Financial Management Network Inc. decreased its position in Microsoft Co. (NASDAQ:MSFT) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,742 shares of the software giant’s stock after selling 954 shares during the period. Microsoft comprises approximately 2.0% of Financial Management Network Inc.’s holdings, making the stock its 11th largest holding. Financial Management Network Inc.’s holdings in Microsoft were worth $3,890,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MSFT. Palisades Hudson Asset Management L.P. grew its position in Microsoft by 0.3% during the 2nd quarter. Palisades Hudson Asset Management L.P. now owns 10,735 shares of the software giant’s stock worth $2,908,000 after acquiring an additional 36 shares during the last quarter. Johnson Midwest Financial LLC grew its position in Microsoft by 4.0% during the 3rd quarter. Johnson Midwest Financial LLC now owns 941 shares of the software giant’s stock worth $265,000 after acquiring an additional 36 shares during the last quarter. Family Firm Inc. grew its position in Microsoft by 1.2% during the 2nd quarter. Family Firm Inc. now owns 3,153 shares of the software giant’s stock worth $854,000 after acquiring an additional 38 shares during the last quarter. Hudock Inc. grew its position in Microsoft by 0.3% during the 2nd quarter. Hudock Inc. now owns 12,123 shares of the software giant’s stock worth $3,284,000 after acquiring an additional 38 shares during the last quarter. Finally, Well Done LLC grew its position in Microsoft by 0.4% during the 2nd quarter. Well Done LLC now owns 11,014 shares of the software giant’s stock worth $2,984,000 after acquiring an additional 39 shares during the last quarter. 69.05% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ MSFT opened at $337.91 on Thursday. The stock has a market capitalization of $2.54 trillion, a price-to-earnings ratio of 37.80, a PEG ratio of 3.11 and a beta of 0.86. The business has a 50-day moving average of $313.32 and a 200-day moving average of $288.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.16 and a quick ratio of 2.12. Microsoft Co. has a fifty-two week low of $209.11 and a fifty-two week high of $349.67.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 9th. Shareholders of record on Thursday, November 18th will be given a dividend of $0.62 per share. The ex-dividend date is Wednesday, November 17th. This is an increase from Microsoft’s previous quarterly dividend of $0.56. This represents a $2.48 annualized dividend and a yield of 0.73%. Microsoft’s dividend payout ratio (DPR) is 27.74%.
Microsoft declared that its board has initiated a share buyback program on Tuesday, September 14th that authorizes the company to buyback $60.00 billion in outstanding shares. This buyback authorization authorizes the software giant to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have commented on MSFT shares. Sanford C. Bernstein increased their price objective on Microsoft from $298.00 to $333.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Wells Fargo & Company started coverage on Microsoft in a research report on Monday. They issued an “overweight” rating and a $400.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Microsoft from $310.00 to $320.00 and gave the company an “overweight” rating in a research report on Wednesday, October 27th. Jefferies Financial Group set a $375.00 price objective on Microsoft in a research report on Wednesday, October 27th. Finally, Tigress Financial reiterated a “buy” rating and issued a $366.00 price objective (up from $303.00) on shares of Microsoft in a research report on Friday, September 17th. One research analyst has rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $347.85.
In other Microsoft news, CMO Christopher C. Capossela sold 10,000 shares of the business’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $298.82, for a total transaction of $2,988,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Amy Hood sold 60,000 shares of the business’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $303.08, for a total transaction of $18,184,800.00. The disclosure for this sale can be found here. Insiders have sold 694,622 shares of company stock valued at $230,826,252 over the last 90 days. Company insiders own 0.05% of the company’s stock.
Microsoft Company Profile
Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment comprises products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform.
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