Towercrest Capital Management Purchases New Stake in Microsoft Corporation (MSFT)
Towercrest Capital Management purchased a new position in shares of Microsoft Corporation (NASDAQ:MSFT) during the first quarter, Holdings Channel reports. The fund purchased 3,168 shares of the software giant’s stock, valued at approximately $209,000. Microsoft Corporation accounts for about 0.2% of Towercrest Capital Management’s investment portfolio, making the stock its 25th largest position.
A number of other large investors have also added to or reduced their stakes in MSFT. Asset Planning Services Ltd. boosted its stake in Microsoft Corporation by 93.0% in the first quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after buying an additional 837 shares during the period. Pacific Center for Financial Services acquired a new stake in Microsoft Corporation during the fourth quarter worth approximately $155,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Microsoft Corporation during the fourth quarter worth approximately $161,000. Arcus Capital Partners LLC acquired a new stake in Microsoft Corporation during the first quarter worth approximately $205,000. Finally, Schneider Downs Wealth Management Advisors LP acquired a new stake in Microsoft Corporation during the first quarter worth approximately $209,000. Institutional investors own 72.64% of the company’s stock.
Microsoft Corporation (NASDAQ:MSFT) traded up 0.567% during midday trading on Wednesday, reaching $73.635. The company’s stock had a trading volume of 4,737,883 shares. The company has a 50 day moving average price of $71.85 and a 200 day moving average price of $68.13. The firm has a market cap of $567.15 billion, a price-to-earnings ratio of 27.172 and a beta of 1.01. Microsoft Corporation has a 1-year low of $55.61 and a 1-year high of $74.42.
Microsoft Corporation (NASDAQ:MSFT) last announced its earnings results on Thursday, July 20th. The software giant reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.27. The firm had revenue of $24.70 billion for the quarter, compared to analysts’ expectations of $24.29 billion. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. Microsoft Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. On average, equities research analysts expect that Microsoft Corporation will post $3.22 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, August 15th. Microsoft Corporation’s dividend payout ratio (DPR) is presently 57.78%.
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A number of equities research analysts have commented on MSFT shares. Sanford C. Bernstein restated a “buy” rating and issued a $81.00 price objective on shares of Microsoft Corporation in a research note on Friday, April 28th. Morningstar, Inc. restated a “buy” rating on shares of Microsoft Corporation in a research note on Friday, April 28th. Pacific Crest restated a “buy” rating and issued a $78.00 price objective (up from $70.00) on shares of Microsoft Corporation in a research note on Friday, April 28th. Goldman Sachs Group, Inc. (The) raised their price objective on Microsoft Corporation from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Finally, Morgan Stanley restated a “buy” rating and issued a $72.00 price objective on shares of Microsoft Corporation in a research note on Thursday, April 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. Microsoft Corporation presently has a consensus rating of “Buy” and a consensus target price of $76.15.
In other news, EVP Christopher C. Capossela sold 4,927 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $68.75, for a total transaction of $338,731.25. Following the sale, the executive vice president now owns 214,080 shares in the company, valued at $14,718,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jean Philippe Courtois sold 26,763 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $74.00, for a total value of $1,980,462.00. Following the sale, the insider now owns 544,080 shares in the company, valued at approximately $40,261,920. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,057,855 shares of company stock worth $512,044,578. 2.99% of the stock is owned by insiders.
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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