Microsoft Corporation (MSFT) Position Cut by West Coast Financial LLC
West Coast Financial LLC decreased its position in shares of Microsoft Corporation (NASDAQ:MSFT) by 9.4% during the second quarter, Holdings Channel reports. The fund owned 9,100 shares of the software giant’s stock after selling 943 shares during the period. West Coast Financial LLC’s holdings in Microsoft Corporation were worth $627,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Northstar Group Inc. raised its position in shares of Microsoft Corporation by 0.3% in the first quarter. Northstar Group Inc. now owns 3,790 shares of the software giant’s stock worth $248,000 after buying an additional 12 shares during the last quarter. Gierl Augustine Investment Management Inc raised its stake in Microsoft Corporation by 0.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 4,034 shares of the software giant’s stock worth $266,000 after buying an additional 13 shares during the last quarter. New Capital Management LP raised its stake in Microsoft Corporation by 0.5% in the first quarter. New Capital Management LP now owns 4,305 shares of the software giant’s stock worth $284,000 after buying an additional 22 shares during the last quarter. Nottingham Advisors Inc. raised its stake in Microsoft Corporation by 0.4% in the second quarter. Nottingham Advisors Inc. now owns 5,399 shares of the software giant’s stock worth $372,000 after buying an additional 22 shares during the last quarter. Finally, Vista Capital Partners Inc. raised its stake in Microsoft Corporation by 0.4% in the first quarter. Vista Capital Partners Inc. now owns 9,411 shares of the software giant’s stock worth $620,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 72.86% of the company’s stock.
Microsoft Corporation (NASDAQ:MSFT) traded up 1.30% on Friday, hitting $72.34. 9,127,797 shares of the stock traded hands. The stock has a market cap of $557.18 billion, a price-to-earnings ratio of 26.69 and a beta of 1.01. The firm’s 50-day moving average price is $71.64 and its 200-day moving average price is $67.88. Microsoft Corporation has a 12-month low of $55.61 and a 12-month high of $74.42.
Microsoft Corporation (NASDAQ:MSFT) last issued its quarterly earnings data on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, beating 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 company had revenue of $24.70 billion during the quarter, compared to the consensus estimate of $24.29 billion. During the same quarter last year, the company earned $0.69 earnings per share. Microsoft Corporation’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that Microsoft Corporation will post $3.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, August 15th. Microsoft Corporation’s dividend payout ratio (DPR) is 57.78%.
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A number of research firms have recently weighed in on MSFT. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $78.00 price objective on shares of Microsoft Corporation in a research note on Tuesday, May 9th. Bank of America Corporation reiterated a “buy” rating and issued a $75.00 price objective on shares of Microsoft Corporation in a research note on Friday, June 16th. Cowen and Company increased their price objective on shares of Microsoft Corporation from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Vetr upgraded shares of Microsoft Corporation from a “hold” rating to a “buy” rating and set a $74.61 price objective on the stock in a research note on Monday, June 12th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $73.00 price objective on shares of Microsoft Corporation in a research note on Monday, July 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $76.15.
In other news, insider Jean Philippe Courtois sold 26,165 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $69.00, for a total transaction of $1,805,385.00. Following the completion of the transaction, the insider now directly owns 570,843 shares in the company, valued at approximately $39,388,167. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christopher C. Capossela sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $69.11, for a total value of $207,330.00. Following the transaction, the executive vice president now owns 216,507 shares of the company’s stock, valued at $14,962,798.77. The disclosure for this sale can be found here. Insiders sold 7,060,855 shares of company stock valued at $512,251,908 in the last ninety days. 2.99% of the stock is owned by corporate insiders.
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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