Stokes & Hubbell Capital Management LLC Boosts Holdings in Microsoft Corporation (MSFT)
Stokes & Hubbell Capital Management LLC lifted its stake in Microsoft Corporation (NASDAQ:MSFT) by 46.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,351 shares of the software giant’s stock after purchasing an additional 17,595 shares during the quarter. Microsoft Corporation comprises approximately 1.2% of Stokes & Hubbell Capital Management LLC’s holdings, making the stock its 23rd largest position. Stokes & Hubbell Capital Management LLC’s holdings in Microsoft Corporation were worth $3,815,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Hefty Wealth Partners boosted its position in shares of 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 purchasing an additional 653 shares in the last quarter. Asset Planning Services Ltd. boosted its position in shares of 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 purchasing an additional 837 shares in the last quarter. Ullmann Financial Group Inc. bought a new stake in shares of Microsoft Corporation in the 1st quarter worth approximately $132,000. Arcus Capital Partners LLC bought a new stake in shares of Microsoft Corporation in the 1st quarter worth approximately $205,000. Finally, Towercrest Capital Management bought a new stake in shares of Microsoft Corporation in the 1st quarter worth approximately $209,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.
In other Microsoft Corporation news, CFO Amy Hood sold 55,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 510,217 shares in the company, valued at approximately $37,097,878.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jean Philippe Courtois sold 26,763 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were 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 $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 over the last quarter. 2.99% of the stock is currently owned by company insiders.
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Microsoft Corporation (MSFT) traded up 1.39% during mid-day trading on Thursday, reaching $75.73. 9,208,833 shares of the company were exchanged. The company has a 50 day moving average of $73.92 and a 200-day moving average of $70.52. Microsoft Corporation has a 1-year low of $56.32 and a 1-year high of $75.97. The company has a market capitalization of $583.29 billion, a price-to-earnings ratio of 27.94 and a beta of 1.01.
Microsoft Corporation (NASDAQ:MSFT) last posted its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.27. The firm had revenue of $24.70 billion for the quarter, compared to analyst estimates of $24.29 billion. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. Microsoft Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. On average, equities research analysts forecast that Microsoft Corporation will post $3.20 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.25%. This is a positive change from Microsoft Corporation’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, November 15th. Microsoft Corporation’s payout ratio is presently 57.78%.
MSFT has been the topic of a number of analyst reports. Sanford C. Bernstein set a $87.00 price target on Microsoft Corporation and gave the stock a “buy” rating in a research report on Friday, July 21st. Canaccord Genuity reissued a “hold” rating and issued a $76.00 price target on shares of Microsoft Corporation in a research report on Friday, September 15th. Evercore ISI reissued a “buy” rating and issued a $80.00 price target on shares of Microsoft Corporation in a research report on Friday, August 18th. Morningstar, Inc. reissued a “buy” rating on shares of Microsoft Corporation in a research report on Wednesday, June 28th. Finally, Macquarie set a $77.00 price target on Microsoft Corporation and gave the stock a “neutral” rating in a research report on Friday, July 21st. Two investment 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. The company has a consensus rating of “Buy” and a consensus price target 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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