Microsoft Co. (MSFT) Holdings Reduced by Chesapeake Asset Management LLC
Chesapeake Asset Management LLC reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 3.5% in the third quarter, HoldingsChannel reports. The firm owned 64,814 shares of the software giant’s stock after selling 2,342 shares during the period. Microsoft comprises about 4.4% of Chesapeake Asset Management LLC’s investment portfolio, making the stock its 5th largest holding. Chesapeake Asset Management LLC’s holdings in Microsoft were worth $4,828,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of MSFT. Acrospire Investment Management LLC boosted its stake in shares of Microsoft by 300.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the software giant’s stock worth $110,000 after buying an additional 1,200 shares during the last quarter. Stelac Advisory Services LLC boosted its stake in shares of Microsoft by 23.5% in the 2nd quarter. Stelac Advisory Services LLC now owns 2,033 shares of the software giant’s stock worth $140,000 after buying an additional 387 shares during the last quarter. Pacific Center for Financial Services boosted its stake in shares of Microsoft by 3.0% in the 2nd quarter. Pacific Center for Financial Services now owns 2,572 shares of the software giant’s stock worth $177,000 after buying an additional 75 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in shares of Microsoft by 1.1% in 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 last quarter. Finally, Ruggie Capital Group boosted its stake in shares of Microsoft by 1,165.9% in the 2nd quarter. Ruggie Capital Group now owns 2,823 shares of the software giant’s stock worth $195,000 after buying an additional 2,600 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on MSFT. Sanford C. Bernstein restated an “outperform” rating and issued a $118.00 target price (up previously from $109.00) on shares of Microsoft in a research note on Thursday, February 1st. UBS Group set a $110.00 target price on Microsoft and gave the stock a “buy” rating in a research note on Thursday, February 1st. Macquarie set a $95.00 target price on Microsoft and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Jefferies Group set a $62.00 target price on Microsoft and gave the stock a “sell” rating in a research note on Thursday, February 1st. Finally, Morgan Stanley boosted their target price on Microsoft from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $99.14.
Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Wednesday, January 31st. The software giant reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.09. The firm had revenue of $28.92 billion for the quarter, compared to analysts’ expectations of $28.42 billion. Microsoft had a net margin of 11.72% and a return on equity of 35.41%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. research analysts expect that Microsoft Co. will post 3.62 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.88%. Microsoft’s payout ratio is currently 114.29%.
In related news, EVP Christopher C. Capossela sold 4,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $83.44, for a total value of $333,760.00. Following the transaction, the executive vice president now owns 184,278 shares of the company’s stock, valued at $15,376,156.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Frank H. Brod sold 18,000 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $83.15, for a total value of $1,496,700.00. The disclosure for this sale can be found here. Corporate insiders own 1.49% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2018/02/13/microsoft-co-msft-holdings-reduced-by-chesapeake-asset-management-llc.html.
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.
Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Co. (NASDAQ:MSFT).
Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.