Private Asset Management Inc. lessened its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,828 shares of the software giant’s stock after selling 3,725 shares during the period. Microsoft comprises 2.6% of Private Asset Management Inc.’s holdings, making the stock its 11th largest holding. Private Asset Management Inc.’s holdings in Microsoft were worth $14,981,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Dimension Capital Management LLC boosted its position in shares of Microsoft by 7.5% in the fourth quarter. Dimension Capital Management LLC now owns 8,712 shares of the software giant’s stock worth $885,000 after buying an additional 609 shares during the period. Mn Services Vermogensbeheer B.V. boosted its holdings in Microsoft by 74.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 2,035,128 shares of the software giant’s stock valued at $180,823,000 after purchasing an additional 867,711 shares during the last quarter. Noked Capital LTD purchased a new position in Microsoft in the fourth quarter valued at about $1,645,000. Elephas Investment Management Ltd purchased a new position in Microsoft in the fourth quarter valued at about $6,094,000. Finally, TT International boosted its holdings in Microsoft by 9.3% in the fourth quarter. TT International now owns 115,602 shares of the software giant’s stock valued at $11,741,000 after purchasing an additional 9,793 shares during the last quarter. Hedge funds and other institutional investors own 72.16% of the company’s stock.
Shares of MSFT stock traded up $2.05 during mid-day trading on Wednesday, hitting $137.72. 2,558,736 shares of the stock traded hands, compared to its average volume of 24,929,936. Microsoft Co. has a twelve month low of $93.96 and a twelve month high of $142.37. The firm has a market cap of $1,035.90 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.22. The company’s 50-day simple moving average is $137.40 and its 200-day simple moving average is $131.72. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.50 and a current ratio of 2.53.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s dividend payout ratio (DPR) is 38.74%.
Microsoft declared that its board has approved a share repurchase program on Wednesday, September 18th that allows the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization allows the software giant to purchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
A number of brokerages recently commented on MSFT. JPMorgan Chase & Co. reissued a “buy” rating and issued a $155.00 price target on shares of Microsoft in a report on Friday, July 19th. DZ Bank reissued a “buy” rating on shares of Microsoft in a report on Friday, July 19th. Canaccord Genuity increased their price target on Microsoft from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, July 19th. Morgan Stanley set a $155.00 price target on Microsoft and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group raised Microsoft from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Monday. Three investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $151.52.
In other Microsoft news, CMO Christopher C. Capossela sold 3,372 shares of the firm’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 directly owns 136,623 shares in the company, valued at $18,862,171.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Frank H. Brod sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $141.05, for a total value of $564,200.00. Following the transaction, the insider now owns 64,152 shares in the company, valued at $9,048,639.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,757 shares of company stock valued at $43,735,918. 1.38% of the stock is currently owned by insiders.
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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