought a new stake in Microsoft in the second quarter worth approximately $620,230,000. Finally, Parnassus Investments CA grew its position in Microsoft by 87.9% in the second quarter. Parnassus Investments CA now owns 8,818,322 shares of the software giant’s stock worth $1,181,303,000 after acquiring an additional 4,126,121 shares in the last quarter. Hedge funds and other institutional investors own 72.16% of the company’s stock.
NASDAQ MSFT opened at $139.68 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.50 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $137.45 and a 200 day simple moving average of $132.03. The company has a market cap of $1,066.51 billion, a P/E ratio of 29.41, a P/E/G ratio of 2.35 and a beta of 1.22. Microsoft Co. has a 1 year low of $93.96 and a 1 year high of $142.37.
Microsoft announced that its Board of Directors has authorized a share repurchase plan on Wednesday, September 18th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the software giant to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.51 per share. This is an increase from Microsoft’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, November 20th. Microsoft’s dividend payout ratio is currently 38.74%.
In other Microsoft news, CFO Amy Hood sold 123,769 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $137.26, for a total value of $16,988,532.94. Following the completion of the sale, the chief financial officer now directly owns 433,940 shares of the company’s stock, valued at approximately $59,562,604.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frank H. Brod sold 4,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $141.05, for a total transaction of $564,200.00. Following the completion of the sale, the insider now directly owns 64,152 shares of the company’s stock, valued at $9,048,639.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 318,757 shares of company stock valued at $43,735,918. Insiders own 1.38% of the company’s stock.
Several research firms have commented on MSFT. Argus boosted their target price on shares of Microsoft to $158.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. CIBC boosted their target price on shares of Microsoft from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Morgan Stanley set a $155.00 target price on shares of Microsoft and gave the stock a “buy” rating in a research report on Monday, September 23rd. Stifel Nicolaus boosted their target price on shares of Microsoft from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine downgraded shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $151.52.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.
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