Gulf International Bank UK Ltd reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,444,252 shares of the software giant’s stock after selling 2,679 shares during the quarter. Microsoft accounts for approximately 5.0% of Gulf International Bank UK Ltd’s holdings, making the stock its 2nd largest holding. Gulf International Bank UK Ltd’s holdings in Microsoft were worth $391,247,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in MSFT. TCI Fund Management Ltd. raised its holdings in shares of Microsoft by 43.1% during the 1st quarter. TCI Fund Management Ltd. now owns 20,483,405 shares of the software giant’s stock valued at $4,829,372,000 after buying an additional 6,168,906 shares during the period. Altshuler Shaham Ltd raised its holdings in shares of Microsoft by 14,603.6% during the 1st quarter. Altshuler Shaham Ltd now owns 4,430,203 shares of the software giant’s stock valued at $1,044,509,000 after buying an additional 4,400,073 shares during the period. Prentice Wealth Management LLC purchased a new stake in shares of Microsoft during the 1st quarter valued at about $3,002,000. Oak Ridge Investments LLC raised its holdings in shares of Microsoft by 1,065.0% during the 1st quarter. Oak Ridge Investments LLC now owns 2,969,169 shares of the software giant’s stock valued at $700,041,000 after buying an additional 2,714,303 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Microsoft by 2.1% during the 1st quarter. Geode Capital Management LLC now owns 120,231,394 shares of the software giant’s stock valued at $28,271,347,000 after buying an additional 2,433,232 shares during the period. Institutional investors and hedge funds own 69.17% of the company’s stock.
In other news, CFO Amy Hood sold 60,000 shares of the business’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $303.08, for a total value of $18,184,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Satya Nadella sold 75,573 shares of the business’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $303.28, for a total value of $22,919,779.44. Following the completion of the sale, the chief executive officer now directly owns 1,632,350 shares in the company, valued at approximately $495,059,108. The disclosure for this sale can be found here. Insiders have sold a total of 165,573 shares of company stock worth $50,066,379 in the last ninety days. 0.05% of the stock is owned by company insiders.
Microsoft (NASDAQ:MSFT) last released its quarterly earnings data on Monday, July 26th. The software giant reported $2.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.25. The business had revenue of $46.15 billion during the quarter, compared to analyst estimates of $44.30 billion. Microsoft had a return on equity of 45.76% and a net margin of 36.45%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 EPS. Research analysts anticipate that Microsoft Co. will post 8.61 EPS for the current fiscal year.
Microsoft announced that its board has approved a share buyback program on Tuesday, September 14th that permits the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization permits the software giant to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 9th. Shareholders of record on Thursday, November 18th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, November 17th. This represents a $2.48 annualized dividend and a yield of 0.83%. This is an increase from Microsoft’s previous quarterly dividend of $0.56. Microsoft’s payout ratio is presently 28.11%.
MSFT has been the topic of several analyst reports. BMO Capital Markets raised their target price on Microsoft from $290.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Wolfe Research lifted their price objective on Microsoft from $290.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Barclays lifted their price objective on Microsoft from $330.00 to $345.00 and gave the stock an “overweight” rating in a report on Friday, September 17th. They noted that the move was a valuation call. Mizuho restated a “buy” rating and set a $350.00 price objective (up from $325.00) on shares of Microsoft in a report on Friday, August 20th. Finally, Cowen lifted their price objective on Microsoft from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Two equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $324.84.
Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment comprises products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform.
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