Microsoft Corporation (MSFT) Position Lifted by Sadoff Investment Management LLC
Sadoff Investment Management LLC increased its position in Microsoft Corporation (NASDAQ:MSFT) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,304 shares of the software giant’s stock after acquiring an additional 290 shares during the quarter. Sadoff Investment Management LLC’s holdings in Microsoft Corporation were worth $297,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Appropriate Balance Financial Services Inc. raised its holdings in Microsoft Corporation by 4.7% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 643 shares of the software giant’s stock worth $9,331,000 after acquiring an additional 29 shares during the period. Hefty Wealth Partners raised its holdings in Microsoft Corporation by 65.6% in the 2nd quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock worth $113,000 after acquiring an additional 653 shares during the period. Asset Planning Services Ltd. raised its holdings in Microsoft Corporation by 93.0% in the 1st quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after acquiring an additional 837 shares during the period. Ullmann Financial Group Inc. bought a new position in Microsoft Corporation in the 1st quarter worth $132,000. Finally, Opera Trading Capital raised its holdings in Microsoft Corporation by 1,522.0% in the 2nd quarter. Opera Trading Capital now owns 2,433 shares of the software giant’s stock worth $168,000 after acquiring an additional 2,283 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.
Shares of Microsoft Corporation (NASDAQ:MSFT) traded up 1.47% during midday trading on Thursday, reaching $75.79. 10,022,824 shares of the company’s stock traded hands. The stock has a market cap of $583.75 billion, a P/E ratio of 27.97 and a beta of 1.01. The stock has a 50-day moving average price of $73.92 and a 200-day moving average price of $70.52. Microsoft Corporation has a 52-week low of $56.32 and a 52-week high of $75.97.
Microsoft Corporation (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.27. The firm had revenue of $24.70 billion for the quarter, compared to the consensus estimate of $24.29 billion. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 EPS. Analysts forecast that Microsoft Corporation will post $3.20 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from Microsoft Corporation’s previous quarterly dividend of $0.39. Microsoft Corporation’s payout ratio is 57.78%.
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In other news, insider G Mason Morfit sold 7,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $72.56, for a total value of $507,920,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jean Philippe Courtois sold 26,763 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $74.00, for a total transaction of $1,980,462.00. Following the completion of the transaction, the insider now owns 544,080 shares in the company, valued at approximately $40,261,920. The disclosure for this sale can be found here. Insiders sold a total of 7,108,526 shares of company stock worth $515,879,974 in the last 90 days. Corporate insiders own 2.99% of the company’s stock.
Several research analysts recently commented on the stock. Royal Bank Of Canada set a $77.00 target price on shares of Microsoft Corporation and gave the stock a “buy” rating in a report on Monday, September 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 target price on shares of Microsoft Corporation in a report on Monday, September 18th. Vetr downgraded shares of Microsoft Corporation from a “buy” rating to a “hold” rating and set a $74.32 target price on the stock. in a report on Tuesday, September 12th. Canaccord Genuity reiterated a “hold” rating and issued a $76.00 target price on shares of Microsoft Corporation in a report on Friday, September 15th. Finally, ValuEngine downgraded shares of Microsoft Corporation from a “buy” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty have assigned a buy rating to the company. Microsoft Corporation currently has a consensus rating of “Buy” and an average target price of $76.98.
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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