Oliver Luxxe Assets LLC lifted its holdings in Microsoft Co. (NASDAQ:MSFT) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,328 shares of the software giant’s stock after buying an additional 361 shares during the period. Oliver Luxxe Assets LLC’s holdings in Microsoft were worth $1,135,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of MSFT. Vanguard Group Inc. grew its holdings in Microsoft by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 613,005,516 shares of the software giant’s stock valued at $82,118,218,000 after purchasing an additional 7,724,483 shares during the last quarter. Northern Trust Corp grew its holdings in Microsoft by 0.4% during the 2nd quarter. Northern Trust Corp now owns 96,567,563 shares of the software giant’s stock valued at $12,936,190,000 after purchasing an additional 385,074 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Microsoft by 2,651.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 67,353,275 shares of the software giant’s stock valued at $9,022,645,000 after purchasing an additional 64,905,685 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Microsoft by 0.7% during the 2nd quarter. Janus Henderson Group PLC now owns 52,986,086 shares of the software giant’s stock valued at $7,097,675,000 after purchasing an additional 342,648 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Microsoft by 2.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,368,268 shares of the software giant’s stock valued at $4,603,974,000 after purchasing an additional 782,124 shares during the last quarter. Hedge funds and other institutional investors own 72.19% of the company’s stock.
In other news, CFO Amy Hood sold 123,769 shares of the company’s stock in a transaction that occurred 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 owns 433,940 shares of the company’s stock, valued at approximately $59,562,604.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Christopher C. Capossela sold 3,372 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $138.06, for a total transaction of $465,538.32. Following the completion of the sale, the chief marketing officer now directly owns 136,623 shares of the company’s stock, valued at approximately $18,862,171.38. The disclosure for this sale can be found here. Insiders sold a total of 318,757 shares of company stock valued at $43,735,918 in the last ninety days. Corporate insiders own 1.38% of the company’s stock.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Thursday, July 18th. The software giant reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.16. Microsoft had a net margin of 31.18% and a return on equity of 39.26%. The firm had revenue of $33.72 billion during the quarter, compared to analysts’ expectations of $32.80 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts predict that Microsoft Co. will post 5.24 earnings per share for the current fiscal year.
Microsoft announced that its board has approved a share buyback plan 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 plans are usually a sign that the company’s leadership believes its stock is undervalued.
The firm 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 $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Wednesday, November 20th. This is a boost from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s dividend payout ratio is presently 38.74%.
A number of equities analysts have commented on the stock. CIBC upped 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. DZ Bank restated a “buy” rating on shares of Microsoft in a research note on Friday, July 19th. ValuEngine downgraded shares of Microsoft from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley set a $155.00 target price on shares of Microsoft and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Nomura set a $161.00 target price on shares of Microsoft and gave the stock a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $152.97.
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.
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