CIBC Private Wealth Group LLC Cuts Holdings in Microsoft Co. (NASDAQ:MSFT)

CIBC Private Wealth Group LLC lowered its position in shares of Microsoft Co. (NASDAQ:MSFT) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,648,067 shares of the software giant’s stock after selling 18,069 shares during the quarter. Microsoft comprises 3.7% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its biggest holding. CIBC Private Wealth Group LLC owned about 0.10% of Microsoft worth $1,063,311,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MSFT. Nuveen Asset Management LLC boosted its position in Microsoft by 2,651.8% during the second quarter. Nuveen Asset Management LLC now owns 67,353,275 shares of the software giant’s stock valued at $9,022,645,000 after acquiring an additional 64,905,685 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position in Microsoft by 13,479.6% during the second quarter. Thoroughbred Financial Services LLC now owns 8,726,283 shares of the software giant’s stock valued at $872,628,000 after acquiring an additional 8,662,023 shares during the last quarter. Vanguard Group Inc. boosted its position in Microsoft by 1.3% during the second quarter. Vanguard Group Inc. now owns 613,005,516 shares of the software giant’s stock valued at $82,118,218,000 after acquiring an additional 7,724,483 shares during the last quarter. Edgewood Management LLC bought a new stake in Microsoft during the second quarter valued at $620,230,000. Finally, Parnassus Investments CA boosted its position in Microsoft by 87.9% during the second quarter. Parnassus Investments CA now owns 8,818,322 shares of the software giant’s stock valued at $1,181,303,000 after acquiring an additional 4,126,121 shares during the last quarter. 72.19% of the stock is currently owned by institutional investors and hedge funds.

MSFT opened at $137.41 on Friday. 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 Co. has a fifty-two week low of $93.96 and a fifty-two week high of $142.37. The firm has a market capitalization of $1,074.96 billion, a PE ratio of 28.93, a P/E/G ratio of 2.26 and a beta of 1.22. The company’s 50-day moving average is $138.14 and its 200 day moving average is $132.82.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Thursday, July 18th. The software giant reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.16. Microsoft had a net margin of 31.18% and a return on equity of 39.26%. The company had revenue of $33.72 billion for the quarter, compared to analyst estimates of $32.80 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, analysts expect that Microsoft Co. will post 5.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.48%. 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 is currently 38.74%.

Microsoft announced that its board has approved a stock buyback plan on Wednesday, September 18th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the software giant to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

A number of analysts have commented on MSFT shares. Cowen initiated coverage on shares of Microsoft in a research report on Thursday, July 11th. They set an “outperform” rating and a $150.00 price target on the stock. Nomura set a $161.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Mizuho set a $152.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a research report on Friday, September 6th. Wells Fargo & Co set a $160.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine cut shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Microsoft presently has an average rating of “Buy” and an average price target of $152.97.

In related news, CFO Amy Hood sold 123,769 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $137.26, for a total value of $16,988,532.94. Following the sale, the chief financial officer now owns 433,940 shares in the company, valued at approximately $59,562,604.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathleen T. Hogan sold 40,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $135.25, for a total transaction of $5,410,000.00. Following the completion of the sale, the executive vice president now owns 198,042 shares in the company, valued at approximately $26,785,180.50. The disclosure for this sale can be found here. Insiders sold a total of 318,757 shares of company stock worth $43,735,918 in the last 90 days. 1.38% of the stock is currently owned by company insiders.

Microsoft 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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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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