Legacy Bridge LLC decreased its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 4.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,017 shares of the software giant’s stock after selling 460 shares during the quarter. Microsoft makes up about 1.6% of Legacy Bridge LLC’s investment portfolio, making the stock its 3rd largest position. Legacy Bridge LLC’s holdings in Microsoft were worth $2,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently bought and sold shares of MSFT. Shore Point Advisors LLC bought a new stake in Microsoft during the 4th quarter worth approximately $40,000. Tobam increased its stake in shares of Microsoft by 15,400.0% in the first quarter. Tobam now owns 155 shares of the software giant’s stock valued at $48,000 after buying an additional 154 shares in the last quarter. Artemis Wealth Advisors LLC acquired a new position in Microsoft during the 1st quarter worth about $68,000. Castle Financial & Retirement Planning Associates Inc. acquired a new position in Microsoft during the 4th quarter worth about $80,000. Finally, Evolution Advisers Inc. acquired a new stake in Microsoft in the 4th quarter valued at about $84,000. 69.99% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on MSFT shares. Evercore ISI reduced their target price on shares of Microsoft from $370.00 to $330.00 and set an “inline” rating on the stock in a research report on Wednesday, April 27th. Itaú Unibanco assumed coverage on Microsoft in a research note on Tuesday, July 26th. They issued an “outperform” rating and a $287.00 target price for the company. Itau BBA Securities initiated coverage on Microsoft in a research note on Tuesday, July 26th. They set an “outperform” rating and a $287.00 price target on the stock. KeyCorp lowered their price objective on Microsoft from $373.00 to $330.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Finally, Wedbush cut their target price on shares of Microsoft from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $334.47.
Microsoft Stock Down 1.1 %
Microsoft (NASDAQ:MSFT – Get Rating) last released its earnings results on Tuesday, July 26th. The software giant reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.06). Microsoft had a net margin of 36.69% and a return on equity of 43.31%. During the same period last year, the company posted $2.17 earnings per share. On average, equities analysts predict that Microsoft Co. will post 10.14 EPS for the current fiscal year.
Microsoft Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, August 17th. Microsoft’s payout ratio is presently 25.73%.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); 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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