Spirit of America Management Corp NY reduced its holdings in Microsoft Co. (NASDAQ:MSFT) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,409 shares of the software giant’s stock after selling 950 shares during the quarter. Spirit of America Management Corp NY’s holdings in Microsoft were worth $4,475,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. WoodTrust Financial Corp increased its position in Microsoft by 1.3% in the 2nd quarter. WoodTrust Financial Corp now owns 62,008 shares of the software giant’s stock valued at $8,307,000 after acquiring an additional 822 shares during the period. Raymond James Trust N.A. increased its position in Microsoft by 0.8% in the 2nd quarter. Raymond James Trust N.A. now owns 378,636 shares of the software giant’s stock valued at $50,722,000 after acquiring an additional 3,065 shares during the period. Legacy Advisors LLC increased its position in Microsoft by 5.4% in the 2nd quarter. Legacy Advisors LLC now owns 14,915 shares of the software giant’s stock valued at $1,998,000 after acquiring an additional 762 shares during the period. Centre Asset Management LLC increased its position in Microsoft by 9.3% in the 2nd quarter. Centre Asset Management LLC now owns 263,016 shares of the software giant’s stock valued at $35,234,000 after acquiring an additional 22,429 shares during the period. Finally, Cohen Klingenstein LLC increased its position in Microsoft by 151.9% in the 2nd quarter. Cohen Klingenstein LLC now owns 120,682 shares of the software giant’s stock valued at $16,167,000 after acquiring an additional 72,775 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.
In other Microsoft news, EVP Kathleen T. Hogan sold 15,947 shares of Microsoft stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $133.17, for a total transaction of $2,123,661.99. Following the sale, the executive vice president now directly owns 202,518 shares of the company’s stock, valued at $26,969,322.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank H. Brod sold 4,000 shares of Microsoft stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $141.05, for a total transaction of $564,200.00. Following the completion of the transaction, the insider now owns 64,152 shares of the company’s stock, valued at approximately $9,048,639.60. The disclosure for this sale can be found here. Insiders have sold 24,947 shares of company stock worth $3,317,962 over the last ninety days. Company insiders own 1.38% of the company’s stock.
MSFT stock traded down $1.16 during trading on Friday, reaching $136.90. 30,781,971 shares of the stock were exchanged, compared to its average volume of 21,651,300. Microsoft Co. has a twelve month low of $93.96 and a twelve month high of $141.68. The firm has a market capitalization of $1,044.21 billion, a P/E ratio of 28.82, a P/E/G ratio of 2.38 and a beta of 1.23. The business’s 50 day simple moving average is $136.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 2.50.
Microsoft (NASDAQ:MSFT) last released its earnings results on Thursday, July 18th. The software giant reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. The business had revenue of $33.72 billion for the quarter, compared to the consensus estimate of $32.80 billion. Microsoft had a return on equity of 39.26% and a net margin of 31.18%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $1.13 earnings per share. Equities research analysts expect that Microsoft Co. will post 5.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Wednesday, August 14th. Microsoft’s payout ratio is 38.74%.
Several analysts recently commented on MSFT shares. Cowen assumed coverage on Microsoft in a research report on Thursday, July 11th. They issued an “outperform” rating and a $150.00 target price on the stock. Canaccord Genuity increased their price target on Microsoft from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $155.00 price target on shares of Microsoft in a research note on Friday, July 19th. Morgan Stanley raised their price objective on Microsoft from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Barclays raised their price objective on Microsoft from $132.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $149.21.
Microsoft Company Profile
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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