Private Asset Management Inc. Grows Position in Microsoft Co. (MSFT)
Private Asset Management Inc. lifted its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 3.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 140,277 shares of the software giant’s stock after acquiring an additional 5,114 shares during the period. Microsoft accounts for about 2.0% of Private Asset Management Inc.’s portfolio, making the stock its 16th largest position. Private Asset Management Inc.’s holdings in Microsoft were worth $12,803,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Spectrum Financial Alliance Ltd LLC acquired a new position in shares of Microsoft during the 1st quarter valued at $147,000. Ballew Advisors Inc acquired a new position in Microsoft during the first quarter worth $164,000. Lara May & Associates LLC acquired a new position in Microsoft during the first quarter worth $199,000. AlphaStar Capital Management LLC acquired a new position in Microsoft during the fourth quarter worth $204,000. Finally, Trilogy Capital Inc. acquired a new position in Microsoft during the fourth quarter worth $207,000. Institutional investors own 71.75% of the company’s stock.
Several research analysts have weighed in on the stock. Oppenheimer restated a “buy” rating and set a $127.00 price objective on shares of Microsoft in a report on Monday. Zacks Investment Research downgraded shares of Microsoft from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Royal Bank of Canada restated a “buy” rating and set a $124.00 price objective on shares of Microsoft in a report on Monday, September 3rd. Credit Suisse Group set a $125.00 price objective on shares of Microsoft and gave the stock a “buy” rating in a report on Wednesday, September 19th. Finally, BidaskClub upgraded shares of Microsoft from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. Microsoft has an average rating of “Buy” and an average price target of $119.74.
Microsoft (NASDAQ:MSFT) last announced its earnings results on Thursday, July 19th. The software giant reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.05. The company had revenue of $30.09 billion during the quarter, compared to the consensus estimate of $29.23 billion. Microsoft had a net margin of 15.02% and a return on equity of 36.69%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. equities research analysts anticipate that Microsoft Co. will post 4.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 15th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.84 annualized dividend and a dividend yield of 1.61%. This is an increase from Microsoft’s previous quarterly dividend of $0.42. Microsoft’s dividend payout ratio is currently 43.30%.
In related news, EVP Margaret L. Johnson sold 47,000 shares of the stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $107.67, for a total transaction of $5,060,490.00. Following the completion of the transaction, the executive vice president now owns 109,687 shares in the company, valued at $11,809,999.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jean Philippe Courtois sold 28,941 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $109.00, for a total transaction of $3,154,569.00. Following the transaction, the insider now owns 529,721 shares of the company’s stock, valued at approximately $57,739,589. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,042 shares of company stock valued at $71,264,850. 1.49% of the stock is currently owned by corporate insiders.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates through Productivity and Business Processes, Intelligent Cloud, and More Personal Computing segments. The Productivity and Business Processes segment offers Office 365 commercial products and services for businesses, 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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