Stewart & Patten Co. LLC Reduces Stock Position in Microsoft Co. (NASDAQ:MSFT)

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Stewart & Patten Co. LLC lessened its position in Microsoft Co. (NASDAQ:MSFT) by 3.0% during the third quarter, Holdings Channel reports. The institutional investor owned 215,543 shares of the software giant’s stock after selling 6,658 shares during the quarter. Microsoft makes up approximately 5.2% of Stewart & Patten Co. LLC’s investment portfolio, making the stock its largest position. Stewart & Patten Co. LLC’s holdings in Microsoft were worth $29,967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC raised its position in shares of Microsoft by 0.6% during the third quarter. Wealthcare Advisory Partners LLC now owns 34,393 shares of the software giant’s stock worth $4,782,000 after purchasing an additional 200 shares during the period. West Coast Financial LLC raised its position in shares of Microsoft by 24.0% during the third quarter. West Coast Financial LLC now owns 8,395 shares of the software giant’s stock worth $1,167,000 after purchasing an additional 1,625 shares during the period. Vigilant Capital Management LLC raised its position in shares of Microsoft by 2.3% during the third quarter. Vigilant Capital Management LLC now owns 135,796 shares of the software giant’s stock worth $18,880,000 after purchasing an additional 3,034 shares during the period. Bouchey Financial Group Ltd raised its position in shares of Microsoft by 3.7% during the third quarter. Bouchey Financial Group Ltd now owns 7,758 shares of the software giant’s stock worth $1,079,000 after purchasing an additional 274 shares during the period. Finally, Westhampton Capital LLC raised its position in shares of Microsoft by 4.6% during the third quarter. Westhampton Capital LLC now owns 6,960 shares of the software giant’s stock worth $968,000 after purchasing an additional 305 shares during the period. 72.17% of the stock is currently owned by institutional investors.

In other Microsoft news, CMO Christopher C. Capossela sold 3,372 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $138.06, for a total value of $465,538.32. Following the completion of the transaction, the chief marketing officer now owns 136,623 shares of the company’s stock, valued at approximately $18,862,171.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Frank H. Brod sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $141.05, for a total value of $564,200.00. Following the completion of the transaction, the insider now directly owns 64,152 shares of the company’s stock, valued at approximately $9,048,639.60. The disclosure for this sale can be found here. Insiders have sold a total of 318,757 shares of company stock valued at $43,735,918 in the last three months. 1.39% of the stock is owned by insiders.

A number of brokerages have recently weighed in on MSFT. Raymond James lifted their price target on Microsoft from $160.00 to $163.00 and gave the company a “strong-buy” rating in a report on Friday, July 19th. Canaccord Genuity lifted their price target on Microsoft from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, July 19th. Evercore ISI set a $160.00 target price on Microsoft and gave the company a “buy” rating in a research note on Friday. Nomura set a $161.00 target price on Microsoft and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Citigroup set a $152.00 target price on Microsoft and gave the company a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $153.20.

NASDAQ MSFT opened at $137.41 on Monday. Microsoft Co. has a twelve month low of $93.96 and a twelve month high of $142.37. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.50 and a current ratio of 2.53. The stock has a market capitalization of $1,057.42 billion, a PE ratio of 28.93, a P/E/G ratio of 2.26 and a beta of 1.22. The stock has a 50-day simple moving average of $138.14 and a 200 day simple moving average of $132.82.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Thursday, July 18th. The software giant reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.16. Microsoft had a return on equity of 39.26% and a net margin of 31.18%. The business had revenue of $33.72 billion during the quarter, compared to analysts’ expectations of $32.80 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts forecast that Microsoft Co. will post 5.21 EPS for the current fiscal year.

Microsoft declared that its board has approved a stock repurchase plan on Wednesday, September 18th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the software giant to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Wednesday, November 20th. This is a boost from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s payout ratio is currently 38.74%.

Microsoft Profile

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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