Concorde Asset Management LLC reduced its holdings in Microsoft Co. (NASDAQ:MSFT) by 8.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,357 shares of the software giant’s stock after selling 521 shares during the quarter. Concorde Asset Management LLC’s holdings in Microsoft were worth $722,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. LFA Lugano Financial Advisors SA raised its position in shares of Microsoft by 274.5% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock worth $26,000 after buying an additional 140 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Microsoft during the 4th quarter worth about $26,000. Asset Planning Services Ltd. bought a new stake in shares of Microsoft during the 2nd quarter worth about $116,000. Titan Capital Management LLC CA bought a new stake in shares of Microsoft during the 2nd quarter worth about $141,000. Finally, Semmax Financial Advisors Inc. bought a new stake in shares of Microsoft during the 4th quarter worth about $117,000. Institutional investors own 72.16% of the company’s stock.
In other news, CMO Christopher C. Capossela sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $135.58, for a total transaction of $1,220,220.00. Following the completion of the transaction, the chief marketing officer now directly owns 119,579 shares of the company’s stock, valued at approximately $16,212,520.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathleen T. Hogan sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $135.25, for a total transaction of $5,410,000.00. Following the transaction, the executive vice president now directly owns 198,042 shares of the company’s stock, valued at $26,785,180.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 318,757 shares of company stock valued at $43,735,918. 1.38% of the stock is owned by company insiders.
Shares of NASDAQ MSFT opened at $137.73 on Friday. The firm’s 50-day simple moving average is $137.23 and its 200 day simple moving average is $130.50. The company has a market cap of $1,064.07 billion, a price-to-earnings ratio of 29.00, a price-to-earnings-growth ratio of 2.42 and a beta of 1.22. The company has a quick ratio of 2.50, a current ratio of 2.53 and a debt-to-equity ratio of 0.71. Microsoft Co. has a 12-month low of $93.96 and a 12-month high of $142.37.
Microsoft (NASDAQ:MSFT) last released its earnings results on Thursday, July 18th. The software giant reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The company had revenue of $33.72 billion for the quarter, compared to the consensus estimate of $32.80 billion. Microsoft had a net margin of 31.18% and a return on equity of 39.26%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 EPS. On average, equities analysts expect that Microsoft Co. will post 5.23 earnings per share for the current year.
Microsoft announced that its board has authorized a share buyback program on Wednesday, September 18th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the software giant to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.48%. This is a boost from Microsoft’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, November 20th. Microsoft’s dividend payout ratio is presently 38.74%.
A number of analysts have commented on the stock. Citigroup boosted their price target on shares of Microsoft from $147.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Royal Bank of Canada restated a “buy” rating and set a $153.00 price target on shares of Microsoft in a research report on Wednesday, July 24th. Oppenheimer lifted their price objective on shares of Microsoft from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Morgan Stanley set a $155.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Microsoft from $147.00 to $153.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $149.21.
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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