Microsoft Corp. (MSFT) Stake Increased by Mcrae Capital Management Inc.
Mcrae Capital Management Inc. boosted its position in Microsoft Corp. (NASDAQ:MSFT) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,589 shares of the software giant’s stock after buying an additional 1,918 shares during the period. Microsoft Corp. accounts for 4.0% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 5th largest position. Mcrae Capital Management Inc.’s holdings in Microsoft Corp. were worth $8,729,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. increased its position in shares of Microsoft Corp. by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 208,079,583 shares of the software giant’s stock worth $11,492,235,000 after buying an additional 1,784,020 shares in the last quarter. BlackRock Group LTD increased its position in shares of Microsoft Corp. by 4.6% in the first quarter. BlackRock Group LTD now owns 65,277,591 shares of the software giant’s stock worth $3,605,281,000 after buying an additional 2,858,044 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Microsoft Corp. by 0.7% in the first quarter. TIAA CREF Investment Management LLC now owns 46,101,471 shares of the software giant’s stock worth $2,546,184,000 after buying an additional 317,949 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Microsoft Corp. by 0.4% in the second quarter. Fisher Asset Management LLC now owns 18,300,756 shares of the software giant’s stock worth $962,437,000 after buying an additional 80,138 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Microsoft Corp. by 32.0% in the second quarter. American Century Companies Inc. now owns 15,976,699 shares of the software giant’s stock worth $817,528,000 after buying an additional 3,870,851 shares in the last quarter. Hedge funds and other institutional investors own 71.58% of the company’s stock.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 0.16% during trading on Friday, hitting $57.83. 11,115,357 shares of the stock traded hands. The firm has a market cap of $450.64 billion, a P/E ratio of 27.54 and a beta of 1.09. Microsoft Corp. has a 52 week low of $46.50 and a 52 week high of $58.70. The company has a 50-day moving average of $57.47 and a 200-day moving average of $54.31.
Microsoft Corp. (NASDAQ:MSFT) last posted its quarterly earnings data on Tuesday, July 19th. The software giant reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.11. The company had revenue of $22.60 billion for the quarter, compared to analyst estimates of $22.15 billion. Microsoft Corp. had a return on equity of 29.38% and a net margin of 19.33%. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, analysts forecast that Microsoft Corp. will post $2.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be paid a $0.39 dividend. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.36. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Tuesday, November 15th. Microsoft Corp.’s payout ratio is currently 70.24%.
MSFT has been the subject of several research analyst reports. Vetr upgraded shares of Microsoft Corp. from a “buy” rating to a “strong-buy” rating and set a $57.64 target price for the company in a research note on Monday, July 11th. Sanford C. Bernstein set a $68.00 target price on shares of Microsoft Corp. and gave the stock a “buy” rating in a report on Friday, July 15th. Citigroup Inc. upped their target price on shares of Microsoft Corp. from $36.00 to $37.00 and gave the stock a “sell” rating in a report on Thursday, July 7th. Stifel Nicolaus upped their target price on shares of Microsoft Corp. from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $65.00 target price on shares of Microsoft Corp. in a report on Saturday, June 25th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. Microsoft Corp. currently has an average rating of “Buy” and an average target price of $59.41.
In related news, insider G Mason Morfit sold 18,000,000 shares of Microsoft Corp. stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $56.12, for a total value of $1,010,160,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Satya Nadella sold 143,000 shares of Microsoft Corp. stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $57.97, for a total value of $8,289,710.00. Following the completion of the transaction, the chief executive officer now directly owns 1,200,822 shares in the company, valued at $69,611,651.34. The disclosure for this sale can be found here. 3.76% of the stock is owned by corporate 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.
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