IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,080 shares of the software giant’s stock after selling 1,829 shares during the quarter. Microsoft comprises 3.6% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s investment portfolio, making the stock its largest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Microsoft were worth $17,999,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of MSFT. University of Texas Texas AM Investment Managment Co. raised its stake in shares of 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 purchasing an additional 79 shares in the last quarter. Monumental Financial Group Inc. acquired a new position in shares of Microsoft in the first quarter valued at $28,000. Tobam grew its position 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 period. Artemis Wealth Advisors LLC bought a new stake in Microsoft in the first quarter valued at $68,000. Finally, Newfound Research LLC grew its position in Microsoft by 25.4% in the second quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock valued at $76,000 after acquiring an additional 60 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on MSFT. Guggenheim began coverage on Microsoft in a research report on Friday, August 12th. They issued a “neutral” rating and a $292.00 price target on the stock. Oppenheimer lowered their price target on Microsoft from $275.00 to $265.00 in a research report on Wednesday, October 26th. Cowen lowered their price target on Microsoft from $310.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft lowered their price target on Microsoft from $315.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, October 26th. Finally, BMO Capital Markets decreased their target price on Microsoft from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Three investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to MarketBeat.com, Microsoft presently has a consensus rating of “Moderate Buy” and an average price target of $300.64.
Microsoft Trading Down 0.2 %
Microsoft (NASDAQ:MSFT – Get Rating) last released its earnings results on Tuesday, October 25th. The software giant reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The firm had revenue of $50.12 billion for the quarter, compared to analyst estimates of $49.70 billion. During the same quarter in the prior year, the firm posted $2.27 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts expect that Microsoft Co. will post 9.62 earnings per share for the current year.
Microsoft Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Microsoft’s previous quarterly dividend of $0.62. Microsoft’s dividend payout ratio (DPR) is currently 29.31%.
Insider Transactions at Microsoft
In other news, CMO Christopher C. Capossela sold 5,000 shares of the firm’s stock in a transaction dated 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 sale, 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 is available at the SEC website. 0.03% of the stock is currently owned by insiders.
Microsoft Company Profile
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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