Cornerstone Advisors Inc. increased its holdings in Microsoft Co. (NASDAQ:MSFT) by 84.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,131 shares of the software giant’s stock after purchasing an additional 23,367 shares during the quarter. Microsoft accounts for 2.6% of Cornerstone Advisors Inc.’s holdings, making the stock its 5th biggest position. Cornerstone Advisors Inc.’s holdings in Microsoft were worth $3,809,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. New Capital Management LP grew its position in Microsoft by 0.5% during the first quarter. New Capital Management LP now owns 4,305 shares of the software giant’s stock valued at $284,000 after purchasing an additional 22 shares in the last quarter. Nottingham Advisors Inc. grew its position in Microsoft by 0.4% during the second quarter. Nottingham Advisors Inc. now owns 5,399 shares of the software giant’s stock valued at $372,000 after purchasing an additional 22 shares in the last quarter. American Economic Planning Group Inc. ADV grew its position in Microsoft by 0.5% during the second quarter. American Economic Planning Group Inc. ADV now owns 4,939 shares of the software giant’s stock valued at $340,000 after purchasing an additional 23 shares in the last quarter. Carderock Capital Management Inc. grew its position in Microsoft by 0.7% during the second quarter. Carderock Capital Management Inc. now owns 3,981 shares of the software giant’s stock valued at $274,000 after purchasing an additional 26 shares in the last quarter. Finally, Appropriate Balance Financial Services Inc. grew its position in Microsoft by 4.7% during the second quarter. Appropriate Balance Financial Services Inc. now owns 643 shares of the software giant’s stock valued at $9,331,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 73.16% of the company’s stock.
Shares of Microsoft Co. (MSFT) traded down $0.06 during trading on Thursday, hitting $87.76. 6,000,000 shares of the company were exchanged, compared to its average volume of 23,420,000. Microsoft Co. has a 1-year low of $61.95 and a 1-year high of $88.73. The company has a quick ratio of 3.06, a current ratio of 3.12 and a debt-to-equity ratio of 0.91. The firm has a market cap of $677,070.00, a PE ratio of 29.65, a P/E/G ratio of 2.06 and a beta of 0.99.
Microsoft (NASDAQ:MSFT) last issued its earnings results on Thursday, October 26th. The software giant reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. The company had revenue of $24.50 billion for the quarter, compared to analyst estimates of $23.57 billion. Microsoft had a net margin of 24.56% and a return on equity of 35.23%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. equities analysts predict that Microsoft Co. will post 3.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be given a $0.42 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.91%. Microsoft’s dividend payout ratio is 56.76%.
In other Microsoft news, EVP Christopher C. Capossela sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $83.46, for a total transaction of $333,840.00. Following the sale, the executive vice president now directly owns 189,278 shares in the company, valued at approximately $15,797,141.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frank H. Brod sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $83.15, for a total transaction of $1,496,700.00. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock worth $3,759,420 over the last quarter. 1.49% of the stock is currently owned by corporate insiders.
Several analysts have commented on the stock. Zacks Investment Research downgraded shares of Microsoft from a “buy” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group reiterated a “buy” rating and set a $95.00 target price on shares of Microsoft in a research note on Friday, October 27th. Morgan Stanley set a $88.00 target price on shares of Microsoft and gave the company a “buy” rating in a research note on Friday, October 27th. Tigress Financial reiterated a “buy” rating on shares of Microsoft in a research note on Tuesday, November 7th. Finally, Vetr upgraded shares of Microsoft from a “sell” rating to a “hold” rating and set a $82.07 target price for the company in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirty-one have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $86.30.
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Microsoft Company Profile
Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.
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