State of New Jersey Common Pension Fund D Has $1.07 Billion Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

State of New Jersey Common Pension Fund D decreased its stake in Microsoft Co. (NASDAQ:MSFTGet Rating) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,151,248 shares of the software giant’s stock after selling 23,996 shares during the period. Microsoft makes up 4.1% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 2nd largest position. State of New Jersey Common Pension Fund D’s holdings in Microsoft were worth $1,066,165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Managment Co. grew its holdings in Microsoft by 1,316.7% during 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 during the period. Monumental Financial Group Inc. purchased a new position in shares of Microsoft during the 1st quarter valued at $28,000. Newfound Research LLC grew its stake in shares of Microsoft by 25.4% during the 2nd quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock worth $76,000 after acquiring an additional 60 shares during the period. Darrow Company Inc. purchased a new stake in Microsoft in the 2nd quarter worth about $82,000. Finally, Evolution Advisers Inc. raised its stake in Microsoft by 36.4% in the 1st quarter. Evolution Advisers Inc. now owns 341 shares of the software giant’s stock valued at $105,000 after acquiring an additional 91 shares during the period. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group set a $300.00 target price on shares of Microsoft in a research report on Monday. Royal Bank of Canada reduced their price objective on shares of Microsoft from $380.00 to $310.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Evercore ISI dropped their target price on Microsoft from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Rosenblatt Securities reduced their price target on Microsoft from $300.00 to $285.00 and set a “buy” rating for the company in a research report on Thursday, October 27th. Finally, Stifel Nicolaus dropped their price objective on Microsoft from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. Three analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $300.64.

Insider Activity

In related 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 value of $1,331,250.00. Following the sale, the chief marketing officer now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.03% of the company’s stock.

Microsoft Trading Up 1.0 %

Shares of MSFT stock opened at $247.58 on Friday. The stock has a market capitalization of $1.85 trillion, a PE ratio of 26.68, a P/E/G ratio of 2.36 and a beta of 0.92. Microsoft Co. has a 1-year low of $213.43 and a 1-year high of $344.30. The business has a 50-day moving average of $237.12 and a 200 day moving average of $255.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.84 and a quick ratio of 1.79.

Microsoft (NASDAQ:MSFTGet Rating) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $49.70 billion. During the same quarter in the previous year, the company posted $2.27 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Microsoft Co. will post 9.62 earnings per share for the current year.

Microsoft Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be given a $0.68 dividend. This is a boost from Microsoft’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, November 16th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.10%. Microsoft’s payout ratio is presently 29.31%.

Microsoft Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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