Bay Rivers Group raised its position in Microsoft Co. (NASDAQ:MSFT) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,531 shares of the software giant’s stock after buying an additional 390 shares during the period. Microsoft makes up about 2.4% of Bay Rivers Group’s holdings, making the stock its 13th biggest holding. Bay Rivers Group’s holdings in Microsoft were worth $3,533,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of MSFT. Danda Trouve Investment Management Inc. boosted its position in Microsoft by 63.8% in the 2nd quarter. Danda Trouve Investment Management Inc. now owns 131 shares of the software giant’s stock valued at $35,000 after buying an additional 51 shares during the last quarter. Litman Gregory Asset Management LLC boosted its position in Microsoft by 2,000.0% in the 2nd quarter. Litman Gregory Asset Management LLC now owns 924 shares of the software giant’s stock valued at $92,000 after buying an additional 880 shares during the last quarter. Paradigm Strategies in Wealth Management LLC boosted its position in Microsoft by 24.7% in the 2nd quarter. Paradigm Strategies in Wealth Management LLC now owns 353 shares of the software giant’s stock valued at $96,000 after buying an additional 70 shares during the last quarter. Strategic Point Investment Advisors LLC purchased a new position in Microsoft in the 2nd quarter valued at about $109,000. Finally, Yale University purchased a new position in Microsoft in the 2nd quarter valued at about $110,000. 69.05% of the stock is owned by institutional investors.
In related news, CEO Satya Nadella sold 419,292 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $344.61, for a total value of $144,492,216.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradford L. Smith sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $328.60, for a total transaction of $18,073,000.00. The disclosure for this sale can be found here. Insiders have sold 694,622 shares of company stock worth $230,826,252 in the last quarter. Company insiders own 0.05% of the company’s stock.
Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Monday, October 25th. The software giant reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.08 by $0.19. Microsoft had a net margin of 38.51% and a return on equity of 45.80%. The business had revenue of $45.32 billion for the quarter, compared to analyst estimates of $44 billion. During the same quarter last year, the business earned $1.82 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. Sell-side analysts anticipate that Microsoft Co. will post 9.16 earnings per share for the current fiscal year.
Microsoft declared that its board has approved a share repurchase program on Tuesday, September 14th that permits the company to repurchase $60.00 billion in shares. This repurchase authorization permits the software giant to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 9th. Investors of record on Thursday, November 18th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Wednesday, November 17th. This is a positive change from Microsoft’s previous quarterly dividend of $0.56. Microsoft’s dividend payout ratio (DPR) is currently 27.74%.
Several equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Microsoft from $331.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 27th. Wells Fargo & Company assumed coverage on shares of Microsoft in a research report on Monday. They set an “overweight” rating and a $400.00 price target on the stock. Griffin Securities increased their price target on shares of Microsoft from $290.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Evercore ISI increased their price target on shares of Microsoft from $325.00 to $370.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. Finally, Barclays increased their price target on shares of Microsoft from $345.00 to $363.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 27th. One investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $347.85.
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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