Microsoft Co. (NASDAQ:MSFT) is Sawgrass Asset Management LLC’s 2nd Largest Position

Sawgrass Asset Management LLC lowered its position in shares of Microsoft Co. (NASDAQ:MSFT) by 51.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 419,204 shares of the software giant’s stock after selling 440,784 shares during the quarter. Microsoft comprises approximately 4.5% of Sawgrass Asset Management LLC’s holdings, making the stock its 2nd largest holding. Sawgrass Asset Management LLC’s holdings in Microsoft were worth $58,282,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MSFT. LFA Lugano Financial Advisors SA lifted its position in Microsoft by 274.5% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock worth $26,000 after acquiring an additional 140 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in Microsoft during the 2nd quarter worth approximately $26,000. Selective Wealth Management Inc. acquired a new position in Microsoft during the 3rd quarter worth approximately $36,000. Atwater Malick LLC acquired a new position in Microsoft during the 3rd quarter worth approximately $37,000. Finally, AlphaOne Investment Services LLC acquired a new position in Microsoft during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

In related news, EVP Kathleen T. Hogan sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $135.25, for a total transaction of $5,410,000.00. Following the completion of the transaction, the executive vice president now owns 198,042 shares of the company’s stock, valued at $26,785,180.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Frank H. Brod sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $137.17, for a total value of $548,680.00. Following the transaction, the chief accounting officer now directly owns 54,306 shares of the company’s stock, valued at approximately $7,449,154.02. The disclosure for this sale can be found here. Insiders have sold 339,804 shares of company stock valued at $46,790,619 in the last ninety days. Company insiders own 1.39% of the company’s stock.

Several equities analysts recently commented on MSFT shares. Sanford C. Bernstein reissued a “buy” rating and set a $167.00 price target on shares of Microsoft in a research report on Monday, October 28th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $169.00 target price on shares of Microsoft in a research report on Thursday, October 24th. Stifel Nicolaus upped their target price on Microsoft from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Deutsche Bank reaffirmed a “buy” rating and issued a $160.00 target price on shares of Microsoft in a research report on Monday, October 28th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $158.00 target price on shares of Microsoft in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $159.45.

MSFT stock opened at $145.96 on Friday. Microsoft Co. has a 12-month low of $93.96 and a 12-month high of $145.99. The firm has a market cap of $1,102.06 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.27 and a beta of 1.23. The stock’s 50 day simple moving average is $139.85 and its 200 day simple moving average is $135.04. The company has a current ratio of 2.85, a quick ratio of 2.81 and a debt-to-equity ratio of 0.69.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, October 23rd. The software giant reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.14. Microsoft had a return on equity of 39.14% and a net margin of 31.66%. The business had revenue of $33.06 billion during the quarter, compared to analysts’ expectations of $32.24 billion. During the same quarter last year, the business posted $1.14 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. On average, research analysts forecast that Microsoft Co. will post 5.35 EPS for the current fiscal year.

Microsoft declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 18th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the software giant to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.51 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.04 annualized dividend and a yield of 1.40%. This is a boost from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s dividend payout ratio (DPR) is currently 38.74%.

Microsoft Company 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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