Equity Investment Corp GA Sells 50,019 Shares of Microsoft Corp. (MSFT)
Equity Investment Corp GA cut its position in shares of Microsoft Corp. (NASDAQ:MSFT) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,833,363 shares of the software giant’s stock after selling 50,019 shares during the period. Microsoft Corp. comprises approximately 2.9% of Equity Investment Corp GA’s investment portfolio, making the stock its 18th largest position. Equity Investment Corp GA’s holdings in Microsoft Corp. were worth $93,813,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. West Coast Financial LLC acquired a new position in Microsoft Corp. during the second quarter worth approximately $245,000. Carnegie Capital Asset Management LLC increased its stake in shares of Microsoft Corp. by 0.3% in the second quarter. Carnegie Capital Asset Management LLC now owns 197,931 shares of the software giant’s stock valued at $11,134,000 after buying an additional 533 shares during the last quarter. Arrow Financial Corp increased its stake in shares of Microsoft Corp. by 0.4% in the second quarter. Arrow Financial Corp now owns 146,953 shares of the software giant’s stock valued at $7,520,000 after buying an additional 582 shares during the last quarter. Peak Asset Management LLC increased its stake in shares of Microsoft Corp. by 2.9% in the second quarter. Peak Asset Management LLC now owns 146,568 shares of the software giant’s stock valued at $7,500,000 after buying an additional 4,134 shares during the last quarter. Finally, United Asset Strategies Inc. increased its stake in shares of Microsoft Corp. by 23.0% in the second quarter. United Asset Strategies Inc. now owns 14,225 shares of the software giant’s stock valued at $728,000 after buying an additional 2,661 shares during the last quarter. Institutional investors own 71.58% of the company’s stock.
Microsoft Corp. (NASDAQ:MSFT) traded up 0.35% during mid-day trading on Friday, hitting $57.60. 29,910,788 shares of the company were exchanged. The company has a market cap of $448.85 billion, a price-to-earnings ratio of 27.43 and a beta of 1.08. Microsoft Corp. has a 12-month low of $45.70 and a 12-month high of $58.70. The stock’s 50 day moving average is $57.50 and its 200-day moving average is $54.21.
Microsoft Corp. (NASDAQ:MSFT) last released its quarterly earnings results on Tuesday, July 19th. The software giant reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.11. Microsoft Corp. had a net margin of 19.33% and a return on equity of 29.38%. The company had revenue of $22.60 billion for the quarter, compared to analyst estimates of $22.15 billion. During the same quarter last year, the firm posted $0.60 earnings per share. Equities research analysts predict that Microsoft Corp. will post $2.89 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be given a $0.39 dividend. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.71%. Microsoft Corp.’s dividend payout ratio (DPR) is currently 70.24%.
Several brokerages have recently weighed in on MSFT. Deutsche Bank AG reaffirmed a “buy” rating and issued a $65.00 target price on shares of Microsoft Corp. in a report on Wednesday. Vetr downgraded shares of Microsoft Corp. from a “buy” rating to a “hold” rating and set a $59.96 target price on the stock. in a report on Wednesday, September 21st. Cowen and Company reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Microsoft Corp. in a report on Friday. Macquarie reaffirmed a “neutral” rating and issued a $54.00 target price on shares of Microsoft Corp. in a report on Friday, September 23rd. Finally, Pacific Crest reaffirmed a “buy” rating and issued a $65.00 target price on shares of Microsoft Corp. in a report on Tuesday, September 13th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $59.41.
In other news, CFO Amy Hood sold 120,000 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $57.86, for a total value of $6,943,200.00. Following the sale, the chief financial officer now owns 523,425 shares in the company, valued at $30,285,370.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider G Mason Morfit sold 18,000,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $56.12, for a total transaction of $1,010,160,000.00. The disclosure for this sale can be found here. 3.76% of the stock is currently owned by insiders.
About Microsoft Corp.
Microsoft Corporation is a technology company. The Company develops, licenses and supports a range of software products, services and devices. Its segments are Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Its 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.
Receive News & Ratings for Microsoft Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft Corp. and related companies with MarketBeat.com's FREE daily email newsletter.