Glassman Wealth Services reduced its position in Microsoft Co. (NASDAQ:MSFT) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,452 shares of the software giant’s stock after selling 2,597 shares during the period. Microsoft comprises about 2.1% of Glassman Wealth Services’ portfolio, making the stock its 10th biggest holding. Glassman Wealth Services’ holdings in Microsoft were worth $5,207,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen Asset Management LLC raised its position in Microsoft by 2,651.8% during the second quarter. Nuveen Asset Management LLC now owns 67,353,275 shares of the software giant’s stock worth $9,022,645,000 after acquiring an additional 64,905,685 shares during the period. Thoroughbred Financial Services LLC raised its position in Microsoft by 13,479.6% during the second quarter. Thoroughbred Financial Services LLC now owns 8,726,283 shares of the software giant’s stock worth $872,628,000 after acquiring an additional 8,662,023 shares during the period. Vanguard Group Inc. raised its position in Microsoft by 1.3% during the second quarter. Vanguard Group Inc. now owns 613,005,516 shares of the software giant’s stock worth $82,118,218,000 after acquiring an additional 7,724,483 shares during the period. Edgewood Management LLC acquired a new position in Microsoft during the second quarter worth $620,230,000. Finally, Parnassus Investments CA raised its position in Microsoft by 87.9% during the second quarter. Parnassus Investments CA now owns 8,818,322 shares of the software giant’s stock worth $1,181,303,000 after acquiring an additional 4,126,121 shares during the period. Hedge funds and other institutional investors own 72.22% of the company’s stock.
Shares of MSFT opened at $149.97 on Friday. The company has a current ratio of 2.85, a quick ratio of 2.81 and a debt-to-equity ratio of 0.69. Microsoft Co. has a 12-month low of $93.96 and a 12-month high of $149.99. The firm has a 50-day moving average price of $140.86 and a 200 day moving average price of $135.67. The firm has a market capitalization of $1,123.80 billion, a P/E ratio of 31.57, a P/E/G ratio of 2.31 and a beta of 1.23.
Microsoft announced that its Board of Directors has initiated a share buyback plan 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 plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s dividend payout ratio is currently 38.74%.
In related news, CEO Satya Nadella sold 99,837 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $137.20, for a total value of $13,697,636.40. Following the completion of the sale, the chief executive officer now owns 1,124,339 shares of the company’s stock, valued at $154,259,310.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Christopher C. Capossela sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $142.89, for a total transaction of $357,225.00. Following the completion of the sale, the chief marketing officer now directly owns 133,944 shares of the company’s stock, valued at approximately $19,139,258.16. The disclosure for this sale can be found here. Insiders sold 332,804 shares of company stock valued at $45,823,569 in the last three months. 1.39% of the stock is currently owned by insiders.
A number of equities analysts have weighed in on the stock. Barclays set a $168.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a research report on Friday, November 1st. Macquarie upped their price objective on shares of Microsoft from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Goldman Sachs Group restated a “buy” rating and set a $151.00 price objective on shares of Microsoft in a research report on Wednesday, October 23rd. CIBC upped their price objective on shares of Microsoft from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, UBS Group set a $162.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a research report on Friday, July 19th. One analyst has rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $159.45.
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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