Bridges Investment Counsel Inc. Acquires 26,122 Shares of Microsoft Corporation (MSFT)
Bridges Investment Counsel Inc. grew its holdings in Microsoft Corporation (NASDAQ:MSFT) by 67.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,961 shares of the software giant’s stock after acquiring an additional 26,122 shares during the period. Bridges Investment Counsel Inc.’s holdings in Microsoft Corporation were worth $4,478,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of 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 last quarter. Norges Bank purchased a new stake in shares of Microsoft Corporation in the 4th quarter valued at $4,334,099,000. Dodge & Cox purchased a new stake in shares of Microsoft Corporation in the 4th quarter valued at $2,658,504,000. Schwab Charles Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 638,798 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Microsoft Corporation by 1.1% in the 1st quarter. Fisher Asset Management LLC now owns 18,652,532 shares of the software giant’s stock valued at $1,228,456,000 after purchasing an additional 199,259 shares during the period. 73.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Microsoft Corporation (MSFT) traded up 0.72% during mid-day trading on Friday, reaching $75.31. 38,578,441 shares of the company traded hands. The company has a market capitalization of $580.06 billion, a P/E ratio of 27.79 and a beta of 1.00. Microsoft Corporation has a 52-week low of $56.32 and a 52-week high of $75.49. The firm’s 50 day moving average price is $73.27 and its 200-day moving average price is $69.57.
Microsoft Corporation (NASDAQ:MSFT) last announced its earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $24.70 billion for the quarter, compared to analyst estimates of $24.29 billion. During the same period in the prior year, the company posted $0.69 EPS. Microsoft Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts predict that Microsoft Corporation will post $3.14 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the stock. Vetr cut shares of Microsoft Corporation from a “buy” rating to a “hold” rating and set a $74.32 target price for the company. in a research note on Tuesday, September 12th. Canaccord Genuity reiterated a “hold” rating and issued a $76.00 target price on shares of Microsoft Corporation in a research note on Friday. BMO Capital Markets boosted their target price on shares of Microsoft Corporation from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 21st. UBS AG reiterated a “buy” rating and issued a $82.00 target price (up from $73.00) on shares of Microsoft Corporation in a research note on Friday, July 21st. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $85.00 target price (up from $80.00) on shares of Microsoft Corporation in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirty have assigned a buy rating to the stock. Microsoft Corporation currently has an average rating of “Buy” and a consensus price target of $76.72.
In other Microsoft Corporation news, insider G Mason Morfit sold 7,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $72.56, for a total value of $507,920,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jean Philippe Courtois sold 26,763 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 544,080 shares in the company, valued at $40,261,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,108,526 shares of company stock worth $515,879,974. 2.99% of the stock is currently owned by corporate 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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