Sawgrass Asset Management LLC trimmed its holdings in Microsoft Co. (NASDAQ:MSFT) by 22.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 863,094 shares of the software giant’s stock after selling 245,991 shares during the period. Microsoft comprises about 4.2% of Sawgrass Asset Management LLC’s portfolio, making the stock its 2nd largest holding. Sawgrass Asset Management LLC’s holdings in Microsoft were worth $98,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ronna Sue Cohen increased its holdings in Microsoft by 3.2% in the 3rd quarter. Ronna Sue Cohen now owns 17,497 shares of the software giant’s stock worth $2,001,000 after buying an additional 537 shares in the last quarter. Towerpoint Wealth LLC bought a new stake in Microsoft in the 3rd quarter worth about $217,000. Nan Shan Life Insurance Co. Ltd. bought a new stake in Microsoft in the 3rd quarter worth about $129,830,000. First Trust Advisors LP increased its holdings in Microsoft by 2.7% in the 3rd quarter. First Trust Advisors LP now owns 2,453,336 shares of the software giant’s stock worth $280,588,000 after buying an additional 64,831 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp increased its holdings in Microsoft by 9.7% in the 3rd quarter. CHURCHILL MANAGEMENT Corp now owns 45,161 shares of the software giant’s stock worth $5,165,000 after buying an additional 4,007 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Several brokerages have issued reports on MSFT. Mizuho began coverage on Microsoft in a research report on Wednesday. They issued a “buy” rating and a $135.00 target price on the stock. Credit Suisse Group set a $125.00 target price on Microsoft and gave the stock a “buy” rating in a research report on Monday, March 4th. ValuEngine cut Microsoft from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. UBS Group set a $125.00 target price on Microsoft and gave the stock a “buy” rating in a research report on Thursday, January 31st. Finally, Citigroup reissued a “neutral” rating and issued a $110.00 target price (down from $114.00) on shares of Microsoft in a research report on Thursday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $122.51.

In other news, insider Jean Philippe Courtois sold 28,147 shares of Microsoft stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $108.14, for a total transaction of $3,043,816.58. Following the transaction, the insider now directly owns 497,162 shares of the company’s stock, valued at approximately $53,763,098.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Satya Nadella sold 267,466 shares of Microsoft stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $106.01, for a total value of $28,354,070.66. Following the transaction, the chief executive officer now directly owns 1,746,854 shares in the company, valued at $185,183,992.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 333,667 shares of company stock worth $35,657,016. Insiders own 1.38% of the company’s stock.

MSFT stock opened at $115.91 on Friday. Microsoft Co. has a twelve month low of $87.08 and a twelve month high of $117.25. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.08 and a current ratio of 3.12. The stock has a market cap of $892.48 billion, a PE ratio of 29.87, a P/E/G ratio of 2.09 and a beta of 1.21.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Wednesday, January 30th. The software giant reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.01. Microsoft had a return on equity of 39.52% and a net margin of 28.31%. The firm had revenue of $32.47 billion for the quarter, compared to analysts’ expectations of $32.53 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts forecast that Microsoft Co. will post 4.41 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.46 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.59%. Microsoft’s payout ratio is currently 47.42%.

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About Microsoft

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, 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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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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