Robbins Farley LLC increased its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 10.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,695 shares of the software giant’s stock after purchasing an additional 1,656 shares during the period. Microsoft accounts for about 5.4% of Robbins Farley LLC’s holdings, making the stock its 3rd biggest holding. Robbins Farley LLC’s holdings in Microsoft were worth $4,794,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in MSFT. Danda Trouve Investment Management Inc. boosted its position in Microsoft by 63.8% during the 2nd quarter. Danda Trouve Investment Management Inc. now owns 131 shares of the software giant’s stock worth $35,000 after purchasing an additional 51 shares during the period. Litman Gregory Asset Management LLC boosted its position in Microsoft by 2,000.0% during the 2nd quarter. Litman Gregory Asset Management LLC now owns 924 shares of the software giant’s stock worth $92,000 after purchasing an additional 880 shares during the period. Paradigm Strategies in Wealth Management LLC boosted its position in Microsoft by 24.7% in the 2nd quarter. Paradigm Strategies in Wealth Management LLC now owns 353 shares of the software giant’s stock valued at $96,000 after buying an additional 70 shares during the last quarter. Strategic Point Investment Advisors LLC purchased a new position in Microsoft in the 2nd quarter valued at about $109,000. Finally, Lake Point Wealth Management purchased a new position in Microsoft in the 2nd quarter valued at about $162,000. 69.17% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently weighed in on MSFT. JPMorgan Chase & Co. increased their price objective on shares of Microsoft from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Zacks Investment Research upgraded shares of Microsoft from a “hold” rating to a “buy” rating and set a $329.00 price objective on the stock in a research note on Thursday, July 29th. Sanford C. Bernstein raised their price objective on shares of Microsoft from $298.00 to $333.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Mizuho reiterated a “buy” rating and set a $350.00 price objective (up previously from $325.00) on shares of Microsoft in a research note on Friday, August 20th. Finally, Barclays raised their price objective on shares of Microsoft from $330.00 to $345.00 and gave the company an “overweight” rating in a research note on Friday, September 17th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $324.84.
Microsoft (NASDAQ:MSFT) last posted its quarterly earnings results on Monday, July 26th. The software giant reported $2.17 EPS for the quarter, beating the consensus estimate of $1.92 by $0.25. Microsoft had a net margin of 36.45% and a return on equity of 45.76%. The business had revenue of $46.15 billion for the quarter, compared to analysts’ expectations of $44.30 billion. During the same period in the previous year, the company posted $1.46 EPS. Microsoft’s revenue was up 21.3% on a year-over-year basis. On average, equities research analysts expect that Microsoft Co. will post 8.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 9th. Stockholders of record on Thursday, November 18th will be issued a dividend of $0.62 per share. This is a boost from Microsoft’s previous quarterly dividend of $0.56. This represents a $2.48 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Wednesday, November 17th. Microsoft’s payout ratio is currently 28.11%.
Microsoft declared that its board has authorized a share buyback program on Tuesday, September 14th that permits the company to buyback $60.00 billion in shares. This buyback authorization permits the software giant to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, CEO Satya Nadella sold 75,573 shares of the company’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $303.28, for a total value of $22,919,779.44. Following the completion of the sale, the chief executive officer now directly owns 1,632,350 shares in the company, valued at $495,059,108. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathleen T. Hogan sold 20,000 shares of the business’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $298.68, for a total transaction of $5,973,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,573 shares of company stock worth $50,066,379. 0.05% of the stock is currently owned by corporate insiders.
Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment comprises products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform.
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