Parsons Capital Management Inc. RI lowered its stake in Microsoft Co. (NASDAQ:MSFT) by 2.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 169,915 shares of the software giant’s stock after selling 3,460 shares during the quarter. Microsoft makes up about 1.6% of Parsons Capital Management Inc. RI’s holdings, making the stock its 8th biggest position. Parsons Capital Management Inc. RI’s holdings in Microsoft were worth $14,535,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of MSFT. BP PLC lifted its stake in shares of Microsoft by 1.7% during the 3rd quarter. BP PLC now owns 874,000 shares of the software giant’s stock worth $65,061,000 after purchasing an additional 15,000 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Microsoft by 11.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 15,486,858 shares of the software giant’s stock worth $1,153,616,000 after purchasing an additional 1,555,100 shares during the period. Hardman Johnston Global Advisors LLC lifted its stake in shares of Microsoft by 0.5% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 426,992 shares of the software giant’s stock worth $31,807,000 after purchasing an additional 1,980 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Microsoft during the 3rd quarter worth $550,000. Finally, FineMark National Bank & Trust lifted its stake in shares of Microsoft by 0.3% during the 3rd quarter. FineMark National Bank & Trust now owns 334,602 shares of the software giant’s stock worth $24,925,000 after purchasing an additional 1,009 shares during the period. 73.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Microsoft opened at $96.18 on Friday, according to Marketbeat Ratings. Microsoft Co. has a 12-month low of $96.62 and a 12-month high of $97.37. The firm has a market capitalization of $749.34 billion, a P/E ratio of 29.06, a P/E/G ratio of 2.14 and a beta of 1.04. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.40 and a quick ratio of 3.35.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Thursday, April 26th. The software giant reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.10. The firm had revenue of $26.82 billion during the quarter, compared to the consensus estimate of $25.78 billion. Microsoft had a return on equity of 36.49% and a net margin of 13.72%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS. analysts forecast that Microsoft Co. will post 3.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 17th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $1.68 dividend on an annualized basis and a yield of 1.75%. Microsoft’s payout ratio is currently 50.76%.
A number of brokerages have weighed in on MSFT. MED reissued a “buy” rating on shares of Microsoft in a research note on Tuesday, May 8th. Evercore ISI increased their price target on Microsoft from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Tuesday. Credit Suisse Group set a $115.00 price target on Microsoft and gave the stock a “buy” rating in a research note on Monday, April 30th. DZ Bank reissued a “buy” rating on shares of Microsoft in a research note on Thursday, May 3rd. Finally, Macquarie reissued a “neutral” rating and set a $100.00 price target on shares of Microsoft in a research note on Monday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $103.13.
In other Microsoft news, EVP Christopher C. Capossela sold 3,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $93.00, for a total value of $325,500.00. Following the completion of the transaction, the executive vice president now directly owns 171,278 shares of the company’s stock, valued at approximately $15,928,854. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.49% of the company’s stock.
Microsoft Corporation develops, licenses, and supports software products, services, and devices worldwide. The company's Productivity and Business Processes segment offers Office 365 commercial products and services for businesses, including Office, Exchange, SharePoint, Skype for Business, and related Client Access Licenses (CALs); Office 365 consumer services, such as Skype, Outlook.com, and OneDrive; Dynamics business solutions, such as financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and mid-size businesses, large organizations, and divisions of enterprises; and LinkedIn online professional network.
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