ArrowMark Colorado Holdings LLC trimmed its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 16.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,062 shares of the software giant’s stock after selling 5,463 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Microsoft were worth $4,426,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Carolina Wealth Advisors LLC bought a new stake in shares of Microsoft in the 4th quarter valued at about $37,000. Firestone Capital Management acquired a new position in shares of Microsoft in the fourth quarter worth approximately $1,103,000. Sailer Financial LLC acquired a new position in shares of Microsoft in the fourth quarter worth approximately $65,000. Avondale Wealth Management boosted its holdings in Microsoft by 25.4% in the first quarter. Avondale Wealth Management now owns 464 shares of the software giant’s stock valued at $73,000 after acquiring an additional 94 shares during the last quarter. Finally, John W. Brooker & Co. CPAs increased its position in Microsoft by 21.4% during the 1st quarter. John W. Brooker & Co. CPAs now owns 568 shares of the software giant’s stock valued at $90,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.
A number of research firms have recently commented on MSFT. Mizuho reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Microsoft in a research note on Wednesday, May 20th. Deutsche Bank cut their price target on shares of Microsoft from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. JPMorgan Chase & Co. set a $190.00 price objective on Microsoft and gave the stock a “buy” rating in a research report on Thursday, May 14th. Barclays boosted their price objective on Microsoft from $190.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, BidaskClub raised Microsoft from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a hold rating and thirty-seven have given a buy rating to the company. Microsoft currently has a consensus rating of “Buy” and a consensus target price of $196.63.
Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, April 29th. The software giant reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.13. The company had revenue of $35.02 billion for the quarter, compared to analysts’ expectations of $33.70 billion. Microsoft had a return on equity of 40.37% and a net margin of 33.36%. Microsoft’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, equities analysts forecast that Microsoft Co. will post 5.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Wednesday, August 19th. Microsoft’s dividend payout ratio is 42.95%.
In related news, CAO Frank H. Brod sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $176.94, for a total transaction of $530,820.00. Following the transaction, the chief accounting officer now directly owns 57,136 shares of the company’s stock, valued at $10,109,643.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margaret L. Johnson sold 35,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $176.08, for a total transaction of $6,162,800.00. Following the transaction, the executive vice president now owns 50,023 shares in the company, valued at $8,808,049.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,049 shares of company stock valued at $6,702,736. Company insiders own 1.39% of the company’s stock.
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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