Bank of The West Boosts Stake in Microsoft Corporation (NASDAQ:MSFT)
Bank of The West increased its holdings in shares of Microsoft Corporation (NASDAQ:MSFT) by 19.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,876 shares of the software giant’s stock after purchasing an additional 13,672 shares during the quarter. Bank of The West’s holdings in Microsoft Corporation were worth $5,782,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Hefty Wealth Partners lifted its stake in Microsoft Corporation by 65.6% in the second quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock valued at $113,000 after acquiring an additional 653 shares during the last quarter. Asset Planning Services Ltd. lifted its stake in shares of Microsoft Corporation by 93.0% during the 1st quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after buying an additional 837 shares during the last quarter. Ullmann Financial Group Inc. acquired a new stake in shares of Microsoft Corporation during the 1st quarter worth about $132,000. Arcus Capital Partners LLC acquired a new stake in shares of Microsoft Corporation during the 1st quarter worth about $205,000. Finally, Towercrest Capital Management acquired a new stake in shares of Microsoft Corporation during the 1st quarter worth about $209,000. Institutional investors and hedge funds own 73.40% of the company’s stock.
A number of research firms recently commented on MSFT. Stifel Nicolaus reaffirmed a “buy” rating on shares of Microsoft Corporation in a research report on Thursday. Canaccord Genuity raised shares of Microsoft Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $76.00 to $86.00 in a report on Thursday, October 5th. ValuEngine lowered shares of Microsoft Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Oppenheimer Holdings, Inc. set a $80.00 target price on shares of Microsoft Corporation and gave the company a “buy” rating in a report on Monday, September 25th. Finally, Royal Bank Of Canada set a $77.00 price target on shares of Microsoft Corporation and gave the company a “buy” rating in a research note on Monday, September 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $77.44.
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Shares of Microsoft Corporation (MSFT) traded up 0.48% on Friday, reaching $77.49. The company had a trading volume of 15,335,742 shares. Microsoft Corporation has a 52 week low of $56.66 and a 52 week high of $77.87. The company has a market capitalization of $596.85 billion, a P/E ratio of 28.59 and a beta of 1.01. The company has a 50 day moving average of $74.67 and a 200-day moving average of $71.06.
Microsoft Corporation (NASDAQ:MSFT) last posted its earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.27. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. The business had revenue of $24.70 billion during the quarter, compared to the consensus estimate of $24.29 billion. During the same period in the previous year, the business earned $0.69 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts predict that Microsoft Corporation will post $3.20 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be given a dividend of $0.42 per share. This is a boost from Microsoft Corporation’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, November 15th. This represents a $1.68 annualized dividend and a yield of 2.17%. Microsoft Corporation’s payout ratio is presently 57.78%.
In related news, insider G Mason Morfit sold 7,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $72.56, for a total value of $507,920,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jean Philippe Courtois sold 26,763 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $74.00, for a total value of $1,980,462.00. Following the completion of the sale, the insider now directly owns 544,080 shares in the company, valued at approximately $40,261,920. The disclosure for this sale can be found here. Insiders have sold a total of 7,108,526 shares of company stock worth $515,879,974 in the last quarter. 2.99% of the stock is currently owned by insiders.
Microsoft Corporation 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.
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