Paragon Capital Management LLC cut its holdings in Microsoft Co. (NASDAQ:MSFT) by 15.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,607 shares of the software giant’s stock after selling 16,618 shares during the quarter. Microsoft comprises approximately 6.7% of Paragon Capital Management LLC’s holdings, making the stock its 2nd largest position. Paragon Capital Management LLC’s holdings in Microsoft were worth $12,736,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of MSFT. Navellier & Associates Inc lifted its position in Microsoft by 0.6% during the 2nd quarter. Navellier & Associates Inc now owns 15,304 shares of the software giant’s stock valued at $2,050,000 after purchasing an additional 95 shares during the period. Empirical Finance LLC lifted its position in Microsoft by 3.5% during the 2nd quarter. Empirical Finance LLC now owns 8,707 shares of the software giant’s stock valued at $1,166,000 after purchasing an additional 295 shares during the period. Legacy Financial Strategies LLC acquired a new position in Microsoft during the 2nd quarter valued at about $211,000. Axiom International Investors LLC DE lifted its position in Microsoft by 24.3% during the 2nd quarter. Axiom International Investors LLC DE now owns 1,042,490 shares of the software giant’s stock valued at $139,652,000 after purchasing an additional 203,715 shares during the period. Finally, Independence Bank of Kentucky lifted its position in Microsoft by 0.6% during the 2nd quarter. Independence Bank of Kentucky now owns 14,960 shares of the software giant’s stock valued at $2,004,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 72.22% of the company’s stock.
In related news, CFO Amy Hood sold 123,769 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $137.26, for a total value of $16,988,532.94. Following the transaction, the chief financial officer now owns 433,940 shares in the company, valued at $59,562,604.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Christopher C. Capossela sold 2,500 shares of Microsoft stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $144.01, for a total value of $360,025.00. Following the completion of the transaction, the chief marketing officer now owns 118,944 shares in the company, valued at approximately $17,129,125.44. The disclosure for this sale can be found here. Insiders have sold 332,804 shares of company stock valued at $45,823,569 in the last three months. Insiders own 1.39% of the company’s stock.
Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, October 23rd. The software giant reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.14. Microsoft had a return on equity of 39.14% and a net margin of 31.66%. The company had revenue of $33.06 billion during the quarter, compared to the consensus estimate of $32.24 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. As a group, analysts predict that Microsoft Co. will post 5.35 earnings per share for the current year.
Microsoft declared that its board has initiated a share buyback plan on Wednesday, September 18th that allows the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization allows the software giant to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.51 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.39%. This is an increase from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s dividend payout ratio (DPR) is currently 38.74%.
A number of research analysts have issued reports on MSFT shares. Evercore ISI set a $160.00 target price on shares of Microsoft and gave the company a “buy” rating in a research report on Friday, October 18th. UBS Group set a $162.00 price target on shares of Microsoft and gave the stock a “buy” rating in a research note on Friday, July 19th. KeyCorp reaffirmed a “buy” rating and set a $155.00 price target on shares of Microsoft in a research note on Thursday, August 29th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $158.00 price target on shares of Microsoft in a research note on Friday, October 25th. Finally, Jefferies Financial Group raised shares of Microsoft from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus 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.
Featured Story: Limitations to arbitrage trading
Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Co. (NASDAQ:MSFT).
Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.