Rockland Trust Co. lifted its stake in Microsoft Co. (NASDAQ:MSFT) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,480 shares of the software giant’s stock after acquiring an additional 636 shares during the period. Rockland Trust Co.’s holdings in Microsoft were worth $4,189,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Spectrum Financial Alliance Ltd LLC bought a new position in Microsoft in the 1st quarter worth approximately $147,000. Ballew Advisors Inc bought a new position in Microsoft in the 1st quarter worth approximately $164,000. Lara May & Associates LLC bought a new position in Microsoft in the 1st quarter worth approximately $199,000. Chartist Inc. CA bought a new position in Microsoft in the 1st quarter worth approximately $207,000. Finally, Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. bought a new position in Microsoft in the 1st quarter worth approximately $210,000. 71.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of MSFT stock opened at $113.57 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.86 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $860.07 billion, a P/E ratio of 28.79, a P/E/G ratio of 2.14 and a beta of 1.26. Microsoft Co. has a one year low of $72.92 and a one year high of $113.80.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 15th will be paid a $0.46 dividend. This is a positive change from Microsoft’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.84 annualized dividend and a yield of 1.62%. Microsoft’s payout ratio is currently 43.30%.
Several research analysts have commented on the company. Credit Suisse Group set a $125.00 price target on Microsoft and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research downgraded Microsoft from a “buy” rating to a “hold” rating in a research report on Wednesday. Oppenheimer lifted their price target on Microsoft to $127.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank of Canada set a $124.00 price objective on Microsoft and gave the stock a “buy” rating in a report on Monday, September 10th. Finally, Barclays lifted their price objective on Microsoft from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $119.74.
In other Microsoft news, EVP Margaret L. Johnson sold 47,000 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $107.67, for a total value of $5,060,490.00. Following the transaction, the executive vice president now owns 109,687 shares of the company’s stock, valued at $11,809,999.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Amy Hood sold 118,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $110.90, for a total value of $13,086,200.00. Following the completion of the transaction, the chief financial officer now directly owns 669,327 shares in the company, valued at approximately $74,228,364.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,042 shares of company stock worth $71,264,850. 1.49% of the stock is owned by insiders.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates through Productivity and Business Processes, Intelligent Cloud, and More Personal Computing segments. The Productivity and Business Processes segment offers Office 365 commercial products and services for businesses, 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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