Voleon Capital Management LP cut its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 71.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 157,000 shares of the software giant’s stock after selling 393,000 shares during the period. Microsoft makes up about 1.2% of Voleon Capital Management LP’s portfolio, making the stock its 23rd largest holding. Voleon Capital Management LP’s holdings in Microsoft were worth $21,032,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of MSFT. LFA Lugano Financial Advisors SA lifted its stake in Microsoft by 274.5% in the 2nd quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock worth $26,000 after purchasing an additional 140 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in Microsoft in the 2nd quarter worth approximately $26,000. Centaurus Financial Inc. lifted its stake in Microsoft by 21.1% in the 1st quarter. Centaurus Financial Inc. now owns 3,222 shares of the software giant’s stock worth $27,000 after purchasing an additional 561 shares in the last quarter. AlphaOne Investment Services LLC purchased a new position in Microsoft in the 2nd quarter worth approximately $51,000. Finally, Gavea Investimentos Ltda purchased a new position in Microsoft in the 2nd quarter worth approximately $70,000. Hedge funds and other institutional investors own 72.16% of the company’s stock.
In other news, CEO Satya Nadella sold 99,837 shares of Microsoft stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $137.20, for a total transaction of $13,697,636.40. Following the sale, the chief executive officer now owns 1,124,339 shares of the company’s stock, valued at approximately $154,259,310.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frank H. Brod sold 4,000 shares of Microsoft stock in a transaction that occurred 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 sale, the insider now directly owns 64,152 shares in the company, valued at approximately $9,048,639.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 318,757 shares of company stock worth $43,735,918. Corporate insiders own 1.38% of the company’s stock.
Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Thursday, July 18th. The software giant reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.16. The firm had revenue of $33.72 billion for the quarter, compared to analyst estimates of $32.80 billion. Microsoft had a net margin of 31.18% and a return on equity of 39.26%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. As a group, equities research analysts expect that Microsoft Co. will post 5.23 earnings per share for the current year.
Microsoft announced that its board has authorized a stock buyback plan on Wednesday, September 18th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the software giant to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently declared 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 represents a $2.04 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, November 20th. This is a positive change from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s payout ratio is presently 38.74%.
MSFT has been the topic of a number of research reports. Argus raised their target price on shares of Microsoft to $158.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Oppenheimer raised their target price 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. Cowen initiated coverage on shares of Microsoft in a research note on Thursday, July 11th. They issued an “outperform” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. reissued a “buy” rating and issued a $155.00 target price on shares of Microsoft in a research note on Friday, July 19th. Finally, Mizuho set a $152.00 target price on shares of Microsoft and gave the stock a “buy” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average 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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