Microsoft Corporation (MSFT) Shares Sold by Rainier Group Investment Advisory LLC
Rainier Group Investment Advisory LLC cut its stake in Microsoft Corporation (NASDAQ:MSFT) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,257 shares of the software giant’s stock after selling 656 shares during the period. Microsoft Corporation accounts for 0.5% of Rainier Group Investment Advisory LLC’s investment portfolio, making the stock its 12th largest position. Rainier Group Investment Advisory LLC’s holdings in Microsoft Corporation were worth $1,071,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Asset Planning Services Ltd. raised its position 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 valued at $114,000 after buying an additional 837 shares during the last quarter. Pacific Center for Financial Services acquired a new position in Microsoft Corporation during the fourth quarter valued at about $155,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Microsoft Corporation during the fourth quarter valued at about $161,000. Schneider Downs Wealth Management Advisors LP acquired a new position in Microsoft Corporation during the first quarter valued at about $209,000. Finally, Cordasco Financial Network raised its position in Microsoft Corporation by 44.6% in the first quarter. Cordasco Financial Network now owns 3,326 shares of the software giant’s stock valued at $219,000 after buying an additional 1,026 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.
Microsoft Corporation (NASDAQ:MSFT) traded up 0.763% during midday trading on Thursday, reaching $74.575. 7,751,864 shares of the company were exchanged. The company has a market capitalization of $574.39 billion, a PE ratio of 27.518 and a beta of 1.01. The firm has a 50-day moving average price of $72.63 and a 200-day moving average price of $68.58. Microsoft Corporation has a 52 week low of $55.61 and a 52 week high of $74.75.
Microsoft Corporation (NASDAQ:MSFT) last released its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.27. The business had revenue of $24.70 billion during 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%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. Equities research analysts anticipate that Microsoft Corporation will post $3.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 17th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.56 annualized dividend and a yield of 2.11%. Microsoft Corporation’s payout ratio is currently 57.78%.
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Several equities analysts have recently issued reports on the stock. BMO Capital Markets lifted their target price on shares of Microsoft Corporation from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, July 21st. UBS AG restated a “buy” rating and issued a $82.00 price objective (up from $73.00) on shares of Microsoft Corporation in a report on Friday, July 21st. Canaccord Genuity boosted their price objective on shares of Microsoft Corporation from $68.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, July 21st. Deutsche Bank AG restated a “buy” rating and issued a $85.00 price objective (up from $80.00) on shares of Microsoft Corporation in a report on Friday, July 21st. Finally, Raymond James Financial, Inc. boosted their price objective on shares of Microsoft Corporation to $84.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have issued a buy rating to the company. Microsoft Corporation currently has a consensus rating of “Buy” and an average price target of $76.51.
In other Microsoft Corporation news, insider Jean Philippe Courtois sold 26,763 shares of Microsoft Corporation 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 completion of the transaction, the insider now directly owns 544,080 shares of the company’s stock, valued at approximately $40,261,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy Hood sold 55,000 shares of Microsoft Corporation stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $72.71, for a total value of $3,999,050.00. Following the completion of the transaction, the chief financial officer now directly owns 510,217 shares of the company’s stock, valued at $37,097,878.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,081,763 shares of company stock valued at $513,899,512. 2.99% of the stock is currently 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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