JCIC Asset Management Inc. Lowers Stock Position in Microsoft Co. (NASDAQ:MSFT)

JCIC Asset Management Inc. cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,321 shares of the software giant’s stock after selling 1,930 shares during the period. Microsoft accounts for approximately 3.3% of JCIC Asset Management Inc.’s holdings, making the stock its 11th biggest holding. JCIC Asset Management Inc.’s holdings in Microsoft were worth $7,552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA boosted its position in Microsoft by 274.5% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock worth $26,000 after purchasing an additional 140 shares during the period. Krane Funds Advisors LLC acquired a new position in Microsoft in the 2nd quarter worth $26,000. Centaurus Financial Inc. lifted its holdings in Microsoft by 21.1% in the 1st quarter. Centaurus Financial Inc. now owns 3,222 shares of the software giant’s stock worth $27,000 after buying an additional 561 shares in the last quarter. AlphaOne Investment Services LLC acquired a new position in Microsoft in the 2nd quarter worth $51,000. Finally, Gavea Investimentos Ltda acquired a new position in Microsoft in the 2nd quarter worth $70,000. 72.16% of the stock is owned by institutional investors.

A number of brokerages have commented on MSFT. Credit Suisse Group set a $155.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a report on Wednesday, September 4th. Stifel Nicolaus boosted their price objective on shares of Microsoft from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Jefferies Financial Group upgraded shares of Microsoft from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Monday. UBS Group set a $162.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $153.00 price objective on shares of Microsoft in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $151.52.

In other news, CEO Satya Nadella sold 99,837 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $137.20, for a total value of $13,697,636.40. Following the sale, the chief executive officer now owns 1,124,339 shares in the company, valued at approximately $154,259,310.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frank H. Brod sold 4,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $141.05, for a total transaction of $564,200.00. Following the completion of the sale, the insider now owns 64,152 shares in the company, valued at approximately $9,048,639.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 318,757 shares of company stock worth $43,735,918. Company insiders own 1.38% of the company’s stock.

Shares of Microsoft stock opened at $135.67 on Thursday. The firm has a market cap of $1,035.90 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.22. The firm’s 50-day simple moving average is $137.39 and its 200-day simple moving average is $131.81. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.50 and a current ratio of 2.53. Microsoft Co. has a 1 year low of $93.96 and a 1 year high of $142.37.

Microsoft (NASDAQ:MSFT) last issued its earnings results on Thursday, July 18th. The software giant reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The business had revenue of $33.72 billion for the quarter, compared to analyst estimates of $32.80 billion. Microsoft had a net margin of 31.18% and a return on equity of 39.26%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 EPS. On average, equities analysts predict that Microsoft Co. will post 5.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.50%. 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 38.74%.

Microsoft announced that its board has authorized a stock repurchase program on Wednesday, September 18th that allows the company to buyback $40.00 billion in outstanding shares. This buyback authorization allows the software giant to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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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