Bremer Bank National Association reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 4.8% in the second quarter, HoldingsChannel.com reports. The firm owned 40,103 shares of the software giant’s stock after selling 2,044 shares during the period. Microsoft comprises about 2.0% of Bremer Bank National Association’s investment portfolio, making the stock its 6th largest holding. Bremer Bank National Association’s holdings in Microsoft were worth $10,300,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSFT. Weil Company Inc. boosted its stake in shares of Microsoft by 199.7% in the 4th quarter. Weil Company Inc. now owns 3,378 shares of the software giant’s stock worth $1,136,000 after buying an additional 2,251 shares during the last quarter. Day & Ennis LLC boosted its stake in shares of Microsoft by 1.6% in the 4th quarter. Day & Ennis LLC now owns 11,918 shares of the software giant’s stock worth $4,008,000 after buying an additional 182 shares during the last quarter. Rathbones Group PLC boosted its stake in shares of Microsoft by 3.2% in the 4th quarter. Rathbones Group PLC now owns 1,953,821 shares of the software giant’s stock worth $657,109,000 after buying an additional 59,763 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. boosted its stake in shares of Microsoft by 16.1% in the 4th quarter. Sumitomo Mitsui Financial Group Inc. now owns 75,349 shares of the software giant’s stock worth $25,363,000 after buying an additional 10,446 shares during the last quarter. Finally, B. Riley Wealth Management Inc. boosted its stake in shares of Microsoft by 4.9% in the 4th quarter. B. Riley Wealth Management Inc. now owns 115,876 shares of the software giant’s stock worth $38,971,000 after buying an additional 5,460 shares during the last quarter. 69.29% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms recently commented on MSFT. Jefferies Financial Group set a $320.00 price objective on Microsoft in a research note on Tuesday, September 6th. Itau BBA Securities began coverage on Microsoft in a research note on Tuesday, July 26th. They issued an “outperform” rating and a $287.00 price objective on the stock. Rosenblatt Securities dropped their price objective on Microsoft from $349.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on Microsoft from $350.00 to $330.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. Finally, Morgan Stanley dropped their price objective on Microsoft from $372.00 to $354.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Two investment analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $334.31.
Microsoft Trading Down 0.8 %
Microsoft (NASDAQ:MSFT – Get Rating) last released 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 in the prior year, the firm posted $2.17 earnings per share. Equities research analysts forecast that Microsoft Co. will post 10.15 earnings per share for the current fiscal year.
Microsoft Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.12%. This is a boost from Microsoft’s previous quarterly dividend of $0.62. Microsoft’s dividend payout ratio is currently 25.73%.
Insider Activity at Microsoft
In related news, CMO Christopher C. Capossela sold 5,000 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $266.25, for a total value of $1,331,250.00. Following the transaction, the chief marketing officer now owns 109,837 shares of the company’s stock, valued at $29,244,101.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is owned by insiders.
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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