Microsoft Corporation (MSFT) Shares Bought by Pennsylvania Trust Co
Pennsylvania Trust Co boosted its holdings in Microsoft Corporation (NASDAQ:MSFT) by 23.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 462,423 shares of the software giant’s stock after purchasing an additional 89,280 shares during the quarter. Microsoft Corporation comprises approximately 1.6% of Pennsylvania Trust Co’s investment portfolio, making the stock its 7th largest holding. Pennsylvania Trust Co’s holdings in Microsoft Corporation were worth $31,875,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Hefty Wealth Partners lifted its stake in shares of 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 buying an additional 653 shares in the last quarter. Asset Planning Services Ltd. increased its position in shares of Microsoft Corporation by 93.0% during the first quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after acquiring an additional 837 shares in the last quarter. Ullmann Financial Group Inc. bought a new stake in shares of Microsoft Corporation during the first quarter worth about $132,000. Arcus Capital Partners LLC bought a new stake in shares of Microsoft Corporation during the first quarter worth about $205,000. Finally, Schneider Downs Wealth Management Advisors LP bought a new stake in shares of Microsoft Corporation during the first quarter worth about $209,000. 73.40% of the stock is owned by institutional investors and hedge funds.
Shares of Microsoft Corporation (NASDAQ MSFT) traded down 0.18% during midday trading on Wednesday, reaching $74.13. The company had a trading volume of 5,977,808 shares. Microsoft Corporation has a 52 week low of $56.32 and a 52 week high of $75.97. The firm has a market capitalization of $570.97 billion, a price-to-earnings ratio of 27.35 and a beta of 1.01. The stock has a 50-day moving average of $73.88 and a 200 day moving average of $70.49.
Microsoft Corporation (NASDAQ:MSFT) last posted its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.27. The firm had revenue of $24.70 billion for the quarter, compared to analysts’ expectations of $24.29 billion. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. On average, analysts anticipate that Microsoft Corporation will post $3.20 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.26%. This is a positive change from Microsoft Corporation’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, November 15th. Microsoft Corporation’s dividend payout ratio (DPR) is presently 57.78%.
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In other Microsoft Corporation news, CFO Amy Hood sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $72.71, for a total transaction of $3,999,050.00. Following the sale, the chief financial officer now owns 510,217 shares of the company’s stock, valued at approximately $37,097,878.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction of $1,980,462.00. Following the transaction, the insider now owns 544,080 shares in the company, valued at approximately $40,261,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,108,526 shares of company stock worth $515,879,974. 2.99% of the stock is currently owned by corporate insiders.
Several equities analysts recently weighed in on the stock. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $88.00 price target (up previously from $78.00) on shares of Microsoft Corporation in a research report on Tuesday, July 18th. Bank of America Corporation reissued a “buy” rating and set a $75.00 price objective on shares of Microsoft Corporation in a report on Friday, June 16th. Vetr raised Microsoft Corporation from a “hold” rating to a “buy” rating and set a $74.61 price objective for the company in a research note on Monday, June 12th. Stifel Nicolaus restated a “buy” rating and issued a $73.00 target price on shares of Microsoft Corporation in a report on Monday, July 17th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Microsoft Corporation in a research report on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-nine have issued a buy rating to the company. Microsoft Corporation has an average rating of “Buy” and an average target price of $76.72.
About Microsoft Corporation
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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