Renaissance Investment Group LLC raised its holdings in shares of Microsoft Corporation (NASDAQ:MSFT) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,313 shares of the software giant’s stock after acquiring an additional 1,856 shares during the quarter. Microsoft Corporation makes up 2.5% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 16th largest position. Renaissance Investment Group LLC’s holdings in Microsoft Corporation were worth $5,743,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Gierl Augustine Investment Management Inc increased its holdings in Microsoft Corporation by 0.3% during the 1st quarter. Gierl Augustine Investment Management Inc now owns 4,034 shares of the software giant’s stock valued at $266,000 after acquiring an additional 13 shares in the last quarter. New Capital Management LP increased its holdings in Microsoft Corporation by 0.5% during the 1st quarter. New Capital Management LP now owns 4,305 shares of the software giant’s stock valued at $284,000 after acquiring an additional 22 shares in the last quarter. Vista Capital Partners Inc. increased its holdings in Microsoft Corporation by 0.4% during the 1st quarter. Vista Capital Partners Inc. now owns 9,411 shares of the software giant’s stock valued at $620,000 after acquiring an additional 36 shares in the last quarter. Syntal Capital Partners LLC increased its holdings in Microsoft Corporation by 0.8% during the 1st quarter. Syntal Capital Partners LLC now owns 8,121 shares of the software giant’s stock valued at $534,000 after acquiring an additional 64 shares in the last quarter. Finally, Summit Asset Management LLC increased its holdings in Microsoft Corporation by 0.7% during the 1st quarter. Summit Asset Management LLC now owns 10,706 shares of the software giant’s stock valued at $705,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.
In other Microsoft Corporation news, insider Jean Philippe Courtois sold 26,763 shares of the 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 completion of the transaction, the insider now directly owns 544,080 shares in the company, valued at $40,261,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider G Mason Morfit sold 7,000,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $72.56, for a total value of $507,920,000.00. The disclosure for this sale can be found here. Insiders have sold 7,108,526 shares of company stock valued at $515,879,974 over the last quarter. Corporate insiders own 2.99% of the company’s stock.
Shares of Microsoft Corporation (NASDAQ MSFT) traded up 0.08% during trading on Tuesday, hitting $76.35. 6,916,339 shares of the stock traded hands. The firm’s 50-day moving average price is $74.20 and its 200-day moving average price is $70.80. The company has a market cap of $588.07 billion, a price-to-earnings ratio of 28.17 and a beta of 1.01. Microsoft Corporation has a 52 week low of $56.32 and a 52 week high of $76.63.
Microsoft Corporation (NASDAQ:MSFT) last released its quarterly earnings data on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $24.70 billion during the quarter, compared to analyst estimates of $24.29 billion. During the same period in the prior year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that Microsoft Corporation will post $3.20 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.42 per share. This is a positive change from Microsoft Corporation’s previous quarterly dividend of $0.39. This represents a $1.68 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, November 15th. Microsoft Corporation’s dividend payout ratio is currently 57.78%.
Several equities analysts have weighed in on the stock. Canaccord Genuity upgraded shares of Microsoft Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $76.00 to $86.00 in a report on Thursday, October 5th. ValuEngine downgraded 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 target price on shares of Microsoft Corporation and gave the company a “buy” rating in a report on Monday, September 25th. Stifel Nicolaus restated a “buy” rating and set a $80.00 target price on shares of Microsoft Corporation in a report on Monday, September 18th. Finally, Royal Bank Of Canada set a $77.00 target price 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 given a buy rating to the stock. Microsoft Corporation currently has an average rating of “Buy” and a consensus price target of $77.44.
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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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