Gemmer Asset Management LLC Boosts Holdings in Microsoft Co. (MSFT)
Gemmer Asset Management LLC boosted its stake in Microsoft Co. (NASDAQ:MSFT) by 31.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,745 shares of the software giant’s stock after purchasing an additional 2,308 shares during the quarter. Gemmer Asset Management LLC’s holdings in Microsoft were worth $889,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of MSFT. BlackRock Inc. lifted its position in shares of Microsoft by 1.3% during the first quarter. BlackRock Inc. now owns 499,849,770 shares of the software giant’s stock valued at $45,621,287,000 after purchasing an additional 6,488,089 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Microsoft by 12.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 27,839,945 shares of the software giant’s stock valued at $2,540,952,000 after purchasing an additional 3,049,723 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Microsoft by 1.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 21,899,699 shares of the software giant’s stock valued at $1,998,786,000 after purchasing an additional 346,564 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Microsoft by 7.6% during the first quarter. Dimensional Fund Advisors LP now owns 20,956,647 shares of the software giant’s stock valued at $1,912,713,000 after purchasing an additional 1,473,682 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Microsoft by 0.5% during the fourth quarter. California Public Employees Retirement System now owns 18,709,029 shares of the software giant’s stock valued at $1,600,370,000 after purchasing an additional 91,553 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.
In other Microsoft news, Director Sandra E. Peterson purchased 5,400 shares of the stock in a transaction dated Tuesday, June 5th. The shares were bought at an average price of $101.96 per share, with a total value of $550,584.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $550,584. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher C. Capossela sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $100.99, for a total transaction of $1,009,900.00. Following the completion of the sale, the executive vice president now directly owns 158,601 shares in the company, valued at approximately $16,017,114.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 442,880 shares of company stock worth $48,304,569. Insiders own 1.49% of the company’s stock.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Thursday, July 19th. The software giant reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. The business had revenue of $30.09 billion for the quarter, compared to analyst estimates of $29.23 billion. Microsoft had a net margin of 15.02% and a return on equity of 36.69%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. research analysts predict that Microsoft Co. will post 4.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 16th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.50%. The ex-dividend date is Wednesday, August 15th. Microsoft’s dividend payout ratio is 43.30%.
A number of research analysts recently weighed in on MSFT shares. Royal Bank of Canada reissued a “$104.40” rating and set a $115.00 price target on shares of Microsoft in a research report on Thursday, July 19th. Credit Suisse Group reissued a “$105.12” rating and set a $115.00 price target on shares of Microsoft in a research report on Wednesday, July 18th. Deutsche Bank reissued a “$105.12” rating on shares of Microsoft in a research report on Wednesday, July 18th. Argus raised their price target on shares of Microsoft from $116.00 to $128.00 and gave the company a “$107.97” rating in a research report on Monday, July 23rd. Finally, MED reissued a “buy” rating on shares of Microsoft in a research report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $118.11.
Microsoft Company Profile
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates through Productivity and Business Processes, Intelligent Cloud, and More Personal Computing segments. The Productivity and Business Processes segment offers Office 365 commercial products and services for businesses, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.
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