Papp L Roy & Associates lifted its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,300 shares of the software giant’s stock after purchasing an additional 194 shares during the period. Microsoft comprises about 4.4% of Papp L Roy & Associates’ investment portfolio, making the stock its 3rd biggest holding. Papp L Roy & Associates’ holdings in Microsoft were worth $28,125,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of MSFT. Navellier & Associates Inc lifted its holdings in Microsoft by 0.6% in the second quarter. Navellier & Associates Inc now owns 15,304 shares of the software giant’s stock worth $2,050,000 after acquiring an additional 95 shares during the last quarter. Empirical Finance LLC lifted its holdings in Microsoft by 3.5% in the second quarter. Empirical Finance LLC now owns 8,707 shares of the software giant’s stock worth $1,166,000 after acquiring an additional 295 shares during the last quarter. Legacy Financial Strategies LLC bought a new position in Microsoft in the second quarter worth about $211,000. Axiom International Investors LLC DE lifted its holdings in Microsoft by 24.3% in the second quarter. Axiom International Investors LLC DE now owns 1,042,490 shares of the software giant’s stock worth $139,652,000 after acquiring an additional 203,715 shares during the last quarter. Finally, Independence Bank of Kentucky lifted its holdings in Microsoft by 0.6% in the second quarter. Independence Bank of Kentucky now owns 14,960 shares of the software giant’s stock worth $2,004,000 after acquiring an additional 95 shares during the last quarter. 72.17% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Jean Philippe Courtois sold 11,779 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.00, for a total transaction of $1,649,060.00. Following the transaction, the executive vice president now owns 597,727 shares in the company, valued at $83,681,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Christopher C. Capossela sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $144.01, for a total transaction of $360,025.00. Following the transaction, the chief marketing officer now owns 118,944 shares in the company, valued at approximately $17,129,125.44. The disclosure for this sale can be found here. Insiders have sold 332,804 shares of company stock worth $45,823,569 in the last quarter. Company insiders own 1.39% of the company’s stock.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Wednesday, October 23rd. The software giant reported $1.38 EPS for the quarter, beating the consensus estimate of $1.24 by $0.14. Microsoft had a net margin of 31.66% and a return on equity of 39.14%. The company had revenue of $33.06 billion for the quarter, compared to analyst estimates of $32.24 billion. During the same quarter last year, the business earned $1.14 earnings per share. Microsoft’s revenue was up 13.7% compared to the same quarter last year. Analysts predict that Microsoft Co. will post 5.35 EPS for the current year.
Microsoft declared that its board has approved a share buyback plan on Wednesday, September 18th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the software giant to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Wednesday, November 20th. This is a positive change from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s dividend payout ratio (DPR) is currently 38.74%.
MSFT has been the topic of a number of recent research reports. Barclays set a $168.00 target price on shares of Microsoft and gave the stock a “buy” rating in a report on Friday, November 1st. Goldman Sachs Group reissued a “buy” rating and issued a $151.00 target price on shares of Microsoft in a report on Wednesday, October 23rd. Deutsche Bank reissued a “buy” rating and issued a $160.00 target price on shares of Microsoft in a report on Monday, October 28th. Evercore ISI set a $160.00 target price on shares of Microsoft and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $160.00 target price on shares of Microsoft in a report on Monday. One equities research analyst has rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $159.45.
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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