Cidel Asset Management Inc. cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,073 shares of the software giant’s stock after selling 6,085 shares during the quarter. Microsoft comprises approximately 1.1% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Cidel Asset Management Inc.’s holdings in Microsoft were worth $23,768,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in MSFT. Appropriate Balance Financial Services Inc. lifted 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 during the period. Acrospire Investment Management LLC lifted its position in Microsoft by 300.0% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the software giant’s stock valued at $110,000 after purchasing an additional 1,200 shares during the period. Stelac Advisory Services LLC lifted its position in Microsoft by 23.5% during the second quarter. Stelac Advisory Services LLC now owns 2,033 shares of the software giant’s stock valued at $140,000 after purchasing an additional 387 shares during the period. Pacific Center for Financial Services lifted its position in Microsoft by 3.0% during the second quarter. Pacific Center for Financial Services now owns 2,572 shares of the software giant’s stock valued at $177,000 after purchasing an additional 75 shares during the period. Finally, AlphaMark Advisors LLC lifted its position in Microsoft by 1.1% during the second quarter. AlphaMark Advisors LLC now owns 2,677 shares of the software giant’s stock valued at $185,000 after purchasing an additional 30 shares during the period. 73.19% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Frank H. Brod sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $84.08, for a total value of $1,261,200.00. Following the completion of the sale, the insider now owns 116,205 shares of the company’s stock, valued at approximately $9,770,516.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christopher C. Capossela sold 4,000 shares of the 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 completion of the sale, the executive vice president now directly owns 189,278 shares of the company’s stock, valued at approximately $15,797,141.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,000 shares of company stock valued at $3,759,420. 1.49% of the stock is owned by corporate insiders.
Shares of Microsoft Co. (MSFT) opened at $90.00 on Friday. Microsoft Co. has a one year low of $62.37 and a one year high of $90.79. The stock has a market cap of $694,310.00, a PE ratio of 30.41, a P/E/G ratio of 2.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.06 and a current ratio of 3.12.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data 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. Microsoft had a net margin of 24.56% and a return on equity of 35.23%. The company 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 earned $0.76 EPS. Microsoft’s revenue was up 11.7% compared to the same quarter last year. equities analysts expect that Microsoft Co. will post 3.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.68 annualized dividend and a yield of 1.87%. Microsoft’s dividend payout ratio is presently 56.76%.
A number of brokerages have weighed in on MSFT. Argus upgraded shares of Microsoft from a “hold” rating to a “buy” rating and upped their price objective for the stock from $57.28 to $95.00 in a research report on Tuesday, October 31st. Vetr downgraded shares of Microsoft from a “buy” rating to a “hold” rating and set a $93.54 price objective for the company. in a research report on Wednesday. Goldman Sachs Group set a $92.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a research report on Friday, October 27th. UBS Group set a $105.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $100.00 price objective (up previously from $90.00) on shares of Microsoft in a research report on Friday, January 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirty have given a buy rating to the company. Microsoft presently has an average rating of “Buy” and a consensus price target of $88.32.
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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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