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Cubic Asset Management LLC trimmed its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 14.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 55,333 shares of the software giant’s stock after selling 9,090 shares during the period. Microsoft makes up about 4.0% of Cubic Asset Management LLC’s investment portfolio, making the stock its biggest position. Cubic Asset Management LLC’s holdings in Microsoft were worth $17,060,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in MSFT. ACT Wealth Management LLC lifted its holdings in Microsoft by 0.8% in the fourth quarter. ACT Wealth Management LLC now owns 4,097 shares of the software giant’s stock valued at $1,378,000 after acquiring an additional 34 shares during the period. Wealth Enhancement & Preservation of GA LLC lifted its holdings in Microsoft by 0.7% in the fourth quarter. Wealth Enhancement & Preservation of GA LLC now owns 4,995 shares of the software giant’s stock valued at $1,680,000 after acquiring an additional 34 shares during the period. Hanlon Investment Management Inc. lifted its holdings in Microsoft by 1.2% in the fourth quarter. Hanlon Investment Management Inc. now owns 2,868 shares of the software giant’s stock valued at $965,000 after acquiring an additional 35 shares during the period. KB Financial Partners LLC lifted its holdings in Microsoft by 0.5% in the fourth quarter. KB Financial Partners LLC now owns 7,148 shares of the software giant’s stock valued at $2,404,000 after acquiring an additional 35 shares during the period. Finally, Valtinson Bruner Financial Planning LLC lifted its holdings in Microsoft by 0.9% in the first quarter. Valtinson Bruner Financial Planning LLC now owns 4,238 shares of the software giant’s stock valued at $1,186,000 after acquiring an additional 37 shares during the period. 69.99% of the stock is owned by hedge funds and other institutional investors.
Microsoft Price Performance
Shares of MSFT opened at $260.36 on Friday. Microsoft Co. has a fifty-two week low of $241.51 and a fifty-two week high of $349.67. The firm’s 50 day moving average price is $260.39 and its 200 day moving average price is $283.19. The company has a market cap of $1.95 trillion, a P/E ratio of 27.18, a PEG ratio of 2.05 and a beta of 0.93. The company has a quick ratio of 1.95, a current ratio of 1.99 and a debt-to-equity ratio of 0.30.
Microsoft (NASDAQ:MSFT – Get Rating) last announced its earnings results on Tuesday, April 26th. The software giant reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.04. Microsoft had a net margin of 37.63% and a return on equity of 44.85%. The firm had revenue of $49.36 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the firm earned $1.95 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, research analysts forecast that Microsoft Co. will post 9.27 earnings per share for the current fiscal year.
Microsoft Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $2.48 dividend on an annualized basis and a yield of 0.95%. Microsoft’s dividend payout ratio is currently 25.89%.
Wall Street Analyst Weigh In
Several analysts have commented on MSFT shares. Wolfe Research raised their price objective on Microsoft from $330.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, April 27th. Fundamental Research reduced their target price on Microsoft from $299.93 to $298.00 and set a “hold” rating for the company in a report on Tuesday, May 3rd. Deutsche Bank Rese… set a $350.00 target price on Microsoft in a report on Monday, July 18th. Stifel Nicolaus lowered their target price on Microsoft from $350.00 to $320.00 in a report on Thursday, June 2nd. Finally, Evercore ISI lowered their target price on Microsoft from $370.00 to $330.00 and set an “inline” rating on the stock in a report on Wednesday, April 27th. One investment analyst has rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to data from MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and a consensus target price of $346.52.
About Microsoft
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.
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