Ocean Capital Management LLC Reduces Holdings in Microsoft Co. (NASDAQ:MSFT)

Ocean Capital Management LLC lessened its position in shares of Microsoft Co. (NASDAQ:MSFT) by 9.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,006 shares of the software giant’s stock after selling 940 shares during the period. Microsoft accounts for 1.0% of Ocean Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Ocean Capital Management LLC’s holdings in Microsoft were worth $1,252,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Navellier & Associates Inc increased its stake in Microsoft by 0.6% in the 2nd quarter. Navellier & Associates Inc now owns 15,304 shares of the software giant’s stock worth $2,050,000 after acquiring an additional 95 shares during the last quarter. Empirical Finance LLC increased its stake in Microsoft by 3.5% in the 2nd quarter. Empirical Finance LLC now owns 8,707 shares of the software giant’s stock worth $1,166,000 after acquiring an additional 295 shares during the last quarter. Legacy Financial Strategies LLC bought a new position in Microsoft in the 2nd quarter worth about $211,000. Axiom International Investors LLC DE increased its stake in Microsoft by 24.3% in the 2nd quarter. Axiom International Investors LLC DE now owns 1,042,490 shares of the software giant’s stock worth $139,652,000 after acquiring an additional 203,715 shares during the last quarter. Finally, Independence Bank of Kentucky increased its stake in Microsoft by 0.6% in the 2nd quarter. Independence Bank of Kentucky now owns 14,960 shares of the software giant’s stock worth $2,004,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

In other news, EVP Kathleen T. Hogan sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $135.25, for a total value of $5,410,000.00. Following the completion of the transaction, the executive vice president now owns 198,042 shares of the company’s stock, valued at approximately $26,785,180.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy Hood sold 123,769 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $137.26, for a total value of $16,988,532.94. Following the completion of the transaction, the chief financial officer now directly owns 433,940 shares of the company’s stock, valued at approximately $59,562,604.40. The disclosure for this sale can be found here. Insiders sold a total of 339,804 shares of company stock valued at $46,790,619 in the last three months. Corporate insiders own 1.39% of the company’s stock.

A number of equities analysts have weighed in on MSFT shares. ValuEngine lowered Microsoft from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. KeyCorp restated a “buy” rating and set a $155.00 target price on shares of Microsoft in a report on Thursday, August 29th. Evercore ISI set a $160.00 target price on Microsoft and gave the company a “buy” rating in a report on Friday, October 18th. Zacks Investment Research upgraded Microsoft from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a report on Friday, October 25th. Finally, Cleveland Research restated a “buy” rating on shares of Microsoft in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $159.45.

Shares of NASDAQ:MSFT traded down $0.36 during trading on Monday, hitting $145.60. The stock had a trading volume of 321,352 shares, compared to its average volume of 25,306,443. Microsoft Co. has a 12 month low of $93.96 and a 12 month high of $145.99. The company has a market capitalization of $1,102.06 billion, a PE ratio of 30.67, a PEG ratio of 2.27 and a beta of 1.23. The firm’s fifty day moving average is $139.85 and its 200 day moving average is $135.04. The company has a quick ratio of 2.81, a current ratio of 2.85 and a debt-to-equity ratio of 0.69.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, October 23rd. The software giant reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.14. Microsoft had a return on equity of 39.14% and a net margin of 31.66%. The firm had revenue of $33.06 billion during the quarter, compared to analyst estimates of $32.24 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The business’s revenue was up 13.7% compared to the same quarter last year. Equities research analysts expect that Microsoft Co. will post 5.35 EPS for the current fiscal year.

Microsoft declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 18th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the software giant to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

The company 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. The ex-dividend date is Wednesday, November 20th. This represents a $2.04 annualized dividend and a dividend yield of 1.40%. This is a positive change from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s dividend payout ratio is currently 38.74%.

About Microsoft

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.

Further Reading: Determine Your Level of Risk Tolerance

Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Co. (NASDAQ:MSFT).

Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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.