Eagle Asset Management Inc. Sells 292,779 Shares of Microsoft Corp. (MSFT)
Eagle Asset Management Inc. decreased its stake in shares of Microsoft Corp. (NASDAQ:MSFT) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,422,542 shares of the software giant’s stock after selling 292,779 shares during the period. Microsoft Corp. comprises about 1.2% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 4th largest position. Eagle Asset Management Inc.’s holdings in Microsoft Corp. were worth $175,131,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Invictus RG bought a new position in shares of Microsoft Corp. during the first quarter valued at about $107,000. Northstar Group Inc. boosted its position in Microsoft Corp. by 0.4% in the second quarter. Northstar Group Inc. now owns 3,953 shares of the software giant’s stock worth $202,000 after buying an additional 14 shares during the last quarter. Wrapmanager Inc. acquired a new position in Microsoft Corp. during the first quarter worth $205,000. CLS Investments LLC boosted its position in Microsoft Corp. by 616.5% in the first quarter. CLS Investments LLC now owns 3,726 shares of the software giant’s stock worth $206,000 after buying an additional 3,206 shares during the last quarter. Finally, Windward Capital Management Co. CA boosted its position in Microsoft Corp. by 4.0% in the second quarter. Windward Capital Management Co. CA now owns 4,676 shares of the software giant’s stock worth $239,000 after buying an additional 179 shares during the last quarter. Institutional investors and hedge funds own 71.58% of the company’s stock.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded down 1.46% during midday trading on Tuesday, reaching $57.19. The company’s stock had a trading volume of 26,497,418 shares. The stock has a 50 day moving average of $57.49 and a 200-day moving average of $54.37. The company has a market capitalization of $445.65 billion, a P/E ratio of 27.23 and a beta of 1.09. Microsoft Corp. has a 1-year low of $46.53 and a 1-year high of $58.70.
Microsoft Corp. (NASDAQ:MSFT) last issued its quarterly earnings data on Tuesday, July 19th. The software giant reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.11. Microsoft Corp. had a net margin of 19.33% and a return on equity of 29.38%. The firm had revenue of $22.60 billion for the quarter, compared to analyst estimates of $22.15 billion. During the same quarter in the previous year, the business posted $0.60 EPS. On average, equities research analysts anticipate that Microsoft Corp. will post $2.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 2.73%. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.36. Microsoft Corp.’s payout ratio is currently 70.24%.
A number of equities analysts recently weighed in on the company. Vetr raised Microsoft Corp. from a “buy” rating to a “strong-buy” rating and set a $57.13 price target for the company in a report on Tuesday, June 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $57.00 price target on shares of Microsoft Corp. in a report on Sunday, July 17th. Nomura reaffirmed a “buy” rating on shares of Microsoft Corp. in a report on Sunday, July 17th. Sanford C. Bernstein set a $69.00 price target on Microsoft Corp. and gave the stock a “buy” rating in a report on Thursday, July 21st. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $50.00 price target on shares of Microsoft Corp. in a report on Monday, July 18th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company. Microsoft Corp. presently has an average rating of “Buy” and an average target price of $59.41.
In other news, CEO Satya Nadella sold 143,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $57.97, for a total value of $8,289,710.00. Following the sale, the chief executive officer now owns 1,200,822 shares in the company, valued at approximately $69,611,651.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy Hood sold 120,000 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $57.86, for a total transaction of $6,943,200.00. Following the completion of the sale, the chief financial officer now owns 523,425 shares in the company, valued at approximately $30,285,370.50. The disclosure for this sale can be found here. 3.76% of the stock is currently owned by company insiders.
About Microsoft Corp.
Microsoft Corporation is a technology company. The Company develops, licenses and supports a range of software products, services and devices. Its segments are Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Its 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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