State of Alaska Department of Revenue reduced its stake in shares of Microsoft Corporation (NASDAQ:MSFT) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,857 shares of the software giant’s stock after selling 14,250 shares during the period. Microsoft Corporation accounts for about 0.9% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 20th largest position. State of Alaska Department of Revenue’s holdings in Microsoft Corporation were worth $12,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Microsoft Corporation by 0.8% during the 1st quarter. State Street Corp now owns 318,681,830 shares of the software giant’s stock worth $20,988,383,000 after acquiring an additional 2,552,473 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Microsoft Corporation by 2.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 28,965,189 shares of the software giant’s stock worth $1,907,648,000 after acquiring an additional 638,798 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Microsoft Corporation by 1.1% during the 1st quarter. Fisher Asset Management LLC now owns 18,652,532 shares of the software giant’s stock worth $1,228,456,000 after acquiring an additional 199,259 shares during the period. Sanders Capital LLC lifted its holdings in shares of Microsoft Corporation by 1.8% during the 1st quarter. Sanders Capital LLC now owns 11,856,396 shares of the software giant’s stock worth $803,298,000 after acquiring an additional 211,000 shares during the period. Finally, Boston Partners lifted its holdings in shares of Microsoft Corporation by 14.1% during the 1st quarter. Boston Partners now owns 11,579,231 shares of the software giant’s stock worth $762,607,000 after acquiring an additional 1,435,233 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.
Several brokerages have recently weighed in on MSFT. Canaccord Genuity upgraded shares of Microsoft Corporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $86.00 in a report on Thursday, October 5th. ValuEngine lowered shares of Microsoft Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Oppenheimer Holdings, Inc. set a $80.00 price objective on shares of Microsoft Corporation and gave the stock a “buy” rating in a report on Monday, September 25th. Stifel Nicolaus restated a “buy” rating and issued a $80.00 price target on shares of Microsoft Corporation in a report on Monday, September 18th. Finally, Royal Bank Of Canada set a $77.00 price target on shares of Microsoft Corporation and gave the company a “buy” rating in a report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $77.44.
Microsoft Corporation (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.27. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. The business had revenue of $24.70 billion for the quarter, compared to analyst estimates of $24.29 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts predict that Microsoft Corporation will post $3.20 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Wednesday, November 15th. This is a positive change from Microsoft Corporation’s previous quarterly dividend of $0.39. Microsoft Corporation’s dividend payout ratio is 57.78%.
In other news, insider Jean Philippe Courtois sold 26,763 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $74.00, for a total transaction of $1,980,462.00. Following the transaction, the insider now owns 544,080 shares of the company’s stock, valued at $40,261,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy Hood sold 55,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $72.71, for a total value of $3,999,050.00. Following the transaction, the chief financial officer now directly owns 510,217 shares in the company, valued at approximately $37,097,878.07. The disclosure for this sale can be found here. Insiders have sold 7,108,526 shares of company stock worth $515,879,974 in the last ninety days. 2.99% of the stock is currently owned by insiders.
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Microsoft Corporation Profile
Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.
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