Newport Wealth Strategies Inc. reduced its position in Microsoft Co. (NASDAQ:MSFT) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,647 shares of the software giant’s stock after selling 539 shares during the period. Microsoft comprises approximately 1.6% of Newport Wealth Strategies Inc.’s holdings, making the stock its 20th largest position. Newport Wealth Strategies Inc.’s holdings in Microsoft were worth $1,758,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Microsoft by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 613,005,516 shares of the software giant’s stock valued at $82,118,218,000 after acquiring an additional 7,724,483 shares during the last quarter. Northern Trust Corp increased its stake in shares of Microsoft by 0.4% in the 2nd quarter. Northern Trust Corp now owns 96,567,563 shares of the software giant’s stock valued at $12,936,190,000 after acquiring an additional 385,074 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Microsoft by 2,651.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 67,353,275 shares of the software giant’s stock valued at $9,022,645,000 after acquiring an additional 64,905,685 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Microsoft by 0.7% in the 2nd quarter. Janus Henderson Group PLC now owns 52,986,086 shares of the software giant’s stock valued at $7,097,675,000 after acquiring an additional 342,648 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Microsoft by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,368,268 shares of the software giant’s stock valued at $4,603,974,000 after acquiring an additional 782,124 shares during the last quarter. 72.16% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. BMO Capital Markets upped their price target on Microsoft from $147.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Oppenheimer increased their target price on Microsoft from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Jefferies Financial Group raised Microsoft from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Monday, October 7th. Wells Fargo & Co set a $160.00 target price on Microsoft and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Citigroup increased their target price on Microsoft from $147.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Three research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $151.52.
Shares of MSFT opened at $139.68 on Friday. The stock has a market capitalization of $1,066.51 billion, a P/E ratio of 29.41, a P/E/G ratio of 2.22 and a beta of 1.22. Microsoft Co. has a twelve month low of $93.96 and a twelve month high of $142.37. The company has a 50 day moving average of $137.45 and a 200-day moving average of $132.03. The company has a quick ratio of 2.50, a current ratio of 2.53 and a debt-to-equity ratio of 0.71.
Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, July 18th. The software giant reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.16. The company had revenue of $33.72 billion during the quarter, compared to analysts’ expectations of $32.80 billion. Microsoft had a net margin of 31.18% and a return on equity of 39.26%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS. On average, sell-side analysts anticipate that Microsoft Co. will post 5.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s dividend payout ratio is presently 38.74%.
Microsoft announced that its board has approved a stock repurchase plan on Wednesday, September 18th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the software giant to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, insider Frank H. Brod sold 4,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $141.05, for a total value of $564,200.00. Following the completion of the sale, the insider now owns 64,152 shares of the company’s stock, valued at approximately $9,048,639.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amy Hood sold 123,769 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $137.26, for a total value of $16,988,532.94. Following the completion of the sale, the chief financial officer now directly owns 433,940 shares of the company’s stock, valued at approximately $59,562,604.40. The disclosure for this sale can be found here. In the last three months, insiders sold 318,757 shares of company stock valued at $43,735,918. 1.38% of the stock is currently owned by insiders.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.
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