Resources Management Corp CT ADV bought a new position in shares of Microsoft Co. (NASDAQ:MSFT) during the third quarter, HoldingsChannel reports. The firm bought 146,351 shares of the software giant’s stock, valued at approximately $20,347,000. Microsoft makes up about 3.8% of Resources Management Corp CT ADV’s holdings, making the stock its biggest holding.
Several other institutional investors and hedge funds have also recently modified their holdings of MSFT. Nuveen Asset Management LLC grew its position in shares of Microsoft by 2,651.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 67,353,275 shares of the software giant’s stock valued at $9,022,645,000 after buying an additional 64,905,685 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 7,724,483 shares during the last quarter. Edgewood Management LLC bought a new position in shares of Microsoft during the second quarter valued at approximately $620,230,000. Parnassus Investments CA raised its position in shares of Microsoft by 87.9% during the 2nd quarter. Parnassus Investments CA now owns 8,818,322 shares of the software giant’s stock worth $1,181,303,000 after purchasing an additional 4,126,121 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Microsoft by 27.6% during the 3rd quarter. California Public Employees Retirement System now owns 18,465,052 shares of the software giant’s stock worth $2,567,196,000 after purchasing an additional 3,989,278 shares during the period. Institutional investors own 71.83% of the company’s stock.
In related news, CMO Christopher C. Capossela sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $144.01, for a total transaction of $360,025.00. Following the completion of the transaction, the chief marketing officer now owns 118,944 shares of the company’s stock, valued at $17,129,125.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jean Philippe Courtois sold 11,779 shares of Microsoft stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.00, for a total value of $1,649,060.00. Following the transaction, the executive vice president now directly owns 597,727 shares in the company, valued at $83,681,780. The disclosure for this sale can be found here. Insiders have sold 105,198 shares of company stock worth $14,588,720 in the last quarter. Company insiders own 1.39% of the company’s stock.
MSFT traded up $0.54 on Wednesday, reaching $149.85. The company had a trading volume of 17,409,779 shares, compared to its average volume of 17,994,986. The company has a fifty day moving average of $145.35 and a 200-day moving average of $137.76. The company has a market capitalization of $1,143.18 billion, a P/E ratio of 31.55, a PEG ratio of 2.37 and a beta of 1.23. The company has a current ratio of 2.85, a quick ratio of 2.81 and a debt-to-equity ratio of 0.69. Microsoft Co. has a one year low of $93.96 and a one year high of $152.50.
Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Wednesday, October 23rd. The software giant reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.14. The company had revenue of $33.06 billion for the quarter, compared to the consensus estimate of $32.24 billion. Microsoft had a net margin of 31.66% and a return on equity of 39.14%. Microsoft’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. Research analysts predict that Microsoft Co. will post 5.35 EPS for the current year.
Microsoft announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 18th that allows the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization allows the software giant to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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 paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date 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 currently 42.95%.
A number of research firms recently issued reports on MSFT. Cleveland Research restated a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. Deutsche Bank restated a “buy” rating and set a $160.00 price objective on shares of Microsoft in a research note on Monday, October 28th. Jefferies Financial Group raised Microsoft from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Monday, October 7th. Mizuho reiterated a “buy” rating and issued a $160.00 target price on shares of Microsoft in a research note on Wednesday, November 20th. Finally, Barclays set a $168.00 price target on shares of Microsoft and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Microsoft presently has an average rating of “Buy” and an average target price of $159.45.
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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