Iyo Bank Ltd. boosted its holdings in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 12.3% during the 2nd quarter, Holdings Channel reports. The firm owned 66,077 shares of the software giant’s stock after acquiring an additional 7,235 shares during the period. Microsoft makes up about 5.6% of Iyo Bank Ltd.’s investment portfolio, making the stock its 3rd largest holding. Iyo Bank Ltd.’s holdings in Microsoft were worth $16,971,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares 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 buying an additional 79 shares during the period. Monumental Financial Group Inc. bought a new stake in shares of Microsoft in the first quarter valued at $28,000. Newfound Research LLC raised its stake in shares of 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 buying an additional 60 shares during the period. Darrow Company Inc. bought a new stake in shares of Microsoft in the second quarter valued at $82,000. Finally, Evolution Advisers Inc. raised its stake in shares of Microsoft by 36.4% in the first quarter. Evolution Advisers Inc. now owns 341 shares of the software giant’s stock valued at $105,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on MSFT. Morgan Stanley decreased their price objective on Microsoft from $325.00 to $307.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Citigroup decreased their price objective on Microsoft from $300.00 to $282.00 and set a “buy” rating on the stock in a research note on Wednesday, October 19th. Stifel Nicolaus decreased their price objective on Microsoft from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. Oppenheimer decreased their price objective on Microsoft from $275.00 to $265.00 in a research note on Wednesday, October 26th. Finally, Macquarie began coverage on Microsoft in a research note on Wednesday, November 2nd. They set a “neutral” rating and a $234.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. According to MarketBeat.com, Microsoft presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.64.
Microsoft Price Performance
Microsoft (NASDAQ:MSFT – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The software giant reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. The firm had revenue of $50.12 billion during the quarter, compared to analysts’ expectations of $49.70 billion. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.27 EPS. Equities analysts predict that Microsoft Co. will post 9.62 earnings per share for the current fiscal year.
Microsoft Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be issued a dividend of $0.68 per share. The ex-dividend date is Wednesday, November 16th. This is a boost from Microsoft’s previous quarterly dividend of $0.62. This represents a $2.72 annualized dividend and a yield of 1.11%. Microsoft’s dividend payout ratio is currently 29.31%.
Insider Activity at Microsoft
In related news, CMO Christopher C. Capossela sold 5,000 shares of the 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 directly owns 109,837 shares in the company, valued at approximately $29,244,101.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is currently owned by company 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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