Institute for Wealth Management LLC. cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 55,662 shares of the software giant’s stock after selling 348 shares during the period. Microsoft makes up approximately 2.7% of Institute for Wealth Management LLC.’s holdings, making the stock its 2nd largest holding. Institute for Wealth Management LLC.’s holdings in Microsoft were worth $11,707,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Newfound Research LLC acquired a new position in Microsoft during the 3rd quarter worth approximately $32,000. Virtus ETF Advisers LLC raised its position in shares of Microsoft by 230.5% in 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 position in shares of Microsoft in the 3rd quarter valued at approximately $45,000. Virtus Alternative Investment Advisers Inc. acquired a new position in shares of Microsoft in the 2nd quarter valued at approximately $48,000. Finally, Your Advocates Ltd. LLP raised its position in shares of Microsoft by 588.2% in the 2nd quarter. Your Advocates Ltd. LLP now owns 351 shares of the software giant’s stock valued at $71,000 after purchasing an additional 300 shares in the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Amy Hood sold 80,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $218.14, for a total transaction of $17,451,200.00. Following the completion of the sale, the chief financial officer now directly owns 452,720 shares of the company’s stock, valued at $98,756,340.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jean Philippe Courtois sold 15,014 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 545,484 shares of the company’s stock, valued at $116,509,927.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 422,556 shares of company stock valued at $93,282,154. 0.05% of the stock is currently owned by company insiders.
Several research firms recently issued reports on MSFT. Sanford C. Bernstein reissued a “buy” rating and set a $245.00 price target on shares of Microsoft in a research report on Wednesday, October 28th. The Goldman Sachs Group reissued a “buy” rating and set a $255.00 price target (up from $235.00) on shares of Microsoft in a research report on Wednesday, October 28th. Mizuho upped their price target on Microsoft from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, October 15th. UBS Group set a $243.00 price target on Microsoft and gave the company a “buy” rating in a research report on Wednesday, October 28th. Finally, BidaskClub upgraded Microsoft from a “sell” rating to a “hold” rating in a research note on Tuesday, September 29th. Three analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $230.46.
Shares of Microsoft stock opened at $210.39 on Friday. The company has a quick ratio of 2.49, a current ratio of 2.53 and a debt-to-equity ratio of 0.46. The firm has a market cap of $1,590.65 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 2.58 and a beta of 0.87. The business has a fifty day simple moving average of $213.80 and a 200-day simple moving average of $204.25. Microsoft Co. has a fifty-two week low of $132.52 and a fifty-two week high of $232.86.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Tuesday, October 27th. The software giant reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.29. Microsoft had a return on equity of 40.74% and a net margin of 32.28%. 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. Stockholders of record on Thursday, November 19th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.06%. This is an increase from Microsoft’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, November 18th. Microsoft’s dividend payout ratio is currently 38.89%.
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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