Wells Trecaso Financial Group LLC lifted its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,873 shares of the software giant’s stock after buying an additional 235 shares during the period. Microsoft comprises approximately 6.2% of Wells Trecaso Financial Group LLC’s holdings, making the stock its 2nd largest holding. Wells Trecaso Financial Group LLC’s holdings in Microsoft were worth $11,383,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in 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 buying an additional 5,648,095 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Microsoft by 0.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 195,859,819 shares of the software giant’s stock worth $50,302,677,000 after acquiring an additional 556,020 shares in the last quarter. Legal & General Group Plc grew its position in Microsoft by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 54,799,110 shares of the software giant’s stock worth $14,074,064,000 after acquiring an additional 784,656 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Microsoft by 2.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 40,130,443 shares of the software giant’s stock valued at $10,306,701,000 after purchasing an additional 939,396 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Microsoft by 2.0% in the 1st 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 purchasing an additional 766,487 shares during the last quarter. Institutional investors own 69.15% of the company’s stock.
Insider Transactions at Microsoft
In related news, EVP Judson Althoff sold 24,144 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $254.27, for a total transaction of $6,139,094.88. Following the sale, the executive vice president now owns 150,047 shares in the company, valued at $38,152,450.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.03% of the company’s stock.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Rating) last released its earnings results on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, beating the consensus estimate of $2.29 by $0.06. The firm had revenue of $50.12 billion for 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 business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.27 EPS. Equities analysts expect that Microsoft Co. will post 9.52 EPS for the current fiscal year.
Microsoft Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders 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 yield of 1.17%. Microsoft’s payout ratio is currently 29.31%.
Analyst Ratings Changes
Several analysts have recently commented on MSFT shares. Credit Suisse Group set a $365.00 target price on Microsoft in a report on Friday, December 9th. Oppenheimer decreased their price objective on shares of Microsoft from $275.00 to $265.00 in a report on Wednesday, October 26th. Wells Fargo & Company dropped their target price on shares of Microsoft from $315.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, October 26th. UBS Group set a $250.00 price target on shares of Microsoft in a research note on Thursday. Finally, Wedbush dropped their price objective on shares of Microsoft from $320.00 to $290.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $288.33.
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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