Schmidt P J Investment Management Inc. reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,411 shares of the software giant's stock after selling 2,887 shares during the quarter. Microsoft accounts for approximately 5.9% of Schmidt P J Investment Management Inc.'s portfolio, making the stock its 2nd largest holding. Schmidt P J Investment Management Inc.'s holdings in Microsoft were worth $28,170,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. DGS Capital Management LLC grew its position in shares of Microsoft by 19.9% in the 1st quarter. DGS Capital Management LLC now owns 14,342 shares of the software giant's stock worth $4,422,000 after acquiring an additional 2,383 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of Microsoft by 20.8% in the first quarter. IFM Investors Pty Ltd now owns 1,138,469 shares of the software giant's stock valued at $351,001,000 after acquiring an additional 196,338 shares during the period. Altus Wealth Group LLC lifted its position in shares of Microsoft by 1.2% during the 1st quarter. Altus Wealth Group LLC now owns 12,712 shares of the software giant's stock worth $3,919,000 after buying an additional 152 shares during the period. Powell Investment Advisors LLC increased its stake in shares of Microsoft by 16.2% in the 1st quarter. Powell Investment Advisors LLC now owns 2,578 shares of the software giant's stock valued at $795,000 after buying an additional 359 shares during the period. Finally, Onyx Bridge Wealth Group LLC boosted its stake in Microsoft by 8.2% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 6,782 shares of the software giant's stock worth $1,921,000 after purchasing an additional 512 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.
Microsoft Stock Down 1.2 %
Shares of NASDAQ MSFT opened at $322.23 on Thursday. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 33.25, a price-to-earnings-growth ratio of 2.44 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 1.75. The business has a 50-day moving average of $336.77 and a two-hundred day moving average of $300.04. Microsoft Co. has a 1 year low of $213.43 and a 1 year high of $366.78.
Microsoft (NASDAQ:MSFT - Get Free Report) last announced its earnings results on Tuesday, July 25th. The software giant reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.14. The company had revenue of $56.19 billion during the quarter, compared to the consensus estimate of $55.49 billion. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The company's revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $2.23 earnings per share. On average, analysts forecast that Microsoft Co. will post 10.85 earnings per share for the current fiscal year.
Microsoft Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Wednesday, August 16th. Microsoft's dividend payout ratio is currently 28.07%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on MSFT. Wolfe Research raised their price objective on shares of Microsoft from $330.00 to $350.00 and gave the company an "outperform" rating in a report on Wednesday, April 26th. Fundamental Research set a $298.10 target price on Microsoft and gave the stock a "hold" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Microsoft from $340.00 to $380.00 in a research note on Tuesday, May 30th. Wedbush raised their price target on Microsoft from $375.00 to $400.00 in a research report on Wednesday, July 26th. Finally, Mizuho increased their target price on Microsoft from $360.00 to $390.00 and gave the company a "buy" rating in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $371.84.
Read Our Latest Stock Report on Microsoft
Insider Buying and Selling
In other news, insider Bradford L. Smith sold 50,000 shares of the firm's stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total value of $16,860,000.00. Following the transaction, the insider now owns 588,084 shares of the company's stock, valued at approximately $198,301,924.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Teri List sold 1,250 shares of Microsoft stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $334.77, for a total value of $418,462.50. Following the transaction, the director now directly owns 874 shares of the company's stock, valued at $292,588.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bradford L. Smith sold 50,000 shares of the company's stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the transaction, the insider now owns 588,084 shares of the company's stock, valued at $198,301,924.80. The disclosure for this sale can be found here. Insiders have sold a total of 61,331 shares of company stock valued at $20,450,828 over the last three months. 0.03% of the stock is owned by corporate insiders.
Microsoft Profile
(
Free Report)
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.
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