FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its position in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,036 shares of the software giant’s stock after selling 206 shares during the period. Microsoft makes up 4.9% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 3rd largest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Microsoft were worth $15,846,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Microsoft by 0.9% during the first quarter. Vanguard Group Inc. now owns 621,598,157 shares of the software giant’s stock worth $191,644,927,000 after purchasing an additional 5,648,095 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Microsoft by 0.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 195,859,819 shares of the software giant’s stock valued at $50,302,677,000 after buying an additional 556,020 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Microsoft by 1.5% in the second quarter. Legal & General Group Plc now owns 54,799,110 shares of the software giant’s stock worth $14,074,064,000 after buying an additional 784,656 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Microsoft by 2.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 40,130,443 shares of the software giant’s stock worth $10,306,701,000 after acquiring an additional 939,396 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Microsoft by 2.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 39,863,273 shares of the software giant’s stock valued at $12,290,246,000 after acquiring an additional 766,487 shares during the period. 69.15% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on MSFT. Morgan Stanley lowered their price objective on shares of Microsoft from $325.00 to $307.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Raymond James dropped their price target on Microsoft from $300.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Barclays set a $296.00 price objective on Microsoft in a research report on Tuesday, November 1st. Wolfe Research dropped 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, Stifel Nicolaus decreased their price target on shares of Microsoft from $300.00 to $290.00 and set a “buy” rating for the company 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 currently has an average rating of “Moderate Buy” and an average price target of $294.88.
Microsoft Stock Up 1.2 %
Microsoft (NASDAQ:MSFT – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.06. The company had revenue of $50.12 billion during 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 quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $2.27 EPS. On average, equities research analysts expect that Microsoft Co. will post 9.53 earnings per share for the current year.
Microsoft Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Wednesday, February 15th will be paid a $0.68 dividend. The ex-dividend date is Wednesday, February 15th. This represents a $2.72 annualized dividend and a dividend yield of 1.21%. Microsoft’s dividend payout ratio is currently 29.31%.
Insider Buying and Selling
In other Microsoft news, EVP Judson Althoff sold 24,144 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 150,047 shares in the company, valued at $38,152,450.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.03% of the stock is owned by corporate 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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