Iowa State Bank decreased its stake in shares of Microsoft Corporation (NASDAQ:MSFT) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,151 shares of the software giant’s stock after selling 2,363 shares during the period. Microsoft Corporation comprises about 2.9% of Iowa State Bank’s investment portfolio, making the stock its 4th biggest holding. Iowa State Bank’s holdings in Microsoft Corporation were worth $6,145,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of MSFT. Hefty Wealth Partners lifted its position in shares of Microsoft Corporation by 65.6% during the second quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock worth $113,000 after purchasing an additional 653 shares during the last quarter. Asset Planning Services Ltd. lifted its position in shares of Microsoft Corporation by 93.0% during the first quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after purchasing an additional 837 shares during the last quarter. Ullmann Financial Group Inc. bought a new position in shares of Microsoft Corporation during the first quarter worth about $132,000. Arcus Capital Partners LLC acquired a new stake in Microsoft Corporation during the first quarter worth about $205,000. Finally, Schneider Downs Wealth Management Advisors LP acquired a new stake in Microsoft Corporation during the first quarter worth about $209,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Amy Hood sold 55,000 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $72.71, for a total transaction of $3,999,050.00. Following the completion of the transaction, the chief financial officer now owns 510,217 shares in the company, valued at $37,097,878.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction 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 in the last 90 days. 2.99% of the stock is currently owned by corporate insiders.
Microsoft Corporation (NASDAQ:MSFT) last announced its earnings results on Thursday, July 20th. The software giant reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.27. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The business had revenue of $24.70 billion during the quarter, compared to analysts’ expectations of $24.29 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be issued a dividend of $0.42 per share. This is a boost from Microsoft Corporation’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.68 annualized dividend and a yield of 2.18%. Microsoft Corporation’s dividend payout ratio is presently 57.78%.
Several equities research analysts recently weighed in on MSFT shares. Sanford C. Bernstein set a $87.00 price objective on shares of Microsoft Corporation and gave the stock a “buy” rating in a research note on Friday, July 21st. Canaccord Genuity reiterated a “hold” rating and set a $76.00 price objective on shares of Microsoft Corporation in a research note on Friday, September 15th. Evercore ISI reiterated a “buy” rating and set a $80.00 price objective on shares of Microsoft Corporation in a research note on Friday, August 18th. Morningstar, Inc. reiterated a “buy” rating on shares of Microsoft Corporation in a research note on Wednesday, June 28th. Finally, Macquarie set a $77.00 price objective on shares of Microsoft Corporation and gave the stock a “neutral” rating in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-nine have assigned a buy rating to the company. Microsoft Corporation presently has a consensus rating of “Buy” and a consensus price target of $77.44.
Microsoft Corporation Company 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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