Fort Washington Investment Advisors Inc. OH lowered its holdings in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,394,119 shares of the software giant’s stock after selling 118,688 shares during the period. Microsoft comprises about 4.7% of Fort Washington Investment Advisors Inc. OH’s portfolio, making the stock its largest holding. Fort Washington Investment Advisors Inc. OH’s holdings in Microsoft were worth $557,590,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Monumental Financial Group Inc. bought a new stake in Microsoft during the first quarter worth $28,000. Newfound Research LLC increased its position in 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 buying an additional 60 shares during 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 position in shares of Microsoft during the 3rd quarter worth approximately $82,000. Finally, Avondale Wealth Management raised its stake in 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 acquiring an additional 150 shares during the period. 69.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity 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 value of $6,139,094.88. Following the transaction, the executive vice president now directly owns 150,047 shares of the company’s stock, valued at approximately $38,152,450.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is owned by company insiders.
Microsoft Stock Down 0.2 %
Microsoft (NASDAQ:MSFT – Get Rating) last announced its earnings results on Tuesday, January 24th. The software giant reported $2.32 EPS for the quarter, beating the consensus estimate of $2.30 by $0.02. The business had revenue of $52.75 billion for the quarter, compared to analysts’ expectations of $53.17 billion. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.48 earnings per share. On average, analysts anticipate that Microsoft Co. will post 9.51 EPS for the current year.
Microsoft Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Investors of record on Wednesday, February 15th will be paid 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 is Wednesday, February 15th. Microsoft’s dividend payout ratio is presently 29.31%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on MSFT shares. Wolfe Research cut their target price on shares of Microsoft from $340.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Morgan Stanley cut their price objective on shares of Microsoft from $325.00 to $307.00 and set an “overweight” rating for the company in a research report on Wednesday, October 26th. Piper Sandler lowered their target price on Microsoft from $265.00 to $247.00 and set an “overweight” rating on the stock in a research note on Monday, January 9th. Credit Suisse Group set a $365.00 target price on shares of Microsoft in a research report on Friday, December 9th. Finally, Rosenblatt Securities cut their price objective on shares of Microsoft from $300.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, October 27th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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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