New Jersey Better Educational Savings Trust lowered its stake in Microsoft Co. (NASDAQ:MSFT) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the software giant’s stock after selling 2,000 shares during the period. Microsoft accounts for 3.1% of New Jersey Better Educational Savings Trust’s holdings, making the stock its largest holding. New Jersey Better Educational Savings Trust’s holdings in Microsoft were worth $3,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of MSFT. Acrospire Investment Management LLC lifted its holdings in shares of Microsoft by 300.0% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the software giant’s stock worth $110,000 after purchasing an additional 1,200 shares during the period. Hefty Wealth Partners lifted its holdings in Microsoft by 65.6% in the second quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock valued at $113,000 after buying an additional 653 shares during the period. Stelac Advisory Services LLC lifted its holdings in Microsoft by 23.5% in the second quarter. Stelac Advisory Services LLC now owns 2,033 shares of the software giant’s stock valued at $140,000 after buying an additional 387 shares during the period. Pacific Center for Financial Services lifted its holdings in Microsoft by 3.0% in the second quarter. Pacific Center for Financial Services now owns 2,572 shares of the software giant’s stock valued at $177,000 after buying an additional 75 shares during the period. Finally, AlphaMark Advisors LLC lifted its holdings in Microsoft by 1.1% in the second quarter. AlphaMark Advisors LLC now owns 2,677 shares of the software giant’s stock valued at $185,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 73.16% of the company’s stock.
Shares of Microsoft Co. (MSFT) traded up $1.52 on Friday, reaching $89.60. 24,260,921 shares of the company’s stock traded hands, compared to its average volume of 23,290,000. The stock has a market cap of $691,230.00, a PE ratio of 30.27, a P/E/G ratio of 2.05 and a beta of 0.99. The company has a quick ratio of 3.06, a current ratio of 3.12 and a debt-to-equity ratio of 0.91. Microsoft Co. has a fifty-two week low of $62.03 and a fifty-two week high of $89.78.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Thursday, October 26th. The software giant reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Microsoft had a net margin of 24.56% and a return on equity of 35.23%. The business had revenue of $24.50 billion during the quarter, compared to analysts’ expectations of $23.57 billion. During the same quarter in the prior year, the company posted $0.76 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. analysts predict that Microsoft Co. will post 3.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.88%. Microsoft’s dividend payout ratio is 56.76%.
Several research firms recently issued reports on MSFT. Oppenheimer boosted their target price on shares of Microsoft to $115.00 and gave the company an “outperform” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Microsoft from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays set a $95.00 price target on shares of Microsoft and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Co reissued an “outperform” rating and set a $100.00 target price (up from $90.00) on shares of Microsoft in a research report on Friday. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Microsoft in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirty-one have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $86.97.
In related news, insider Frank H. Brod sold 18,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $83.15, for a total value of $1,496,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frank H. Brod sold 15,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $84.08, for a total transaction of $1,261,200.00. Following the completion of the transaction, the insider now owns 116,205 shares of the company’s stock, valued at $9,770,516.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,000 shares of company stock valued at $3,759,420. Corporate insiders own 1.49% of the company’s stock.
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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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