Aviva PLC increased its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 10.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,457,827 shares of the software giant’s stock after acquiring an additional 321,666 shares during the period. Microsoft comprises about 4.7% of Aviva PLC’s holdings, making the stock its largest holding. Aviva PLC’s holdings in Microsoft were worth $888,074,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. increased its holdings in Microsoft by 1,316.7% during the 1st 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 during the period. Monumental Financial Group Inc. purchased a new position in Microsoft during the 1st quarter valued at about $28,000. Newfound Research LLC increased its holdings in Microsoft by 25.4% during the 2nd quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock valued at $76,000 after purchasing an additional 60 shares during the period. Darrow Company Inc. purchased a new position in Microsoft during the 2nd quarter valued at about $82,000. Finally, Evolution Advisers Inc. increased its holdings in Microsoft by 36.4% during the 1st quarter. Evolution Advisers Inc. now owns 341 shares of the software giant’s stock valued at $105,000 after purchasing an additional 91 shares during the period. Institutional investors own 69.29% of the company’s stock.
Insider Transactions at Microsoft
In other 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by company insiders.
Microsoft Price Performance
Microsoft (NASDAQ:MSFT – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, topping 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%. Microsoft’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.27 EPS. On average, equities analysts predict that Microsoft Co. will post 9.62 earnings per share for the current year.
Microsoft Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.10%. This is a positive change from Microsoft’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, November 16th. Microsoft’s dividend payout ratio is 29.31%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on MSFT. Raymond James reduced their target price on Microsoft from $300.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Wells Fargo & Company reduced their target price on Microsoft from $315.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Cowen reduced their target price on Microsoft from $310.00 to $285.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Wolfe Research reduced their target price on Microsoft from $340.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Finally, JPMorgan Chase & Co. reduced their target price on Microsoft from $305.00 to $275.00 in a report on Wednesday, October 26th. Three equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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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