Steward Partners Investment Advisory LLC purchased a new position in shares of Microsoft Co. (NASDAQ:MSFT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 177,951 shares of the software giant’s stock, valued at approximately $13,255,000. Microsoft comprises about 1.3% of Steward Partners Investment Advisory LLC’s portfolio, making the stock its 10th largest position.
Other hedge funds have also modified their holdings of the company. Beach Investment Management LLC. lifted its holdings in shares of Microsoft by 947.3% during the second quarter. Beach Investment Management LLC. now owns 279,537 shares of the software giant’s stock worth $19,268,000 after purchasing an additional 252,847 shares during the period. Advisor Partners LLC lifted its holdings in shares of Microsoft by 10.9% during the second quarter. Advisor Partners LLC now owns 156,520 shares of the software giant’s stock worth $10,789,000 after purchasing an additional 15,375 shares during the period. Armbruster Capital Management Inc. lifted its holdings in shares of Microsoft by 8.1% during the second quarter. Armbruster Capital Management Inc. now owns 6,981 shares of the software giant’s stock worth $481,000 after purchasing an additional 526 shares during the period. Financial Advisory Service Inc. lifted its holdings in shares of Microsoft by 6.2% during the second quarter. Financial Advisory Service Inc. now owns 17,978 shares of the software giant’s stock worth $1,239,000 after purchasing an additional 1,054 shares during the period. Finally, MV Capital Management Inc. lifted its holdings in shares of Microsoft by 2.5% during the second quarter. MV Capital Management Inc. now owns 4,924 shares of the software giant’s stock worth $339,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 73.88% of the company’s stock.
Shares of Microsoft Co. (NASDAQ:MSFT) opened at $94.60 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.85 and a current ratio of 2.89. Microsoft Co. has a 12-month low of $64.12 and a 12-month high of $97.24. The company has a market capitalization of $725,166.50, a P/E ratio of 26.83, a P/E/G ratio of 2.17 and a beta of 1.04.
Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Wednesday, January 31st. The software giant reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.09. Microsoft had a return on equity of 35.41% and a net margin of 11.72%. The firm had revenue of $28.92 billion during the quarter, compared to analysts’ expectations of $28.42 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. analysts predict that Microsoft Co. will post 3.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 17th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Wednesday, May 16th. Microsoft’s payout ratio is 115.07%.
A number of equities research analysts recently commented on MSFT shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $100.00 target price on shares of Microsoft in a report on Monday, November 27th. Vetr raised Microsoft from a “buy” rating to a “strong-buy” rating and set a $94.25 price target for the company in a report on Monday, December 4th. Sanford C. Bernstein set a $100.00 price target on Microsoft and gave the company a “buy” rating in a report on Thursday, December 7th. UBS set a $105.00 price target on Microsoft and gave the company a “buy” rating in a report on Friday, December 8th. Finally, Evercore ISI boosted their price target on Microsoft from $93.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, December 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-one have assigned a buy rating to the company. Microsoft currently has an average rating of “Buy” and a consensus price target of $99.41.
In related news, EVP Christopher C. Capossela sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $93.00, for a total transaction of $325,500.00. Following the completion of the sale, the executive vice president now directly owns 174,778 shares in the company, valued at $16,254,354. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Christopher C. Capossela sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $93.30, for a total value of $279,900.00. Following the sale, the chief marketing officer now owns 178,278 shares of the company’s stock, valued at $16,633,337.40. The disclosure for this sale can be found here. Insiders have sold 10,000 shares of company stock valued at $930,900 over the last quarter. 1.49% of the stock is owned by company insiders.
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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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