Harvey Investment Co. LLC Has $1,271,000 Holdings in Microsoft Corporation (MSFT)
Harvey Investment Co. LLC held its position in shares of Microsoft Corporation (NASDAQ:MSFT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,441 shares of the software giant’s stock at the close of the 2nd quarter. Harvey Investment Co. LLC’s holdings in Microsoft Corporation were worth $1,271,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Appropriate Balance Financial Services Inc. raised its holdings in Microsoft Corporation by 4.7% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 643 shares of the software giant’s stock worth $9,331,000 after acquiring an additional 29 shares during the period. Hefty Wealth Partners raised its holdings in Microsoft Corporation by 65.6% in the 2nd quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock worth $113,000 after acquiring an additional 653 shares during the period. Asset Planning Services Ltd. raised its holdings in Microsoft Corporation by 93.0% in the 1st quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after acquiring an additional 837 shares during the period. Ullmann Financial Group Inc. bought a new position in Microsoft Corporation in the 1st quarter worth $132,000. Finally, Opera Trading Capital raised its holdings in Microsoft Corporation by 1,522.0% in the 2nd quarter. Opera Trading Capital now owns 2,433 shares of the software giant’s stock worth $168,000 after acquiring an additional 2,283 shares during the period. 73.40% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on MSFT shares. ValuEngine upgraded shares of Microsoft Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Credit Suisse Group reiterated an “outperform” rating on shares of Microsoft Corporation in a report on Thursday, August 31st. Royal Bank Of Canada set a $77.00 target price on shares of Microsoft Corporation and gave the stock a “buy” rating in a report on Monday, July 10th. Zacks Investment Research downgraded shares of Microsoft Corporation from a “strong-buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, KeyCorp reiterated a “buy” rating and issued a $82.00 target price on shares of Microsoft Corporation in a report on Sunday, September 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $76.98.
In other news, insider Jean Philippe Courtois sold 26,763 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $74.00, for a total value of $1,980,462.00. Following the transaction, the insider now owns 537,519 shares in the company, valued at approximately $39,776,406. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider G Mason Morfit sold 7,000,000 shares of the business’s stock in a transaction that occurred 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. Over the last quarter, insiders have sold 7,108,526 shares of company stock worth $515,879,974. 2.99% of the stock is owned by corporate insiders.
Shares of Microsoft Corporation (NASDAQ MSFT) traded up 1.49% during midday trading on Thursday, reaching $75.80. 10,022,724 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $73.92 and a 200-day moving average price of $70.52. Microsoft Corporation has a 52-week low of $56.32 and a 52-week high of $75.97. The stock has a market cap of $583.83 billion, a P/E ratio of 27.97 and a beta of 1.01.
Microsoft Corporation (NASDAQ:MSFT) last posted its earnings results on Thursday, July 20th. The software giant reported $0.98 EPS for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $24.29 billion. During the same period last year, the company earned $0.69 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Analysts forecast that Microsoft Corporation will post $3.20 earnings per share for the current year.
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 given a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 15th. This is an increase from Microsoft Corporation’s previous quarterly dividend of $0.39. This represents a $1.68 annualized dividend and a yield of 2.25%. Microsoft Corporation’s dividend payout ratio (DPR) is currently 57.78%.
About Microsoft Corporation
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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