ACT Wealth Management LLC lowered its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 3.0% during the third quarter, Holdings Channel reports. The firm owned 3,852 shares of the software giant’s stock after selling 118 shares during the period. Microsoft makes up approximately 0.6% of ACT Wealth Management LLC’s investment portfolio, making the stock its 14th biggest position. ACT Wealth Management LLC’s holdings in Microsoft were worth $897,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Phoenix Wealth Advisors increased its position in shares of Microsoft by 2.0% in the second quarter. Phoenix Wealth Advisors now owns 17,286 shares of the software giant’s stock worth $4,440,000 after purchasing an additional 343 shares during the period. Jmac Enterprises LLC grew its position in Microsoft by 1.0% in the second quarter. Jmac Enterprises LLC now owns 16,798 shares of the software giant’s stock valued at $4,314,000 after acquiring an additional 169 shares during the last quarter. ARGI Investment Services LLC grew its position in Microsoft by 9.9% in the second quarter. ARGI Investment Services LLC now owns 37,326 shares of the software giant’s stock valued at $9,586,000 after acquiring an additional 3,358 shares during the last quarter. First PREMIER Bank grew its position in Microsoft by 0.3% in the second quarter. First PREMIER Bank now owns 26,082 shares of the software giant’s stock valued at $6,699,000 after acquiring an additional 79 shares during the last quarter. Finally, Seaview Investment Managers LLC grew its position in Microsoft by 4.9% in the second quarter. Seaview Investment Managers LLC now owns 26,839 shares of the software giant’s stock valued at $6,893,000 after acquiring an additional 1,261 shares during the last quarter. Institutional investors own 69.15% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on MSFT. Guggenheim cut Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 target price on the stock. in a research report on Tuesday. DA Davidson started coverage on Microsoft in a research report on Wednesday, January 4th. They issued a “buy” rating and a $270.00 target price on the stock. Jefferies Financial Group set a $270.00 price target on Microsoft in a report on Thursday, January 5th. 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 report on Wednesday, October 26th. Finally, Oppenheimer reduced their price target on Microsoft from $275.00 to $265.00 in a report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $287.88.
Microsoft Price Performance
Shares of MSFT opened at $240.22 on Friday. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $315.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 1.84. The business’s 50 day moving average price is $241.70 and its two-hundred day moving average price is $250.10. The firm has a market cap of $1.79 trillion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 2.35 and a beta of 0.94.
Microsoft (NASDAQ:MSFT – Get Rating) last released its quarterly earnings data 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 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 in the previous year, the company posted $2.27 earnings per share. On average, equities analysts anticipate that Microsoft Co. will post 9.52 EPS for the current year.
Microsoft Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Wednesday, February 15th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $2.72 annualized dividend and a dividend yield of 1.13%. Microsoft’s dividend payout ratio is 29.31%.
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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