LaSalle Street Capital Management LLC Maintains Stake in Microsoft Corp. (MSFT)
LaSalle Street Capital Management LLC maintained its stake in Microsoft Corp. (NASDAQ:MSFT) during the second quarter, Holdings Channel reports. The fund owned 38,200 shares of the software giant’s stock at the end of the second quarter. Microsoft Corp. makes up about 1.9% of LaSalle Street Capital Management LLC’s portfolio, making the stock its 20th largest position. LaSalle Street Capital Management LLC’s holdings in Microsoft Corp. were worth $1,955,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of MSFT. V Wealth Management LLC purchased a new position in Microsoft Corp. during the first quarter valued at $552,000. Sigma Planning Corp increased its position in Microsoft Corp. by 23.7% in the first quarter. Sigma Planning Corp now owns 101,845 shares of the software giant’s stock valued at $5,625,000 after buying an additional 19,501 shares during the last quarter. Country Trust Bank increased its position in Microsoft Corp. by 7.0% in the first quarter. Country Trust Bank now owns 694,033 shares of the software giant’s stock valued at $38,331,000 after buying an additional 45,671 shares during the last quarter. Gillespie Robinson & Grimm Inc. increased its position in Microsoft Corp. by 33.4% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 14,368 shares of the software giant’s stock valued at $800,000 after buying an additional 3,601 shares during the last quarter. Finally, McQueen Ball & Associates Inc. increased its position in Microsoft Corp. by 0.3% in the first quarter. McQueen Ball & Associates Inc. now owns 8,429 shares of the software giant’s stock valued at $466,000 after buying an additional 25 shares during the last quarter. 71.58% of the stock is owned by institutional investors and hedge funds.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 0.88% during midday trading on Friday, reaching $57.42. The company had a trading volume of 27,402,451 shares. Microsoft Corp. has a 12 month low of $47.02 and a 12 month high of $58.70. The firm’s 50 day moving average price is $57.40 and its 200-day moving average price is $54.45. The company has a market capitalization of $447.45 billion, a P/E ratio of 27.34 and a beta of 1.09.
Microsoft Corp. (NASDAQ:MSFT) last posted its quarterly earnings results on Tuesday, July 19th. The software giant reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm earned $22.60 billion during the quarter, compared to analyst estimates of $22.15 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. Analysts anticipate that Microsoft Corp. will post $2.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.72%. This is a boost from Microsoft Corp.’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, November 15th. Microsoft Corp.’s dividend payout ratio is currently 70.24%.
Several research firms recently weighed in on MSFT. BMO Capital Markets reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Microsoft Corp. in a research note on Sunday, July 17th. Nomura reaffirmed a “buy” rating on shares of Microsoft Corp. in a research note on Sunday, July 17th. Vetr raised Microsoft Corp. from a “hold” rating to a “buy” rating and set a $59.88 price objective for the company in a research note on Thursday, September 8th. Citigroup Inc. raised their price objective on Microsoft Corp. from $37.00 to $40.00 and gave the company a “sell” rating in a research note on Wednesday, July 20th. Finally, Sanford C. Bernstein set a $68.00 price objective on Microsoft Corp. and gave the company a “buy” rating in a research note on Monday, June 27th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $59.55.
In other news, CEO Satya Nadella sold 143,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $57.97, for a total transaction of $8,289,710.00. Following the sale, the chief executive officer now directly owns 1,200,822 shares of the company’s stock, valued at $69,611,651.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy Hood sold 120,000 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $57.86, for a total transaction of $6,943,200.00. Following the sale, the chief financial officer now directly owns 523,425 shares in the company, valued at $30,285,370.50. The disclosure for this sale can be found here. Company insiders own 3.76% of the company’s stock.
Microsoft Corp. Company Profile
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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