Wealth Enhancement Advisory Services LLC cut its position in Microsoft Corporation (NASDAQ:MSFT) by 15.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,862 shares of the software giant’s stock after selling 8,271 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Microsoft Corporation were worth $2,928,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MSFT. Pacific Center for Financial Services purchased a new position in shares of Microsoft Corporation during the fourth quarter worth approximately $155,000. Welch Investments LLC purchased a new position in shares of Microsoft Corporation during the fourth quarter worth approximately $160,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Microsoft Corporation during the fourth quarter worth approximately $161,000. Schneider Downs Wealth Management Advisors LP purchased a new position in shares of Microsoft Corporation during the first quarter worth approximately $209,000. Finally, Northwest Quadrant Wealth Management LLC purchased a new position in shares of Microsoft Corporation during the fourth quarter worth approximately $205,000. 72.74% of the stock is owned by institutional investors.
Shares of Microsoft Corporation (NASDAQ:MSFT) opened at 69.99 on Wednesday. Microsoft Corporation has a 12 month low of $51.55 and a 12 month high of $72.89. The company’s 50 day moving average price is $69.88 and its 200-day moving average price is $66.02. The firm has a market capitalization of $540.36 billion, a P/E ratio of 30.89 and a beta of 1.00.
Microsoft Corporation (NASDAQ:MSFT) last announced its quarterly earnings results on Thursday, April 27th. The software giant reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.04. The company had revenue of $23.56 billion during the quarter, compared to analyst estimates of $23.62 billion. Microsoft Corporation had a return on equity of 33.75% and a net margin of 20.42%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share. On average, equities analysts predict that Microsoft Corporation will post $3.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 17th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Tuesday, August 15th. Microsoft Corporation’s payout ratio is 69.03%.
A number of brokerages have commented on MSFT. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $78.00 target price on shares of Microsoft Corporation in a report on Tuesday, May 9th. William Blair reiterated an “outperform” rating on shares of Microsoft Corporation in a report on Monday, March 20th. Bank of America Corporation reiterated a “buy” rating and issued a $75.00 target price on shares of Microsoft Corporation in a report on Friday, June 16th. Cowen and Company boosted their target price on shares of Microsoft Corporation from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Finally, Vetr upgraded shares of Microsoft Corporation from a “hold” rating to a “buy” rating and set a $74.61 target price for the company in a report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $70.63.
In other news, Director William H. Gates III sold 2,500,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $69.40, for a total value of $173,500,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher C. Capossela sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $69.11, for a total value of $207,330.00. Following the completion of the sale, the executive vice president now directly owns 216,507 shares of the company’s stock, valued at approximately $14,962,798.77. The disclosure for this sale can be found here. Insiders sold 12,060,786 shares of company stock valued at $831,893,332 in the last ninety days. Company insiders own 2.99% of the company’s stock.
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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