Union Bankshares Corp Has $4.84 Million Stake in Microsoft Corporation (MSFT)
Union Bankshares Corp lowered its stake in Microsoft Corporation (NASDAQ:MSFT) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,188 shares of the software giant’s stock after selling 524 shares during the quarter. Microsoft Corporation comprises approximately 1.7% of Union Bankshares Corp’s holdings, making the stock its 17th largest holding. Union Bankshares Corp’s holdings in Microsoft Corporation were worth $4,838,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Hefty Wealth Partners raised its stake in Microsoft Corporation by 65.6% during the 2nd quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock worth $113,000 after buying an additional 653 shares during the period. Asset Planning Services Ltd. raised its stake 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 valued at $114,000 after purchasing an additional 837 shares during the period. Ullmann Financial Group Inc. acquired a new stake in shares of Microsoft Corporation in the 1st quarter valued at about $132,000. Arcus Capital Partners LLC acquired a new stake in shares of Microsoft Corporation in the 1st quarter valued at about $205,000. Finally, Schneider Downs Wealth Management Advisors LP acquired a new stake in shares of Microsoft Corporation in the 1st quarter valued at about $209,000. 73.40% of the stock is currently owned by institutional investors.
Shares of Microsoft Corporation (MSFT) traded down 0.2835% during midday trading on Friday, reaching $75.7546. 6,117,861 shares of the company’s stock traded hands. Microsoft Corporation has a 52 week low of $56.32 and a 52 week high of $76.12. The stock’s 50 day moving average is $73.99 and its 200-day moving average is $70.56. The company has a market capitalization of $583.48 billion, a PE ratio of 27.9537 and a beta of 1.01. Microsoft Corporation also was the target of some unusual options trading on Thursday. Traders bought 46,917 call options on the company. This is an increase of approximately 117% compared to the average volume of 21,578 call options.
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 analysts’ consensus estimates of $0.71 by $0.27. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. The firm had revenue of $24.70 billion for the quarter, compared to analyst estimates of $24.29 billion. During the same period last year, the company earned $0.69 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that Microsoft Corporation will post $3.20 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be paid a $0.42 dividend. This is a positive change from Microsoft Corporation’s previous quarterly dividend of $0.39. This represents a $1.68 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, November 15th. Microsoft Corporation’s payout ratio is currently 57.78%.
In related news, insider Jean Philippe Courtois sold 26,763 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 544,080 shares in the company, valued at approximately $40,261,920. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider G Mason Morfit sold 7,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $72.56, for a total value of $507,920,000.00. 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 ninety days. Corporate insiders own 2.99% of the company’s stock.
MSFT has been the subject of several analyst reports. Canaccord Genuity upgraded Microsoft Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $76.00 to $86.00 in a report on Thursday. BidaskClub cut Microsoft Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Credit Suisse Group AG set a $84.00 price target on Microsoft Corporation and gave the stock a “buy” rating in a report on Friday, August 11th. Barclays PLC restated an “overweight” rating and set a $82.00 price objective (up previously from $77.00) on shares of Microsoft Corporation in a report on Friday, July 21st. Finally, Raymond James Financial, Inc. boosted their price objective on Microsoft Corporation to $84.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $77.44.
Microsoft Corporation Company Profile
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.
Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Corporation (NASDAQ:MSFT).
Receive News & Stock Ratings for Microsoft Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft Corporation and related stocks with our FREE daily email newsletter.