Acadian Asset Management LLC Increases Position in Microsoft Corp. (MSFT)
Acadian Asset Management LLC raised its stake in shares of Microsoft Corp. (NASDAQ:MSFT) by 53.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,726,637 shares of the software giant’s stock after buying an additional 951,208 shares during the period. Acadian Asset Management LLC’s holdings in Microsoft Corp. were worth $139,523,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in MSFT. NN Investment Partners Holdings N.V. purchased a new position in Microsoft Corp. during the first quarter valued at $370,367,000. 1832 Asset Management L.P. raised its position in Microsoft Corp. by 51.3% in the first quarter. 1832 Asset Management L.P. now owns 10,051,624 shares of the software giant’s stock valued at $919,310,000 after buying an additional 3,407,829 shares during the period. BlackRock Group LTD raised its position in Microsoft Corp. by 4.6% in the first quarter. BlackRock Group LTD now owns 65,277,591 shares of the software giant’s stock valued at $3,605,281,000 after buying an additional 2,858,044 shares during the period. Virginia Retirement System purchased a new position in Microsoft Corp. during the first quarter valued at $129,152,000. Finally, Canada Pension Plan Investment Board raised its position in Microsoft Corp. by 29.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,247,865 shares of the software giant’s stock valued at $510,760,000 after buying an additional 2,090,639 shares during the period. Institutional investors and hedge funds own 71.58% of the company’s stock.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 0.88% during mid-day trading on Friday, hitting $57.42. 27,402,451 shares of the stock traded hands. Microsoft Corp. has a one year low of $47.02 and a one year high of $58.70. The stock has a 50 day moving average price of $57.40 and a 200-day moving average price of $54.45. The company has a market cap of $447.45 billion, a P/E ratio of 27.34 and a beta of 1.09.
Microsoft Corp. (NASDAQ:MSFT) last announced its quarterly earnings results on Tuesday, July 19th. The software giant reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.11. Microsoft Corp. had a return on equity of 29.38% and a net margin of 19.33%. The business earned $22.60 billion during the quarter, compared to analysts’ expectations of $22.15 billion. During the same quarter last year, the business posted $0.60 earnings per share. On average, analysts forecast that Microsoft Corp. will post $2.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be given 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 dividend yield of 2.72%. This is a boost from Microsoft Corp.’s previous quarterly dividend of $0.36. Microsoft Corp.’s dividend payout ratio (DPR) is currently 70.24%.
Several equities analysts have recently weighed in on MSFT shares. Cowen and Company reaffirmed an “outperform” rating and set a $60.00 target price on shares of Microsoft Corp. in a report on Friday, September 30th. Credit Agricole SA reaffirmed an “outperform” rating and set a $60.00 target price on shares of Microsoft Corp. in a report on Wednesday, October 5th. Vetr raised shares of Microsoft Corp. from a “hold” rating to a “buy” rating and set a $59.88 target price for the company in a report on Thursday, September 8th. Goldman Sachs Group Inc. set a $55.00 price target on shares of Microsoft Corp. and gave the stock a “neutral” rating in a report on Wednesday, June 29th. Finally, Jefferies Group set a $40.00 price target on shares of Microsoft Corp. and gave the stock a “sell” rating in a report on Tuesday, September 27th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $59.55.
In related news, CEO Satya Nadella sold 143,000 shares of Microsoft Corp. stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $57.97, for a total transaction of $8,289,710.00. Following the completion of the sale, the chief executive officer now owns 1,200,822 shares in the company, valued at approximately $69,611,651.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider G Mason Morfit sold 18,000,000 shares of Microsoft Corp. stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $56.12, for a total value of $1,010,160,000.00. The disclosure for this sale can be found here. Corporate insiders own 3.76% of the company’s stock.
Microsoft Corp. Company Profile
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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