Range Financial Group LLC Cuts Position in Microsoft Co. (NASDAQ:MSFT)

Range Financial Group LLC cut its stake in Microsoft Co. (NASDAQ:MSFTGet Rating) by 4.6% during the second quarter, HoldingsChannel reports. The fund owned 3,862 shares of the software giant’s stock after selling 185 shares during the quarter. Range Financial Group LLC’s holdings in Microsoft were worth $992,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Microsoft by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 621,598,157 shares of the software giant’s stock worth $191,644,927,000 after buying an additional 5,648,095 shares during the last quarter. State Street Corp grew its stake in Microsoft by 2.8% during the 4th quarter. State Street Corp now owns 302,541,869 shares of the software giant’s stock valued at $101,750,881,000 after purchasing an additional 8,108,943 shares during the last quarter. Geode Capital Management LLC grew its stake in Microsoft by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 129,107,118 shares of the software giant’s stock valued at $43,313,705,000 after purchasing an additional 3,027,306 shares during the last quarter. Norges Bank purchased a new stake in Microsoft during the 4th quarter valued at about $24,401,940,000. Finally, Nuveen Asset Management LLC grew its stake in Microsoft by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 57,181,533 shares of the software giant’s stock valued at $19,231,292,000 after purchasing an additional 584,273 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Itaú Unibanco assumed 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. Redburn Partners initiated coverage on Microsoft in a research note on Wednesday, June 29th. They set a “buy” rating and a $370.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on Microsoft from $350.00 to $330.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. JPMorgan Chase & Co. set a $320.00 price objective on Microsoft in a report on Thursday, June 9th. Finally, Piper Sandler decreased their price objective on Microsoft from $352.00 to $312.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Two research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.31.

Microsoft Trading Down 1.4 %

Shares of Microsoft stock opened at $238.95 on Thursday. The firm has a market capitalization of $1.78 trillion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.06 and a beta of 0.94. Microsoft Co. has a fifty-two week low of $238.90 and a fifty-two week high of $349.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 1.78. The stock has a 50 day moving average of $267.91 and a 200 day moving average of $272.92.

Microsoft (NASDAQ:MSFTGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The software giant reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.05). Microsoft had a return on equity of 43.31% and a net margin of 36.69%. The business had revenue of $51.87 billion during the quarter, compared to analysts’ expectations of $52.31 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. As a group, research analysts predict that Microsoft Co. will post 10.15 earnings per share for the current year.

Microsoft Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.14%. This is a boost from Microsoft’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, November 16th. Microsoft’s dividend payout ratio is 25.73%.

Insiders Place Their Bets

In other Microsoft news, CMO Christopher C. Capossela sold 5,000 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $266.25, for a total transaction of $1,331,250.00. Following the transaction, the chief marketing officer now directly owns 109,837 shares in the company, valued at $29,244,101.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by insiders.

Microsoft Company Profile

(Get Rating)

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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