Hallmark Capital Management Inc. increased its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 150,272 shares of the software giant’s stock after purchasing an additional 10,011 shares during the quarter. Microsoft makes up approximately 2.1% of Hallmark Capital Management Inc.’s portfolio, making the stock its 9th largest position. Hallmark Capital Management Inc.’s holdings in Microsoft were worth $20,130,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. CWM LLC raised its position in shares of Microsoft by 18.1% during the 4th quarter. CWM LLC now owns 45,143 shares of the software giant’s stock valued at $4,585,000 after buying an additional 6,934 shares during the period. Beese Fulmer Investment Management Inc. raised its position in shares of Microsoft by 2.6% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 128,320 shares of the software giant’s stock valued at $13,033,000 after buying an additional 3,312 shares during the period. Sonora Investment Management LLC raised its position in shares of Microsoft by 3.1% during the 4th quarter. Sonora Investment Management LLC now owns 141,498 shares of the software giant’s stock valued at $14,372,000 after buying an additional 4,286 shares during the period. Financial Consulate Inc. raised its position in shares of Microsoft by 1.0% during the 4th quarter. Financial Consulate Inc. now owns 14,509 shares of the software giant’s stock valued at $1,474,000 after buying an additional 140 shares during the period. Finally, Tandem Investment Advisors Inc. raised its position in shares of Microsoft by 16.2% during the 4th quarter. Tandem Investment Advisors Inc. now owns 109,875 shares of the software giant’s stock valued at $11,160,000 after buying an additional 15,335 shares during the period. Institutional investors and hedge funds own 72.16% of the company’s stock.
NASDAQ:MSFT opened at $137.73 on Friday. 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 fifty day simple moving average of $137.23 and a two-hundred day simple moving average of $130.50. Microsoft Co. has a 52 week low of $93.96 and a 52 week high of $142.37. 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 (NASDAQ:MSFT) last released its quarterly earnings data on Thursday, July 18th. The software giant reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.16. The business had revenue of $33.72 billion during the quarter, compared to analysts’ expectations of $32.80 billion. Microsoft had a net margin of 31.18% and a return on equity of 39.26%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 EPS. On average, analysts expect that Microsoft Co. will post 5.23 EPS for the current year.
Microsoft declared that its Board of Directors has authorized a stock repurchase program on Wednesday, September 18th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the software giant to repurchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.51 per share. This is a boost from Microsoft’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Wednesday, November 20th. Microsoft’s payout ratio is 38.74%.
In other news, CFO Amy Hood sold 123,769 shares of the company’s stock in a transaction dated 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 $59,562,604.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Christopher C. Capossela sold 3,372 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $138.06, for a total transaction of $465,538.32. Following the transaction, the chief marketing officer now owns 136,623 shares in the company, valued at $18,862,171.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 318,757 shares of company stock valued at $43,735,918. Corporate insiders own 1.38% of the company’s stock.
Several analysts have recently commented on the stock. Canaccord Genuity lifted their price target on shares of Microsoft from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Wells Fargo & Co set a $160.00 target price on shares of Microsoft and gave the company a “buy” rating in a report on Friday, July 19th. DZ Bank reiterated a “buy” rating on shares of Microsoft in a report on Friday, July 19th. Jefferies Financial Group set a $93.00 target price on shares of Microsoft and gave the company a “sell” rating in a report on Friday, July 19th. Finally, BMO Capital Markets lifted their target price on shares of Microsoft from $147.00 to $153.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $149.21.
Microsoft Company Profile
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.
Recommended Story: How the Consumer Price Index (CPI) is calculated?
Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.