Tuttle Tactical Management lowered its position in Microsoft Co. (NASDAQ:MSFT) by 66.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,702 shares of the software giant’s stock after selling 41,282 shares during the period. Tuttle Tactical Management’s holdings in Microsoft were worth $2,854,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of MSFT. New England Private Wealth Advisors LLC raised its position in shares of Microsoft by 0.7% during the 2nd quarter. New England Private Wealth Advisors LLC now owns 10,520 shares of the software giant’s stock valued at $1,408,000 after acquiring an additional 72 shares during the last quarter. Orgel Wealth Management LLC raised its position in shares of Microsoft by 1.2% during the 2nd quarter. Orgel Wealth Management LLC now owns 6,492 shares of the software giant’s stock valued at $870,000 after acquiring an additional 74 shares during the last quarter. Planning Directions Inc. raised its position in shares of Microsoft by 3.2% during the 2nd quarter. Planning Directions Inc. now owns 2,418 shares of the software giant’s stock valued at $324,000 after acquiring an additional 74 shares during the last quarter. Addison Capital Co raised its position in shares of Microsoft by 0.6% during the 3rd quarter. Addison Capital Co now owns 13,332 shares of the software giant’s stock valued at $1,854,000 after acquiring an additional 74 shares during the last quarter. Finally, Weybosset Research & Management LLC raised its position in shares of Microsoft by 2.1% during the 2nd quarter. Weybosset Research & Management LLC now owns 3,625 shares of the software giant’s stock valued at $486,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 72.17% of the company’s stock.
NASDAQ MSFT traded up $2.91 on Thursday, reaching $140.15. The company had a trading volume of 26,384,656 shares, compared to its average volume of 22,549,200. The firm has a market capitalization of $1,074.54 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.50 and a current ratio of 2.53. Microsoft Co. has a 1-year low of $93.96 and a 1-year high of $142.37. The company’s fifty day moving average is $138.09 and its 200-day moving average is $133.27.
Microsoft announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 18th that allows the company to buyback $40.00 billion in outstanding shares. This buyback authorization allows the software giant to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business 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 $0.51 dividend. The ex-dividend date is Wednesday, November 20th. This is a positive change from Microsoft’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.46%. Microsoft’s dividend payout ratio is presently 38.74%.
In related news, insider Frank H. Brod sold 4,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $141.05, for a total value of $564,200.00. Following the completion of the transaction, the insider now directly owns 64,152 shares of the company’s stock, valued at approximately $9,048,639.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kathleen T. Hogan sold 40,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 198,042 shares in the company, valued at $26,785,180.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 318,757 shares of company stock valued at $43,735,918. Company insiders own 1.39% of the company’s stock.
Several brokerages have commented on MSFT. KeyCorp reiterated a “buy” rating and set a $155.00 target price on shares of Microsoft in a research report on Thursday, August 29th. ValuEngine cut shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Macquarie upped their target price on shares of Microsoft from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Raymond James upped their target price on shares of Microsoft from $160.00 to $163.00 and gave the company a “strong-buy” rating in a research report on Friday, July 19th. Finally, BidaskClub cut shares of Microsoft from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 19th. Three analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $155.59.
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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