Spectrum Asset Management Inc. NB CA trimmed its stake in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,545 shares of the software giant’s stock after selling 213 shares during the period. Microsoft comprises about 1.5% of Spectrum Asset Management Inc. NB CA’s holdings, making the stock its 20th biggest position. Spectrum Asset Management Inc. NB CA’s holdings in Microsoft were worth $2,922,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Benedetti & Gucer Inc. lifted its position in shares of Microsoft by 38.3% during the 3rd quarter. Benedetti & Gucer Inc. now owns 3,345 shares of the software giant’s stock valued at $906,000 after acquiring an additional 926 shares during the period. Fifth Third Bancorp raised its position in shares of Microsoft by 0.6% during the 3rd quarter. Fifth Third Bancorp now owns 2,954,768 shares of the software giant’s stock worth $688,166,000 after purchasing an additional 17,217 shares during the last quarter. Rovin Capital UT ADV raised its position in shares of Microsoft by 1.1% during the 3rd quarter. Rovin Capital UT ADV now owns 3,747 shares of the software giant’s stock worth $873,000 after purchasing an additional 40 shares during the last quarter. Sowa Financial Group Inc. acquired a new position in shares of Microsoft during the 3rd quarter worth approximately $2,442,000. Finally, Dearborn Partners LLC raised its position in shares of Microsoft by 1.7% during the 3rd quarter. Dearborn Partners LLC now owns 269,086 shares of the software giant’s stock worth $62,670,000 after purchasing an additional 4,431 shares during the last quarter. 69.15% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
MSFT has been the subject of several research reports. Stifel Nicolaus cut their price objective on Microsoft from $300.00 to $290.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Credit Suisse Group set a $365.00 price objective on Microsoft in a research report on Friday, December 9th. Mizuho cut their price objective on Microsoft from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Friday, January 20th. Guggenheim cut shares of Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 target price for the company. in a research note on Tuesday, January 17th. Finally, Rosenblatt Securities lowered their target price on shares of Microsoft from $300.00 to $285.00 and set a “buy” rating for the company in a research note on Thursday, October 27th. One research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $287.79.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The software giant reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.02. Microsoft had a net margin of 34.37% and a return on equity of 42.10%. The firm had revenue of $52.75 billion for the quarter, compared to analyst estimates of $53.17 billion. During the same quarter in the previous year, the business posted $2.48 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that Microsoft Co. will post 9.51 earnings per share for the current fiscal year.
Microsoft Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Wednesday, February 15th will be paid a $0.68 dividend. The ex-dividend date is Wednesday, February 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.12%. Microsoft’s dividend payout ratio (DPR) is presently 29.31%.
In other news, EVP Judson Althoff sold 24,144 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $254.27, for a total value of $6,139,094.88. Following the sale, the executive vice president now owns 150,047 shares in the company, valued at approximately $38,152,450.69. The sale 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 Company Profile
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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