Van ECK Associates Corp boosted its position in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,059,358 shares of the software giant’s stock after purchasing an additional 93,188 shares during the quarter. Van ECK Associates Corp’s holdings in Microsoft were worth $272,075,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC increased its stake in shares of Microsoft by 35,465.9% in the 1st quarter. Aaron Wealth Advisors LLC now owns 20,611,140 shares of the software giant’s stock worth $66,852,000 after acquiring an additional 20,553,188 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Microsoft by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 621,598,157 shares of the software giant’s stock worth $191,644,927,000 after acquiring an additional 5,648,095 shares during the last quarter. Swiss National Bank increased its stake in shares of Microsoft by 13.8% in the 1st quarter. Swiss National Bank now owns 30,893,155 shares of the software giant’s stock worth $9,524,669,000 after acquiring an additional 3,757,500 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Microsoft by 13.2% in the 1st quarter. Jennison Associates LLC now owns 23,092,331 shares of the software giant’s stock worth $7,119,597,000 after acquiring an additional 2,696,424 shares during the last quarter. Finally, Verity Asset Management Inc. increased its stake in shares of Microsoft by 21,811.0% in the 1st quarter. Verity Asset Management Inc. now owns 2,047,582 shares of the software giant’s stock worth $2,901,000 after acquiring an additional 2,038,237 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Microsoft
In other Microsoft news, CMO Christopher C. Capossela sold 5,000 shares of the business’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 completion of 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 document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by company insiders.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Rating) last released its earnings results on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. The firm had revenue of $50.12 billion during the quarter, compared to analyst estimates of $49.70 billion. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.27 earnings per share. Equities research analysts anticipate that Microsoft Co. will post 9.62 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 given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, November 16th. This is an increase from Microsoft’s previous quarterly dividend of $0.62. Microsoft’s payout ratio is 29.31%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on MSFT shares. Deutsche Bank Aktiengesellschaft lowered their price target on Microsoft from $315.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Wells Fargo & Company lowered their target price on Microsoft from $315.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. UBS Group set a $300.00 price target on Microsoft in a research report on Monday, November 14th. Barclays set a $296.00 price target on Microsoft in a research report on Tuesday, November 1st. Finally, Rosenblatt Securities reduced their price target on Microsoft from $300.00 to $285.00 and set a “buy” rating on the stock in a research report on Thursday, October 27th. Three analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $300.64.
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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