Highstreet Asset Management Inc. lowered its stake in Microsoft Co. (NASDAQ:MSFT) by 24.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,110 shares of the software giant’s stock after selling 22,443 shares during the period. Highstreet Asset Management Inc.’s holdings in Microsoft were worth $5,148,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. New Capital Management LP grew its stake in shares of Microsoft by 0.5% in the 1st quarter. New Capital Management LP now owns 4,305 shares of the software giant’s stock valued at $284,000 after purchasing an additional 22 shares during the period. Nottingham Advisors Inc. grew its stake in shares of Microsoft by 0.4% in the 2nd quarter. Nottingham Advisors Inc. now owns 5,399 shares of the software giant’s stock valued at $372,000 after purchasing an additional 22 shares during the period. American Economic Planning Group Inc. ADV grew its stake in shares of Microsoft by 0.5% in the 2nd quarter. American Economic Planning Group Inc. ADV now owns 4,939 shares of the software giant’s stock valued at $340,000 after purchasing an additional 23 shares during the period. Carderock Capital Management Inc. grew its stake in shares of Microsoft by 0.7% in the 2nd quarter. Carderock Capital Management Inc. now owns 3,981 shares of the software giant’s stock valued at $274,000 after purchasing an additional 26 shares during the period. Finally, Appropriate Balance Financial Services Inc. grew its stake in shares of Microsoft by 4.7% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 643 shares of the software giant’s stock valued at $9,331,000 after purchasing an additional 29 shares during the period. 73.16% of the stock is owned by institutional investors and hedge funds.
Microsoft Co. (NASDAQ:MSFT) traded up $1.52 during mid-day trading on Friday, reaching $89.60. The company’s stock had a trading volume of 24,260,921 shares, compared to its average volume of 23,290,000. The company has a market cap of $691,070.00, a PE ratio of 30.27, a PEG ratio of 2.05 and a beta of 0.99. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.06 and a current ratio of 3.12. Microsoft Co. has a 52-week low of $62.03 and a 52-week high of $89.78.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Thursday, October 26th. The software giant reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. The company had revenue of $24.50 billion during the quarter, compared to analysts’ expectations of $23.57 billion. Microsoft had a return on equity of 35.23% and a net margin of 24.56%. Microsoft’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS. equities analysts expect that Microsoft Co. will post 3.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Wednesday, February 14th. Microsoft’s payout ratio is 56.76%.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Microsoft from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays set a $95.00 price target on Microsoft and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Co restated an “outperform” rating and set a $100.00 price target (up from $90.00) on shares of Microsoft in a research report on Friday. Credit Suisse Group restated a “buy” rating and set a $95.00 price target on shares of Microsoft in a research report on Friday, October 27th. Finally, Morgan Stanley set a $88.00 price objective on Microsoft and gave the company a “buy” rating in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirty-one have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $86.97.
In related news, EVP Christopher C. Capossela sold 4,000 shares of Microsoft stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $83.46, for a total transaction of $333,840.00. Following the completion of the transaction, the executive vice president now owns 189,278 shares in the company, valued at $15,797,141.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frank H. Brod sold 15,000 shares of Microsoft stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $84.08, for a total value of $1,261,200.00. Following the transaction, the insider now owns 116,205 shares of the company’s stock, valued at approximately $9,770,516.40. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock valued at $3,759,420 in the last 90 days. 1.49% of the stock is owned by corporate insiders.
Microsoft Company Profile
Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.