QCI Asset Management Inc. NY Has $13.95 Million Position in Microsoft Co. (MSFT)
QCI Asset Management Inc. NY decreased its position in shares of Microsoft Co. (NASDAQ:MSFT) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 187,296 shares of the software giant’s stock after selling 1,924 shares during the period. QCI Asset Management Inc. NY’s holdings in Microsoft were worth $13,952,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nottingham Advisors Inc. increased its stake in Microsoft by 0.4% during the 2nd quarter. Nottingham Advisors Inc. now owns 5,399 shares of the software giant’s stock worth $372,000 after buying an additional 22 shares during the period. Carderock Capital Management Inc. increased its stake in Microsoft by 0.7% during the 2nd quarter. Carderock Capital Management Inc. now owns 3,981 shares of the software giant’s stock worth $274,000 after buying an additional 26 shares during the period. AlphaMark Advisors LLC increased its stake in Microsoft by 1.1% during the 2nd quarter. AlphaMark Advisors LLC now owns 2,677 shares of the software giant’s stock worth $185,000 after buying an additional 30 shares during the period. Bank of Stockton increased its stake in Microsoft by 0.3% during the 2nd quarter. Bank of Stockton now owns 13,396 shares of the software giant’s stock worth $922,000 after buying an additional 36 shares during the period. Finally, Simonbaker & Partners LLC increased its stake in Microsoft by 0.4% during the 2nd quarter. Simonbaker & Partners LLC now owns 11,364 shares of the software giant’s stock worth $783,000 after buying an additional 40 shares during the period. 73.22% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Frank H. Brod sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $83.15, for a total transaction of $1,496,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christopher C. Capossela sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $83.44, for a total transaction of $333,760.00. Following the sale, the executive vice president now owns 184,278 shares in the company, valued at approximately $15,376,156.32. The disclosure for this sale can be found here. Insiders sold a total of 26,000 shares of company stock worth $2,164,380 over the last quarter. Insiders own 1.49% of the company’s stock.
Microsoft (NASDAQ:MSFT) last released its earnings results on Wednesday, January 31st. The software giant reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. Microsoft had a net margin of 11.72% and a return on equity of 35.41%. The business had revenue of $28.92 billion for the quarter, compared to the consensus estimate of $28.42 billion. During the same period in the previous year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. analysts predict that Microsoft Co. will post 3.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.91%. Microsoft’s payout ratio is currently 114.29%.
MSFT has been the subject of several research analyst reports. Morningstar reissued a “neutral” rating on shares of Microsoft in a research report on Monday, October 16th. Royal Bank of Canada set a $85.00 target price on shares of Microsoft and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Goldman Sachs Group set a $88.00 target price on shares of Microsoft and gave the stock a “buy” rating in a research report on Thursday, October 19th. Stifel Nicolaus boosted their target price on shares of Microsoft from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, KeyCorp reissued a “buy” rating and issued a $94.00 target price on shares of Microsoft in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $99.14.
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Microsoft 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.
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