Columbia Asset Management cut its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,492 shares of the software giant’s stock after selling 1,416 shares during the quarter. Microsoft comprises approximately 3.3% of Columbia Asset Management’s investment portfolio, making the stock its 3rd biggest position. Columbia Asset Management’s holdings in Microsoft were worth $10,763,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MSFT. Acrospire Investment Management LLC lifted its stake in Microsoft by 300.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the software giant’s stock worth $110,000 after acquiring an additional 1,200 shares in the last quarter. Stelac Advisory Services LLC lifted its stake in Microsoft by 23.5% during the 2nd quarter. Stelac Advisory Services LLC now owns 2,033 shares of the software giant’s stock worth $140,000 after acquiring an additional 387 shares in the last quarter. Pacific Center for Financial Services lifted its stake in Microsoft by 3.0% during the 2nd quarter. Pacific Center for Financial Services now owns 2,572 shares of the software giant’s stock worth $177,000 after acquiring an additional 75 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in Microsoft by 1.1% during the 2nd quarter. AlphaMark Advisors LLC now owns 2,677 shares of the software giant’s stock worth $185,000 after acquiring an additional 30 shares in the last quarter. Finally, Ruggie Capital Group lifted its stake in Microsoft by 1,165.9% during the 2nd quarter. Ruggie Capital Group now owns 2,823 shares of the software giant’s stock worth $195,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.
Several research firms recently issued reports on MSFT. Tigress Financial reissued a “buy” rating on shares of Microsoft in a research note on Wednesday, February 14th. Vetr raised Microsoft from a “buy” rating to a “strong-buy” rating and set a $95.92 target price on the stock in a research note on Monday, February 12th. Argus increased their target price on Microsoft from $95.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Zacks Investment Research raised Microsoft from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research note on Monday, February 5th. Finally, Nomura increased their target price on Microsoft from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $99.14.
Microsoft (NASDAQ:MSFT) last issued its earnings results on Wednesday, January 31st. The software giant reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.09. The business had revenue of $28.92 billion for the quarter, compared to analyst estimates of $28.42 billion. Microsoft had a return on equity of 35.41% and a net margin of 11.72%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. research analysts forecast that Microsoft Co. will post 3.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, February 14th. This represents a $1.68 dividend on an annualized basis and a yield of 1.83%. Microsoft’s dividend payout ratio is presently 51.53%.
In related news, insider Frank H. Brod sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $83.15, for a total transaction of $1,496,700.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christopher C. Capossela sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $83.44, for a total value of $333,760.00. Following the transaction, the executive vice president now owns 184,278 shares in the company, valued at approximately $15,376,156.32. The disclosure for this sale can be found here. Company insiders own 1.49% of the company’s stock.
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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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