Pittenger & Anderson Inc. raised its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,287 shares of the software giant’s stock after buying an additional 3,159 shares during the period. Microsoft comprises approximately 1.9% of Pittenger & Anderson Inc.’s investment portfolio, making the stock its 7th biggest position. Pittenger & Anderson Inc.’s holdings in Microsoft were worth $39,552,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. DekaBank Deutsche Girozentrale boosted its stake in shares of Microsoft by 4.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 6,299,267 shares of the software giant’s stock valued at $1,976,962,000 after purchasing an additional 297,066 shares during the period. Pitti Group Wealth Management LLC lifted its holdings in Microsoft by 5.7% during the 1st quarter. Pitti Group Wealth Management LLC now owns 4,452 shares of the software giant’s stock valued at $1,373,000 after buying an additional 239 shares in the last quarter. Kathmere Capital Management LLC boosted its position in Microsoft by 47.4% in the 1st quarter. Kathmere Capital Management LLC now owns 7,698 shares of the software giant’s stock valued at $2,373,000 after buying an additional 2,474 shares during the period. Consolidated Investment Group LLC grew its stake in Microsoft by 14.1% in the 1st quarter. Consolidated Investment Group LLC now owns 25,889 shares of the software giant’s stock worth $7,981,000 after acquiring an additional 3,200 shares in the last quarter. Finally, PRW Wealth Management LLC increased its position in shares of Microsoft by 10.2% during the first quarter. PRW Wealth Management LLC now owns 5,588 shares of the software giant’s stock worth $1,722,000 after acquiring an additional 519 shares during the period. Institutional investors own 69.99% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Fundamental Research lowered their price target on Microsoft from $299.93 to $298.00 and set a “hold” rating for the company in a report on Tuesday, May 3rd. KeyCorp cut their price target on Microsoft from $373.00 to $330.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Morgan Stanley lowered their price objective on shares of Microsoft from $372.00 to $354.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Itaú Unibanco started coverage on shares of Microsoft in a research report on Tuesday, July 26th. They set an “outperform” rating and a $287.00 target price on the stock. Finally, The Goldman Sachs Group set a $365.00 price target on shares of Microsoft in a research report on Wednesday, April 27th. One investment analyst has rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $334.47.
Microsoft Trading Down 1.1 %
Microsoft (NASDAQ:MSFT – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The software giant reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.06). Microsoft had a return on equity of 43.31% and a net margin of 36.69%. During the same quarter last year, the company posted $2.17 earnings per share. Equities analysts predict that Microsoft Co. will post 10.14 EPS for the current year.
Microsoft Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, August 17th. Microsoft’s payout ratio is 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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