Pinnacle Bank cut its holdings in Microsoft Co. (NASDAQ:MSFT) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,771 shares of the software giant’s stock after selling 162 shares during the period. Microsoft accounts for 2.4% of Pinnacle Bank’s investment portfolio, making the stock its 6th biggest position. Pinnacle Bank’s holdings in Microsoft were worth $3,953,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NuWave Investment Management LLC boosted its holdings in Microsoft by 3,250.0% in the 4th quarter. NuWave Investment Management LLC now owns 134 shares of the software giant’s stock worth $30,000 after buying an additional 130 shares during the period. Newfound Research LLC bought a new position in Microsoft in the 3rd quarter worth approximately $32,000. FNY Investment Advisers LLC bought a new position in Microsoft in the 3rd quarter worth approximately $45,000. Your Advocates Ltd. LLP boosted its holdings in Microsoft by 588.2% in the 2nd quarter. Your Advocates Ltd. LLP now owns 351 shares of the software giant’s stock worth $71,000 after buying an additional 300 shares during the period. Finally, Carolina Wealth Advisors LLC boosted its holdings in Microsoft by 20.1% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 341 shares of the software giant’s stock worth $72,000 after buying an additional 57 shares during the period. 63.89% of the stock is owned by institutional investors.
Several research firms have issued reports on MSFT. Stifel Nicolaus increased their target price on shares of Microsoft from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. BidaskClub cut shares of Microsoft from a “hold” rating to a “sell” rating in a research note on Thursday, January 7th. Tigress Financial reiterated a “buy” rating on shares of Microsoft in a research note on Sunday, November 1st. Barclays reiterated a “buy” rating and issued a $250.00 target price on shares of Microsoft in a research note on Wednesday, October 28th. Finally, Mizuho increased their target price on shares of Microsoft from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $236.71.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Tuesday, October 27th. The software giant reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.29. The business had revenue of $37.15 billion for the quarter, compared to analyst estimates of $35.67 billion. Microsoft had a net margin of 32.28% and a return on equity of 40.74%. Sell-side analysts anticipate that Microsoft Co. will post 6.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 11th. Shareholders of record on Thursday, February 18th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Wednesday, February 17th. Microsoft’s dividend payout ratio (DPR) is presently 38.89%.
In other Microsoft news, President Bradford L. Smith sold 200,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $222.58, for a total value of $44,516,000.00. Following the sale, the president now owns 778,439 shares of the company’s stock, valued at approximately $173,264,952.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kathleen T. Hogan sold 30,000 shares of the firm’s stock in a transaction on Wednesday, December 9th. The stock was sold at an average price of $212.43, for a total transaction of $6,372,900.00. Following the completion of the sale, the executive vice president now directly owns 189,064 shares in the company, valued at approximately $40,162,865.52. The disclosure for this sale can be found here. In the last three months, insiders sold 334,500 shares of company stock worth $74,142,240. Insiders own 0.05% of the company’s stock.
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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