HGK Asset Management Inc. Invests $392,000 in Microsoft Co. (NASDAQ:MSFT)

HGK Asset Management Inc. bought a new position in shares of Microsoft Co. (NASDAQ:MSFTGet Rating) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,683 shares of the software giant’s stock, valued at approximately $392,000.

Several other large investors have also made changes to their positions in the business. Walled Lake Planning & Wealth Management LLC lifted its stake in Microsoft by 0.5% during the 2nd quarter. Walled Lake Planning & Wealth Management LLC now owns 7,369 shares of the software giant’s stock worth $1,893,000 after acquiring an additional 38 shares in the last quarter. Financial Advisors Network Inc. raised its position in Microsoft by 1.1% in the 2nd quarter. Financial Advisors Network Inc. now owns 3,482 shares of the software giant’s stock valued at $894,000 after purchasing an additional 39 shares in the last quarter. Donoghue Forlines LLC raised its position in Microsoft by 1.6% in the 2nd quarter. Donoghue Forlines LLC now owns 2,598 shares of the software giant’s stock valued at $667,000 after purchasing an additional 40 shares in the last quarter. Fountainhead AM LLC raised its position in Microsoft by 1.0% in the 2nd quarter. Fountainhead AM LLC now owns 4,196 shares of the software giant’s stock valued at $1,078,000 after purchasing an additional 41 shares in the last quarter. Finally, Lokken Investment Group LLC raised its position in Microsoft by 0.3% in the 2nd quarter. Lokken Investment Group LLC now owns 11,976 shares of the software giant’s stock valued at $3,076,000 after purchasing an additional 41 shares in the last quarter. 69.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MSFT. 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. Macquarie began coverage on Microsoft in a research report on Wednesday, November 2nd. They issued a “neutral” rating and a $234.00 price target on the stock. UBS Group lowered Microsoft from a “buy” rating to a “neutral” rating and reduced their price target for the company from $300.00 to $250.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price target on Microsoft from $315.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, October 26th. Finally, Oppenheimer dropped their price objective on Microsoft from $275.00 to $265.00 in a report on Wednesday, October 26th. Four equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. According to MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and a consensus price target of $295.66.

Insider Activity

In other news, EVP Judson Althoff sold 24,144 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $254.27, for a total value of $6,139,094.88. Following the completion of the sale, the executive vice president now directly owns 150,047 shares of the company’s stock, valued at approximately $38,152,450.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Microsoft Trading Down 4.4 %

Shares of MSFT stock opened at $229.10 on Thursday. The business’s 50 day moving average is $240.62 and its two-hundred day moving average is $252.09. Microsoft Co. has a twelve month low of $213.43 and a twelve month high of $326.07. The company has a market capitalization of $1.71 trillion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a current ratio of 1.84, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26.

Microsoft (NASDAQ:MSFTGet Rating) last announced its earnings results on Tuesday, October 25th. The software giant reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.06. The company had revenue of $50.12 billion for the quarter, compared to the consensus estimate of $49.70 billion. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $2.27 EPS. Equities analysts forecast that Microsoft Co. will post 9.54 EPS for the current year.

Microsoft Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Wednesday, February 15th will be issued a $0.68 dividend. The ex-dividend date is Wednesday, February 15th. This represents a $2.72 annualized dividend and a dividend yield of 1.19%. Microsoft’s dividend payout ratio is currently 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.

Further Reading

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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