Nachman Norwood & Parrott Inc lowered its holdings in Microsoft Co. (NASDAQ:MSFT) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,007 shares of the software giant’s stock after selling 531 shares during the period. Microsoft comprises 1.3% of Nachman Norwood & Parrott Inc’s holdings, making the stock its 10th largest position. Nachman Norwood & Parrott Inc’s holdings in Microsoft were worth $7,230,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of MSFT. LFA Lugano Financial Advisors SA lifted its holdings in Microsoft by 274.5% in the 2nd quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock worth $26,000 after buying an additional 140 shares during the period. Krane Funds Advisors LLC purchased a new stake in Microsoft in the 2nd quarter worth approximately $26,000. Centaurus Financial Inc. lifted its holdings in Microsoft by 21.1% in the 1st quarter. Centaurus Financial Inc. now owns 3,222 shares of the software giant’s stock worth $27,000 after buying an additional 561 shares during the period. AlphaOne Investment Services LLC purchased a new stake in Microsoft in the 2nd quarter worth approximately $51,000. Finally, Gavea Investimentos Ltda purchased a new stake in Microsoft in the 2nd quarter worth approximately $70,000. 72.16% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on MSFT shares. BMO Capital Markets increased their price objective on Microsoft from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Oppenheimer increased their price objective on Microsoft from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Macquarie increased their price objective on Microsoft from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Morgan Stanley set a $155.00 price objective on Microsoft and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Mizuho set a $152.00 price objective on Microsoft and gave the stock a “buy” rating in a report on Friday, September 6th. Three research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $151.52.
In related news, EVP Jean Philippe Courtois sold 11,779 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.00, for a total transaction of $1,649,060.00. Following the completion of the transaction, the executive vice president now owns 597,727 shares of the company’s stock, valued at approximately $83,681,780. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frank H. Brod sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $141.05, for a total value of $564,200.00. Following the transaction, the insider now directly 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. In the last ninety days, insiders have sold 318,757 shares of company stock valued at $43,735,918. 1.38% of the stock is owned by corporate insiders.
MSFT stock opened at $139.68 on Friday. Microsoft Co. has a twelve month low of $93.96 and a twelve month high of $142.37. The company has a quick ratio of 2.50, a current ratio of 2.53 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1,066.51 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 2.22 and a beta of 1.22. The business has a 50 day moving average of $137.45 and a 200 day moving average of $132.03.
Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Thursday, July 18th. The software giant reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.16. Microsoft had a return on equity of 39.26% and a net margin of 31.18%. The company had revenue of $33.72 billion during the quarter, compared to analyst estimates of $32.80 billion. During the same quarter last year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts expect that Microsoft Co. will post 5.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s dividend payout ratio (DPR) is 38.74%.
Microsoft announced that its board has approved a share buyback program on Wednesday, September 18th that allows the company to repurchase $40.00 billion in shares. This repurchase authorization allows the software giant to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
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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