Fulton Breakefield Broenniman LLC reduced its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,668 shares of the software giant’s stock after selling 160 shares during the quarter. Microsoft comprises 3.1% of Fulton Breakefield Broenniman LLC’s investment portfolio, making the stock its biggest position. Fulton Breakefield Broenniman LLC’s holdings in Microsoft were worth $26,126,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted 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 worth $82,118,218,000 after purchasing an additional 7,724,483 shares in the last quarter. Northern Trust Corp raised its position in shares of Microsoft by 0.4% during the 2nd quarter. Northern Trust Corp now owns 96,567,563 shares of the software giant’s stock valued at $12,936,190,000 after buying an additional 385,074 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Microsoft by 2,651.8% during 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Microsoft by 2.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,368,268 shares of the software giant’s stock valued at $4,603,974,000 after buying an additional 782,124 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Microsoft by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 32,812,008 shares of the software giant’s stock valued at $4,561,852,000 after buying an additional 746,243 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.
MSFT has been the topic of several research reports. Evercore ISI restated a “buy” rating and set a $170.00 price objective on shares of Microsoft in a research report on Monday, December 16th. BMO Capital Markets raised 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. Jefferies Financial Group restated a “buy” rating and set a $185.00 price objective (up previously from $160.00) on shares of Microsoft in a research report on Thursday, January 9th. Piper Jaffray Companies restated an “overweight” rating and set a $158.00 price objective on shares of Microsoft in a research report on Friday, October 25th. Finally, BidaskClub upgraded shares of Microsoft from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company. Microsoft presently has a consensus rating of “Buy” and an average price target of $165.97.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Wednesday, October 23rd. The software giant reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.14. The business had revenue of $33.06 billion for the quarter, compared to analyst estimates of $32.24 billion. Microsoft had a net margin of 31.66% and a return on equity of 39.14%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. As a group, analysts forecast that Microsoft Co. will post 5.36 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 20th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Wednesday, February 19th. Microsoft’s dividend payout ratio (DPR) is presently 42.95%.
Microsoft announced that its Board of Directors has authorized a share repurchase plan on Wednesday, September 18th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the software giant to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
In other Microsoft news, EVP Margaret L. Johnson sold 35,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $150.01, for a total value of $5,250,350.00. Following the sale, the executive vice president now owns 62,423 shares of the company’s stock, valued at approximately $9,364,074.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Christopher C. Capossela sold 2,500 shares of Microsoft stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $142.89, for a total transaction of $357,225.00. Following the sale, the chief marketing officer now directly owns 133,944 shares in the company, valued at approximately $19,139,258.16. The disclosure for this sale can be found here. In the last three months, insiders sold 66,919 shares of company stock worth $9,817,790. Insiders own 1.39% of the company’s stock.
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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