Manchester Capital Management LLC reduced its holdings in Microsoft Co. (NASDAQ:MSFT) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,572 shares of the software giant’s stock after selling 425 shares during the period. Microsoft accounts for about 0.5% of Manchester Capital Management LLC’s portfolio, making the stock its 27th largest holding. Manchester Capital Management LLC’s holdings in Microsoft were worth $4,250,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of MSFT. Nuveen Asset Management LLC increased its stake in Microsoft by 2,651.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 67,353,275 shares of the software giant’s stock valued at $9,022,645,000 after buying an additional 64,905,685 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in Microsoft by 13,479.6% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 8,726,283 shares of the software giant’s stock valued at $872,628,000 after buying an additional 8,662,023 shares during the last quarter. Vanguard Group Inc. increased its stake in Microsoft by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 613,005,516 shares of the software giant’s stock valued at $82,118,218,000 after buying an additional 7,724,483 shares during the last quarter. Edgewood Management LLC acquired a new stake in Microsoft in the 2nd quarter valued at $620,230,000. Finally, Parnassus Investments CA increased its stake in Microsoft by 87.9% in the 2nd quarter. Parnassus Investments CA now owns 8,818,322 shares of the software giant’s stock valued at $1,181,303,000 after buying an additional 4,126,121 shares during the last quarter. Hedge funds and other institutional investors own 72.17% of the company’s stock.
MSFT has been the subject of a number of analyst reports. BMO Capital Markets lifted their price objective on shares of Microsoft from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Zacks Investment Research raised shares of Microsoft from a “hold” rating to a “buy” rating and set a $147.00 price objective for the company in a research report on Friday, October 25th. BidaskClub raised shares of Microsoft from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Citigroup lifted their price objective on shares of Microsoft from $152.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, ValuEngine downgraded shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One research 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $159.45.
Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Wednesday, October 23rd. The software giant reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.14. The firm had revenue of $33.06 billion during the quarter, compared to the consensus estimate of $32.24 billion. Microsoft had a net margin of 31.66% and a return on equity of 39.14%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 EPS. Equities analysts expect that Microsoft Co. will post 5.35 EPS for the current year.
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 given a $0.51 dividend. The ex-dividend date is Wednesday, November 20th. This is a boost from Microsoft’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.36%. Microsoft’s payout ratio is presently 38.74%.
Microsoft declared that its Board of Directors has approved a stock repurchase plan on Wednesday, September 18th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the software giant to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, EVP Kathleen T. Hogan sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $135.25, for a total value of $5,410,000.00. Following the completion of the transaction, the executive vice president now directly owns 198,042 shares in the company, valued at approximately $26,785,180.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jean Philippe Courtois sold 11,779 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.00, for a total transaction of $1,649,060.00. Following the completion of the transaction, the executive vice president now owns 597,727 shares of the company’s stock, valued at $83,681,780. The disclosure for this sale can be found here. Insiders sold a total of 332,804 shares of company stock valued at $45,823,569 over the last 90 days. Corporate insiders own 1.39% of the company’s stock.
Microsoft Company 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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