Spence Asset Management Grows Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Spence Asset Management increased its stake in shares of Microsoft Co. (NASDAQ:MSFTGet Rating) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 78,549 shares of the software giant’s stock after acquiring an additional 554 shares during the quarter. Microsoft comprises about 6.6% of Spence Asset Management’s holdings, making the stock its 4th largest position. Spence Asset Management’s holdings in Microsoft were worth $20,174,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. University of Texas Texas AM Investment Managment Co. boosted its stake in Microsoft by 1,316.7% in the first quarter. University of Texas Texas AM Investment Managment Co. now owns 85 shares of the software giant’s stock valued at $26,000 after acquiring an additional 79 shares during the last quarter. Monumental Financial Group Inc. bought a new position in Microsoft in the first quarter valued at approximately $28,000. Joseph Group Capital Management bought a new position in Microsoft in the fourth quarter valued at approximately $1,535,000. Shore Point Advisors LLC bought a new position in Microsoft in the fourth quarter valued at approximately $40,000. Finally, Tobam boosted its stake in 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 acquiring an additional 154 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on MSFT. JPMorgan Chase & Co. set a $320.00 price objective on shares of Microsoft in a research note on Thursday, June 9th. Itaú Unibanco started coverage on shares of Microsoft in a report on Tuesday, July 26th. They issued an “outperform” rating and a $287.00 target price on the stock. Stifel Nicolaus cut their target price on shares of Microsoft from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. UBS Group set a $330.00 target price on shares of Microsoft in a report on Thursday. Finally, Mizuho cut their target price on shares of Microsoft from $350.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, July 19th. Two analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to data from MarketBeat, Microsoft presently has a consensus rating of “Moderate Buy” and a consensus price target of $334.31.

Microsoft Stock Performance

Shares of MSFT opened at $244.74 on Monday. The firm has a 50-day moving average of $268.81 and a 200-day moving average of $273.85. Microsoft Co. has a one year low of $241.51 and a one year high of $349.67. The company has a market cap of $1.83 trillion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.78 and a quick ratio of 1.75.

Microsoft (NASDAQ:MSFTGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The software giant reported $2.23 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 quarter in the prior year, the company posted $2.17 earnings per share. As a group, equities analysts forecast that Microsoft Co. will post 10.14 earnings per share for the current year.

Insider Buying and Selling

In related news, CMO Christopher C. Capossela sold 5,000 shares of Microsoft stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $266.25, for a total transaction of $1,331,250.00. Following the completion of the sale, the chief marketing officer now owns 109,837 shares of the company’s stock, valued at approximately $29,244,101.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.05% of the stock is currently owned by insiders.

About Microsoft

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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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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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