Cullinan Associates Inc. trimmed its position in Microsoft Corporation (NASDAQ:MSFT) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 314,843 shares of the software giant’s stock after selling 2,414 shares during the quarter. Microsoft Corporation makes up 1.7% of Cullinan Associates Inc.’s holdings, making the stock its 7th largest position. Cullinan Associates Inc.’s holdings in Microsoft Corporation were worth $21,702,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in Microsoft Corporation by 0.8% in the 1st quarter. State Street Corp now owns 318,681,830 shares of the software giant’s stock valued at $20,988,383,000 after acquiring an additional 2,552,473 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Microsoft Corporation by 2.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 28,965,189 shares of the software giant’s stock valued at $1,907,648,000 after acquiring an additional 638,798 shares during the period. Fisher Asset Management LLC grew its position in shares of Microsoft Corporation by 1.1% during the 1st quarter. Fisher Asset Management LLC now owns 18,652,532 shares of the software giant’s stock worth $1,228,456,000 after purchasing an additional 199,259 shares in the last quarter. Sanders Capital LLC grew its position in shares of Microsoft Corporation by 1.8% during the 1st quarter. Sanders Capital LLC now owns 11,856,396 shares of the software giant’s stock worth $803,298,000 after purchasing an additional 211,000 shares in the last quarter. Finally, Boston Partners grew its position in shares of Microsoft Corporation by 14.1% during the 1st quarter. Boston Partners now owns 11,579,231 shares of the software giant’s stock worth $762,607,000 after purchasing an additional 1,435,233 shares in the last quarter. 73.37% of the stock is currently owned by institutional investors.
Shares of Microsoft Corporation (NASDAQ:MSFT) traded down 0.31% during midday trading on Tuesday, reaching $77.41. 8,602,317 shares of the company traded hands. Microsoft Corporation has a 1-year low of $56.66 and a 1-year high of $77.87. The firm has a market capitalization of $596.23 billion, a PE ratio of 28.56 and a beta of 1.01. The stock has a 50 day moving average price of $74.73 and a 200 day moving average price of $71.14.
Microsoft Corporation (NASDAQ:MSFT) last posted its quarterly earnings data on Thursday, July 20th. The software giant reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.27. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. The firm had revenue of $24.70 billion during the quarter, compared to the consensus estimate of $24.29 billion. During the same period in the prior year, the company earned $0.69 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Analysts expect that Microsoft Corporation will post $3.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, November 15th. This is an increase from Microsoft Corporation’s previous quarterly dividend of $0.39. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.16%. Microsoft Corporation’s dividend payout ratio (DPR) is 57.78%.
In related news, insider G Mason Morfit sold 7,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $72.56, for a total transaction of $507,920,000.00. The sale 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 dated Tuesday, July 25th. The shares were sold at an average price of $74.00, for a total value of $1,980,462.00. Following the transaction, the insider now owns 544,080 shares of the company’s stock, valued at $40,261,920. The disclosure for this sale can be found here. Insiders sold a total of 7,108,526 shares of company stock valued at $515,879,974 over the last ninety days. Corporate insiders own 2.99% of the company’s stock.
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A number of research analysts have issued reports on the stock. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $88.00 target price (up previously from $78.00) on shares of Microsoft Corporation in a research report on Tuesday, July 18th. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 price target on shares of Microsoft Corporation in a research report on Monday, July 17th. Credit Suisse Group reiterated an “outperform” rating on shares of Microsoft Corporation in a research report on Thursday, August 31st. Wells Fargo & Company set a $82.50 price target on shares of Microsoft Corporation and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Royal Bank Of Canada set a $77.00 target price on shares of Microsoft Corporation and gave the company a “buy” rating in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $77.44.
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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