McKinley Carter Wealth Services Inc. raised its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,102 shares of the software giant’s stock after acquiring an additional 298 shares during the quarter. Microsoft makes up approximately 0.9% of McKinley Carter Wealth Services Inc.’s holdings, making the stock its 23rd biggest position. McKinley Carter Wealth Services Inc.’s holdings in Microsoft were worth $9,805,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Monumental Financial Group Inc. bought a new position in shares of Microsoft during the 1st quarter worth approximately $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 in the last quarter. Darrow Company Inc. bought a new position in shares of Microsoft during the 2nd quarter worth approximately $82,000. Morgan Dempsey Capital Management LLC acquired a new stake in shares of Microsoft in the 3rd quarter valued at approximately $82,000. Finally, Avondale Wealth Management boosted its holdings in shares of Microsoft by 58.6% in the 3rd quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock valued at $95,000 after buying an additional 150 shares during the last quarter. 69.15% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on MSFT. Credit Suisse Group set a $365.00 price objective on Microsoft in a report on Friday, December 9th. Macquarie began coverage on Microsoft in a report on Wednesday, November 2nd. They issued a “neutral” rating and a $234.00 price objective for the company. Stifel Nicolaus cut their price objective on Microsoft from $300.00 to $290.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Jefferies Financial Group set a $270.00 price objective on Microsoft in a report on Thursday, January 5th. Finally, Guggenheim downgraded Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 price objective for the company. in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, Microsoft has a consensus rating of “Moderate Buy” and an average target price of $287.88.
Microsoft Stock Up 3.6 %
Microsoft (NASDAQ:MSFT – Get Rating) last released its earnings results on Tuesday, October 25th. The software giant reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.06. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The firm had revenue of $50.12 billion for the quarter, compared to analysts’ expectations of $49.70 billion. During the same quarter in the previous year, the business posted $2.27 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts forecast that Microsoft Co. will post 9.52 earnings per share for the current fiscal year.
Microsoft Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Wednesday, February 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, February 15th. Microsoft’s dividend payout ratio is presently 29.31%.
Insider Buying and Selling at Microsoft
In other news, EVP Judson Althoff sold 24,144 shares of the business’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 directly owns 150,047 shares in the company, valued at $38,152,450.69. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.03% of the company’s stock.
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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