Canvas Wealth Advisors LLC bought a new position in shares of Microsoft Co. (NASDAQ:MSFT) during the first quarter, HoldingsChannel.com reports. The firm bought 50,115 shares of the software giant’s stock, valued at approximately $12,825,000. Microsoft comprises about 7.5% of Canvas Wealth Advisors LLC’s portfolio, making the stock its 2nd biggest position.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MSFT. OLD Mission Capital LLC purchased a new position in Microsoft during the third quarter worth approximately $1,254,000. NuWave Investment Management LLC raised its stake in Microsoft by 3,250.0% during the fourth quarter. NuWave Investment Management LLC now owns 134 shares of the software giant’s stock worth $30,000 after purchasing an additional 130 shares during the period. MADDEN SECURITIES Corp raised its stake in Microsoft by 1.7% during the fourth quarter. MADDEN SECURITIES Corp now owns 23,119 shares of the software giant’s stock worth $5,142,000 after purchasing an additional 380 shares during the period. Chickasaw Capital Management LLC raised its stake in Microsoft by 9.0% during the fourth quarter. Chickasaw Capital Management LLC now owns 17,371 shares of the software giant’s stock worth $3,864,000 after purchasing an additional 1,430 shares during the period. Finally, Baldwin Brothers Inc. MA raised its stake in Microsoft by 1.2% during the fourth quarter. Baldwin Brothers Inc. MA now owns 190,495 shares of the software giant’s stock worth $42,369,000 after purchasing an additional 2,273 shares during the period. Hedge funds and other institutional investors own 69.01% of the company’s stock.
A number of equities analysts have weighed in on MSFT shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Microsoft from $292.00 to $302.00 and gave the stock a “buy” rating in a research note on Tuesday, April 27th. Cowen raised their target price on shares of Microsoft from $280.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $340.00 target price on shares of Microsoft in a research note on Wednesday, April 28th. Jefferies Financial Group set a $300.00 target price on shares of Microsoft and gave the company a “buy” rating in a research note on Monday, April 12th. Finally, Raymond James raised their target price on shares of Microsoft from $275.00 to $290.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 4th. Two investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $286.80.
Shares of NASDAQ:MSFT opened at $239.00 on Thursday. The company has a quick ratio of 2.49, a current ratio of 2.53 and a debt-to-equity ratio of 0.46. Microsoft Co. has a fifty-two week low of $175.68 and a fifty-two week high of $263.19. The firm has a 50-day simple moving average of $250.37 and a 200 day simple moving average of $230.52. The company has a market cap of $1.80 trillion, a PE ratio of 38.61, a P/E/G ratio of 2.44 and a beta of 0.83.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Tuesday, April 27th. The software giant reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. Microsoft had a net margin of 32.28% and a return on equity of 40.74%. The business had revenue of $41.71 billion during the quarter, compared to the consensus estimate of $40.83 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. As a group, research analysts forecast that Microsoft Co. will post 6.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Thursday, May 20th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, May 19th. Microsoft’s payout ratio is 38.89%.
Microsoft Company Profile
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for small and medium businesses, large organizations, and divisions of enterprises.
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