Eads & Heald Wealth Management lessened its stake in Microsoft Co. (NASDAQ:MSFT) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,773 shares of the software giant’s stock after selling 510 shares during the period. Microsoft comprises about 1.4% of Eads & Heald Wealth Management’s holdings, making the stock its 14th largest holding. Eads & Heald Wealth Management’s holdings in Microsoft were worth $2,471,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA grew its holdings in shares of Microsoft by 274.5% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock worth $26,000 after acquiring an additional 140 shares during the period. Krane Funds Advisors LLC purchased a new position in shares of Microsoft during the 2nd quarter worth approximately $26,000. Centaurus Financial Inc. grew its holdings in shares of Microsoft by 21.1% during the 1st quarter. Centaurus Financial Inc. now owns 3,222 shares of the software giant’s stock worth $27,000 after acquiring an additional 561 shares during the period. Selective Wealth Management Inc. purchased a new position in shares of Microsoft during the 3rd quarter worth approximately $36,000. Finally, Atwater Malick LLC purchased a new position in shares of Microsoft during the 3rd quarter worth approximately $37,000. 72.22% of the stock is owned by institutional investors.
A number of research analysts have weighed in on the company. KeyCorp reiterated a “buy” rating and set a $155.00 target price on shares of Microsoft in a report on Thursday, August 29th. Zacks Investment Research upgraded Microsoft from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a report on Friday, October 25th. Macquarie upped their target price on Microsoft from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. restated a “buy” rating and issued a $169.00 price target on shares of Microsoft in a research note on Thursday, October 24th. Finally, Argus upped their price target on Microsoft to $158.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $159.45.
Microsoft (NASDAQ:MSFT) last released its quarterly earnings data on Wednesday, October 23rd. The software giant reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.14. The business had revenue of $33.06 billion for the quarter, compared to analysts’ expectations of $32.24 billion. Microsoft had a return on equity of 39.14% and a net margin of 31.66%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 EPS. On average, research analysts predict that Microsoft Co. will post 5.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.38%. This is a boost from Microsoft’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, November 20th. Microsoft’s dividend payout ratio is presently 38.74%.
Microsoft declared that its board has authorized a stock repurchase plan on Wednesday, September 18th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the software giant to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CAO Frank H. Brod sold 4,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $137.17, for a total transaction of $548,680.00. Following the transaction, the chief accounting officer now directly owns 54,306 shares of the company’s stock, valued at approximately $7,449,154.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Christopher C. Capossela sold 2,500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $144.01, for a total value of $360,025.00. Following the transaction, the chief marketing officer now directly owns 118,944 shares in the company, valued at $17,129,125.44. The disclosure for this sale can be found here. Insiders have sold a total of 332,804 shares of company stock worth $45,823,569 over the last three months. 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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