Patten Group Inc. reduced its position in Microsoft Corporation (NASDAQ:MSFT) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,611 shares of the software giant’s stock after selling 341 shares during the period. Microsoft Corporation makes up 1.4% of Patten Group Inc.’s holdings, making the stock its 13th largest position. Patten Group Inc.’s holdings in Microsoft Corporation were worth $3,193,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Asset Planning Services Ltd. boosted its stake in shares of Microsoft Corporation by 93.0% in the first quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after buying an additional 837 shares during the period. Ullmann Financial Group Inc. purchased a new stake in shares of Microsoft Corporation during the first quarter worth about $132,000. Pacific Center for Financial Services purchased a new stake in shares of Microsoft Corporation during the fourth quarter worth about $155,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Microsoft Corporation during the fourth quarter worth about $161,000. Finally, Arcus Capital Partners LLC purchased a new stake in shares of Microsoft Corporation during the first quarter worth about $205,000. 72.64% of the stock is owned by hedge funds and other institutional investors.
Microsoft Corporation (NASDAQ MSFT) traded down 0.40% during mid-day trading on Monday, reaching $72.20. 5,837,969 shares of the company’s stock traded hands. The stock’s 50 day moving average is $72.16 and its 200-day moving average is $68.26. The stock has a market capitalization of $556.10 billion, a PE ratio of 26.64 and a beta of 1.01. Microsoft Corporation has a 52 week low of $55.61 and a 52 week high of $74.42.
Microsoft Corporation (NASDAQ:MSFT) last announced its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.27. The company had revenue of $24.70 billion for the quarter, compared to analyst estimates of $24.29 billion. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, equities analysts anticipate that Microsoft Corporation will post $3.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $1.56 annualized dividend and a yield of 2.15%. Microsoft Corporation’s dividend payout ratio is currently 57.78%.
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MSFT has been the subject of several research analyst reports. Sanford C. Bernstein reaffirmed a “buy” rating and set a $81.00 target price on shares of Microsoft Corporation in a research note on Friday, April 28th. Morningstar, Inc. reaffirmed a “buy” rating on shares of Microsoft Corporation in a research note on Friday, April 28th. Pacific Crest reaffirmed a “buy” rating and set a $78.00 target price (up from $70.00) on shares of Microsoft Corporation in a research note on Friday, April 28th. Goldman Sachs Group, Inc. (The) raised their target price on shares of Microsoft Corporation from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, Vetr raised shares of Microsoft Corporation from a “hold” rating to a “buy” rating and set a $71.81 target price for the company in a research note on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $76.26.
In other Microsoft Corporation news, insider Jean Philippe Courtois sold 26,165 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $69.00, for a total value of $1,805,385.00. Following the transaction, the insider now directly owns 570,843 shares in the company, valued at $39,388,167. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher C. Capossela sold 4,927 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $68.75, for a total transaction of $338,731.25. Following the completion of the transaction, the executive vice president now owns 214,080 shares in the company, valued at $14,718,000. The disclosure for this sale can be found here. Insiders sold 7,057,855 shares of company stock worth $512,044,578 over the last quarter. 2.99% of the stock is currently owned by insiders.
About Microsoft Corporation
Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.
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