CIBC World Markets Inc. trimmed its position in shares of Microsoft Co. (NASDAQ:MSFT) by 27.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,225,043 shares of the software giant’s stock after selling 1,215,965 shares during the period. Microsoft comprises 2.6% of CIBC World Markets Inc.’s holdings, making the stock its 9th biggest holding. CIBC World Markets Inc.’s holdings in Microsoft were worth $508,622,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Thunderbird Partners LLP purchased a new position in Microsoft during the 1st quarter valued at $89,130,000. CWA Asset Management Group LLC grew its holdings in shares of Microsoft by 42.2% in the first quarter. CWA Asset Management Group LLC now owns 58,639 shares of the software giant’s stock worth $9,248,000 after purchasing an additional 17,407 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Microsoft by 1.2% in the 1st quarter. Advisors Asset Management Inc. now owns 1,068,644 shares of the software giant’s stock worth $168,536,000 after buying an additional 12,424 shares during the period. Engle Capital Management L.P. bought a new stake in Microsoft during the 1st quarter valued at about $12,775,000. Finally, RiverGlades Family Offices LLC boosted its position in Microsoft by 20.3% in the 1st quarter. RiverGlades Family Offices LLC now owns 2,405 shares of the software giant’s stock valued at $379,000 after buying an additional 405 shares during the period. 70.71% of the stock is currently owned by institutional investors.
In other Microsoft news, CAO Frank H. Brod sold 3,000 shares of the company’s stock in a transaction on Friday, May 1st. The stock was 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 in the company, 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 firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $176.08, for a total value of $6,162,800.00. Following the transaction, the executive vice president now owns 50,023 shares of the company’s stock, valued at $8,808,049.84. The disclosure for this sale can be found here. Insiders have sold a total of 38,049 shares of company stock valued at $6,702,736 in the last 90 days. Insiders own 1.39% of the company’s stock.
Microsoft (NASDAQ:MSFT) last posted its quarterly earnings results on Wednesday, April 29th. The software giant reported $1.40 EPS for the quarter, beating the consensus estimate of $1.27 by $0.13. Microsoft had a return on equity of 40.37% and a net margin of 33.36%. The firm had revenue of $35.02 billion during the quarter, compared to analysts’ expectations of $33.70 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, equities research analysts expect that Microsoft Co. will post 5.71 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be paid a $0.51 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.04 annualized dividend and a dividend yield of 1.00%. Microsoft’s dividend payout ratio (DPR) is 42.95%.
MSFT has been the subject of a number of research reports. BMO Capital Markets boosted their price target on Microsoft from $200.00 to $212.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Tigress Financial restated a “buy” rating on shares of Microsoft in a report on Friday, April 3rd. Fundamental Research reiterated a “buy” rating and set a $212.58 target price on shares of Microsoft in a report on Thursday, June 18th. Jefferies Financial Group boosted their price target on shares of Microsoft from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Argus increased their price objective on shares of Microsoft from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $196.63.
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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