Conrad Siegel Investment Advisors Inc. trimmed its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,726 shares of the software giant’s stock after selling 922 shares during the period. Microsoft comprises 1.0% of Conrad Siegel Investment Advisors Inc.’s holdings, making the stock its 15th largest position. Conrad Siegel Investment Advisors Inc.’s holdings in Microsoft were worth $868,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of MSFT. Monumental Financial Group Inc. bought a new position in shares of Microsoft in the 1st quarter valued at about $28,000. Newfound Research LLC lifted its stake in Microsoft by 25.4% in the 2nd quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock valued at $76,000 after purchasing an additional 60 shares during the last quarter. Grayhawk Investment Strategies Inc. bought a new position in Microsoft during the second quarter worth about $104,000. Darrow Company Inc. acquired a new position in Microsoft during the second quarter worth approximately $82,000. Finally, Morgan Dempsey Capital Management LLC acquired a new position in Microsoft during the third quarter worth approximately $82,000. Institutional investors own 69.15% of the company’s stock.
Analyst Upgrades and Downgrades
MSFT has been the subject of several research analyst reports. DA Davidson assumed coverage on Microsoft in a research note on Wednesday, January 4th. They set a “buy” rating and a $270.00 target price for the company. Royal Bank of Canada set a $285.00 price target on shares of Microsoft in a research note on Wednesday, January 18th. Jefferies Financial Group set a $270.00 target price on shares of Microsoft in a research report on Thursday, January 5th. Citigroup dropped their price objective on shares of Microsoft from $282.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, January 19th. Finally, StockNews.com lowered shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Thursday, January 19th. One equities 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.79.
Microsoft Trading Down 0.2 %
Microsoft (NASDAQ:MSFT – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The software giant reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.02. Microsoft had a net margin of 34.37% and a return on equity of 42.10%. The company had revenue of $52.75 billion for the quarter, compared to analysts’ expectations of $53.17 billion. During the same quarter in the previous year, the firm posted $2.48 earnings per share. Microsoft’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts predict that Microsoft Co. will post 9.51 earnings per share for the current year.
Microsoft Dividend Announcement
The company 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 dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, February 15th. Microsoft’s dividend payout ratio is presently 29.31%.
Insiders Place Their Bets
In other news, EVP Judson Althoff sold 24,144 shares of the 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 directly owns 150,047 shares in the company, valued at $38,152,450.69. The transaction was disclosed in a filing with the SEC, which is available at this link. 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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