Rehmann Capital Advisory Group Decreases Stake in Microsoft Co. (MSFT)
Rehmann Capital Advisory Group cut its holdings in Microsoft Co. (NASDAQ:MSFT) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 42,189 shares of the software giant’s stock after selling 691 shares during the period. Microsoft comprises approximately 0.7% of Rehmann Capital Advisory Group’s holdings, making the stock its 29th biggest position. Rehmann Capital Advisory Group’s holdings in Microsoft were worth $4,825,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Peak Capital Management LLC acquired a new position in Microsoft during the 2nd quarter valued at about $107,000. Woodard & Co. Asset Management Group Inc. ADV boosted its stake in Microsoft by 90.5% during the 3rd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 1,048 shares of the software giant’s stock valued at $119,000 after purchasing an additional 498 shares during the period. Quattro Financial Advisors LLC acquired a new position in Microsoft during the 3rd quarter valued at about $132,000. LFA Lugano Financial Advisors SA acquired a new position in Microsoft during the 2nd quarter valued at about $139,000. Finally, O Brien Wealth Partners LLC boosted its stake in Microsoft by 456.8% during the 3rd quarter. O Brien Wealth Partners LLC now owns 1,726 shares of the software giant’s stock valued at $197,000 after purchasing an additional 1,416 shares during the period. 71.97% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on MSFT shares. Oppenheimer set a $127.00 price target on shares of Microsoft and gave the stock a “buy” rating in a research note on Monday, November 19th. Credit Suisse Group set a $125.00 price target on shares of Microsoft and gave the stock a “buy” rating in a research note on Sunday, December 23rd. ValuEngine lowered shares of Microsoft from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Sanford C. Bernstein set a $137.00 price target on shares of Microsoft and gave the stock a “buy” rating in a research note on Thursday, January 31st. Finally, Jefferies Financial Group reaffirmed a “sell” rating and issued a $75.00 price target on shares of Microsoft in a research note on Monday, November 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $122.51.
Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Wednesday, January 30th. The software giant reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.01. Microsoft had a net margin of 28.31% and a return on equity of 39.52%. The business had revenue of $32.47 billion for the quarter, compared to analyst estimates of $32.53 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Microsoft Co. will post 4.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.56%. Microsoft’s dividend payout ratio is currently 47.42%.
In other news, insider Jean Philippe Courtois sold 28,147 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $108.14, for a total transaction of $3,043,816.58. Following the sale, the insider now owns 497,162 shares in the company, valued at $53,763,098.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Satya Nadella sold 267,466 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $106.01, for a total transaction of $28,354,070.66. Following the sale, the chief executive officer now owns 1,746,854 shares in the company, valued at approximately $185,183,992.54. The disclosure for this sale can be found here. Insiders have sold 333,667 shares of company stock worth $35,657,016 in the last 90 days. 1.38% of the stock is owned by company insiders.
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Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, 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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