AR Asset Management Inc. lifted its holdings in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 23,904 shares of the software giant’s stock after buying an additional 160 shares during the period. Microsoft makes up about 1.7% of AR Asset Management Inc.’s investment portfolio, making the stock its 18th largest position. AR Asset Management Inc.’s holdings in Microsoft were worth $6,139,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the business. Cooper Financial Group increased its holdings in Microsoft by 1.9% in the 1st quarter. Cooper Financial Group now owns 36,136 shares of the software giant’s stock worth $11,141,000 after acquiring an additional 674 shares in the last quarter. DGS Capital Management LLC increased its holdings in Microsoft by 19.9% in the 1st quarter. DGS Capital Management LLC now owns 14,342 shares of the software giant’s stock worth $4,422,000 after acquiring an additional 2,383 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in Microsoft by 20.8% in the 1st quarter. IFM Investors Pty Ltd now owns 1,138,469 shares of the software giant’s stock worth $351,001,000 after acquiring an additional 196,338 shares in the last quarter. Kwmg LLC increased its holdings in Microsoft by 2.4% in the 1st quarter. Kwmg LLC now owns 18,890 shares of the software giant’s stock worth $5,824,000 after acquiring an additional 437 shares in the last quarter. Finally, Essex LLC increased its holdings in Microsoft by 194.4% in the 1st quarter. Essex LLC now owns 14,230 shares of the software giant’s stock worth $4,387,000 after acquiring an additional 9,396 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently issued reports on MSFT. Oppenheimer reduced their target price on shares of Microsoft from $275.00 to $265.00 in a report on Wednesday, October 26th. Royal Bank of Canada cut their price objective on shares of Microsoft from $380.00 to $310.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Macquarie assumed coverage on shares of Microsoft in a report on Wednesday, November 2nd. They set a “neutral” rating and a $234.00 price objective for the company. Itaú Unibanco assumed coverage on shares of Microsoft in a report on Tuesday, July 26th. They set an “outperform” rating and a $287.00 price objective for the company. Finally, Moffett Nathanson assumed coverage on shares of Microsoft in a report on Thursday, September 22nd. They set a “hold” rating and a $285.00 price objective for the company. Three equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.64.
Microsoft Stock 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, topping 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 business had revenue of $50.12 billion during the quarter, compared to the consensus estimate of $49.70 billion. During the same period last year, the company earned $2.27 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts anticipate that Microsoft Co. will post 9.62 EPS for the current year.
Microsoft Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be paid a dividend of $0.68 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.72 annualized dividend 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%.
In other news, CMO Christopher C. Capossela sold 5,000 shares of the firm’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 owns 109,837 shares in the company, valued at $29,244,101.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.03% of the company’s stock.
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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