First Mercantile Trust Co. Sells 37,487 Shares of Microsoft Corporation (MSFT)
First Mercantile Trust Co. decreased its holdings in shares of Microsoft Corporation (NASDAQ:MSFT) by 24.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,779 shares of the software giant’s stock after selling 37,487 shares during the period. Microsoft accounts for 1.5% of First Mercantile Trust Co.’s portfolio, making the stock its 4th largest position. First Mercantile Trust Co.’s holdings in Microsoft were worth $8,049,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. River Wealth Advisors LLC grew its holdings in shares of Microsoft by 6.4% during the second quarter. River Wealth Advisors LLC now owns 25,130 shares of the software giant’s stock valued at $1,732,000 after buying an additional 1,517 shares during the last quarter. Northeast Financial Consultants Inc grew its holdings in shares of Microsoft by 17.4% during the second quarter. Northeast Financial Consultants Inc now owns 10,100 shares of the software giant’s stock valued at $696,000 after buying an additional 1,500 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Microsoft by 7.3% during the first quarter. State of Wisconsin Investment Board now owns 7,827,220 shares of the software giant’s stock valued at $515,501,000 after buying an additional 530,893 shares during the last quarter. JLB & Associates Inc. purchased a new stake in shares of Microsoft during the second quarter valued at approximately $10,873,000. Finally, First National Bank Sioux Falls grew its holdings in shares of Microsoft by 9.6% during the second quarter. First National Bank Sioux Falls now owns 15,629 shares of the software giant’s stock valued at $1,078,000 after buying an additional 1,365 shares during the last quarter. 73.14% of the stock is owned by institutional investors and hedge funds.
Shares of Microsoft Corporation (NASDAQ:MSFT) opened at $83.26 on Monday. The company has a market cap of $642,316.75, a price-to-earnings ratio of 24.63, a PEG ratio of 1.94 and a beta of 1.01. Microsoft Corporation has a 52-week low of $58.80 and a 52-week high of $86.20. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.06 and a current ratio of 3.12.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Thursday, October 26th. The software giant reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. The firm had revenue of $24.50 billion for the quarter, compared to the consensus estimate of $23.57 billion. Microsoft had a net margin of 24.56% and a return on equity of 35.23%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $0.76 EPS. analysts anticipate that Microsoft Corporation will post 3.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.02%. This is an increase from Microsoft’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, November 15th. Microsoft’s dividend payout ratio (DPR) is presently 57.14%.
A number of research firms have recently commented on MSFT. Credit Suisse Group set a $84.00 price target on shares of Microsoft and gave the company a “buy” rating in a report on Friday, August 11th. BidaskClub upgraded shares of Microsoft from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Morgan Stanley set a $88.00 price target on shares of Microsoft and gave the company a “buy” rating in a report on Friday, October 27th. Tigress Financial reiterated a “buy” rating on shares of Microsoft in a report on Tuesday, November 7th. Finally, Goldman Sachs Group Inc set a $88.00 price target on shares of Microsoft and gave the company a “buy” rating in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirty have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $84.21.
In other Microsoft news, EVP Christopher C. Capossela sold 4,000 shares of Microsoft stock in a transaction on Friday, November 10th. The shares were sold at an average price of $83.46, for a total value of $333,840.00. Following the sale, the executive vice president now directly owns 189,278 shares in the company, valued at approximately $15,797,141.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy Hood sold 55,000 shares of Microsoft 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 sale, the chief financial officer now owns 510,217 shares in the company, valued at $37,097,878.07. The disclosure for this sale can be found here. Insiders have sold a total of 108,763 shares of company stock worth $8,242,232 over the last 90 days. Insiders own 1.49% of the company’s stock.
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Microsoft 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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