Ferguson Shapiro LLC grew its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,241 shares of the software giant’s stock after buying an additional 49 shares during the quarter. Microsoft accounts for approximately 0.5% of Ferguson Shapiro LLC’s portfolio, making the stock its 27th largest holding. Ferguson Shapiro LLC’s holdings in Microsoft were worth $755,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of MSFT. Monumental Financial Group Inc. purchased a new stake in shares of Microsoft during the first quarter worth about $28,000. Newfound Research LLC boosted its holdings in shares of Microsoft by 25.4% during the second quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock worth $76,000 after purchasing an additional 60 shares during the period. Darrow Company Inc. purchased a new stake in Microsoft in the second quarter worth about $82,000. Morgan Dempsey Capital Management LLC purchased a new stake in Microsoft in the third quarter worth about $82,000. Finally, Avondale Wealth Management lifted its holdings in Microsoft by 58.6% in the third quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock worth $95,000 after buying an additional 150 shares during the period. 69.15% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Judson Althoff sold 24,144 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $254.27, for a total transaction of $6,139,094.88. Following the completion of the sale, the executive vice president now owns 150,047 shares of the company’s stock, valued at approximately $38,152,450.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.
Microsoft Trading Up 1.0 %
Microsoft (NASDAQ:MSFT – Get Rating) last posted its earnings results on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.06. Microsoft had a net margin of 34.37% and a return on equity of 42.10%. The business had revenue of $50.12 billion during the quarter, compared to the consensus estimate of $49.70 billion. During the same quarter in the previous year, the firm posted $2.27 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. Research analysts forecast that Microsoft Co. will post 9.51 earnings per share for the current year.
Microsoft Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Wednesday, February 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Wednesday, February 15th. Microsoft’s payout ratio is 29.31%.
Analysts Set New Price Targets
Several analysts have commented on MSFT shares. Wells Fargo & Company lowered their price objective on shares of Microsoft from $315.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Evercore ISI lowered their price objective on shares of Microsoft from $300.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, January 19th. Guggenheim lowered shares of Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 price objective for the company. in a report on Tuesday, January 17th. Cowen lowered their price objective on shares of Microsoft from $310.00 to $285.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Finally, Piper Sandler lowered their price objective on shares of Microsoft from $265.00 to $247.00 and set an “overweight” rating for the company in a report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $287.79.
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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