Chase Investment Counsel Corp cut its stake in Microsoft Co. (NASDAQ:MSFT) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,778 shares of the software giant’s stock after selling 3,654 shares during the period. Microsoft comprises approximately 6.1% of Chase Investment Counsel Corp’s holdings, making the stock its largest holding. Chase Investment Counsel Corp’s holdings in Microsoft were worth $12,152,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Newfound Research LLC acquired a new stake in Microsoft during the 3rd quarter valued at $32,000. Virtus ETF Advisers LLC increased its holdings in Microsoft by 230.5% during the 2nd quarter. Virtus ETF Advisers LLC now owns 195 shares of the software giant’s stock valued at $40,000 after purchasing an additional 136 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Microsoft during the 3rd quarter valued at $45,000. Virtus Alternative Investment Advisers Inc. acquired a new stake in Microsoft during the 2nd quarter valued at $48,000. Finally, Carolina Wealth Advisors LLC increased its holdings in Microsoft by 20.1% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 341 shares of the software giant’s stock valued at $72,000 after purchasing an additional 57 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Satya Nadella sold 104,500 shares of Microsoft stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $222.52, for a total value of $23,253,340.00. Following the sale, the chief executive officer now owns 1,392,573 shares of the company’s stock, valued at $309,875,343.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jean Philippe Courtois sold 15,014 shares of Microsoft stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $213.59, for a total value of $3,206,840.26. Following the completion of the sale, the executive vice president now directly owns 545,484 shares in the company, valued at approximately $116,509,927.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 422,556 shares of company stock worth $93,282,154. 0.05% of the stock is owned by company insiders.
MSFT opened at $210.39 on Friday. The business’s 50-day moving average price is $213.80 and its two-hundred day moving average price is $204.25. Microsoft Co. has a 1 year low of $132.52 and a 1 year high of $232.86. The company has a market capitalization of $1,590.65 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 2.58 and a beta of 0.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.53 and a quick ratio of 2.49.
Microsoft (NASDAQ:MSFT) last released its earnings results on Tuesday, October 27th. The software giant reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.29. Microsoft had a return on equity of 40.74% and a net margin of 32.28%. Sell-side analysts anticipate that Microsoft Co. will post 6.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be given a $0.56 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Microsoft’s previous quarterly dividend of $0.51. Microsoft’s payout ratio is currently 38.89%.
A number of research analysts have commented on the company. Jefferies Financial Group set a $260.00 price objective on Microsoft and gave the company a “buy” rating in a research report on Wednesday, October 28th. Morgan Stanley increased their price objective on Microsoft from $245.00 to $249.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. UBS Group set a $243.00 price objective on Microsoft and gave the company a “buy” rating in a research report on Wednesday, October 28th. BMO Capital Markets increased their price objective on Microsoft from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, October 26th. Finally, Royal Bank of Canada increased their price objective on Microsoft from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, October 13th. Three investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $230.46.
Microsoft Company Profile
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, and OneDrive; LinkedIn that includes Talent, Learning, Sales, and Marketing solutions, as well as premium subscriptions; and Dynamics 365, a set of cloud-based and on-premises business solutions for small and medium businesses, large organizations, and divisions of enterprises.
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