Adams Asset Advisors LLC Sells 3,943 Shares of Microsoft Corp. (MSFT)
Adams Asset Advisors LLC cut its stake in shares of Microsoft Corp. (NASDAQ:MSFT) by 6.2% during the second quarter, Holdings Channel reports. The fund owned 59,659 shares of the software giant’s stock after selling 3,943 shares during the period. Adams Asset Advisors LLC’s holdings in Microsoft Corp. were worth $3,052,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Northstar Group Inc. boosted its stake in shares of Microsoft Corp. by 0.4% in the second quarter. Northstar Group Inc. now owns 3,953 shares of the software giant’s stock valued at $202,000 after buying an additional 14 shares during the last quarter. McQueen Ball & Associates Inc. boosted its stake in shares of 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. Palisade Capital Management LLC NJ boosted its stake in shares of Microsoft Corp. by 0.4% in the first quarter. Palisade Capital Management LLC NJ now owns 6,744 shares of the software giant’s stock valued at $372,000 after buying an additional 27 shares during the last quarter. First United Bank Trust boosted its stake in shares of Microsoft Corp. by 0.6% in the second quarter. First United Bank Trust now owns 7,931 shares of the software giant’s stock valued at $406,000 after buying an additional 50 shares during the last quarter. Finally, West Oak Capital LLC boosted its stake in shares of Microsoft Corp. by 1.1% in the second quarter. West Oak Capital LLC now owns 9,010 shares of the software giant’s stock valued at $461,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 71.58% of the company’s stock.
Microsoft Corp. (NASDAQ:MSFT) traded up 0.88% during trading on Friday, reaching $57.42. 27,402,451 shares of the company’s stock were exchanged. The company has a market capitalization of $447.45 billion, a PE ratio of 27.34 and a beta of 1.09. The company’s 50-day moving average is $57.40 and its 200-day moving average is $54.45. Microsoft Corp. has a 1-year low of $47.02 and a 1-year high of $58.70.
Microsoft Corp. (NASDAQ:MSFT) last released its earnings results on Tuesday, July 19th. The software giant reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earned $22.60 billion during the quarter, compared to the consensus estimate of $22.15 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. Equities research analysts expect that Microsoft Corp. will post $2.89 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be given a $0.39 dividend. This is an increase 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 yield of 2.72%. Microsoft Corp.’s dividend payout ratio is presently 70.24%.
A number of research firms have weighed in on MSFT. Vetr upgraded Microsoft Corp. from a “buy” rating to a “strong-buy” rating and set a $57.32 price target on the stock in a research note on Tuesday, July 5th. Wunderlich raised their price target on Microsoft Corp. from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, July 20th. Sanford C. Bernstein set a $68.00 price target on Microsoft Corp. and gave the company a “buy” rating in a research note on Monday, June 27th. Nomura restated a “buy” rating and issued a $65.00 price target on shares of Microsoft Corp. in a research note on Thursday, July 28th. Finally, Credit Agricole SA restated an “outperform” rating and issued a $60.00 price target on shares of Microsoft Corp. in a research note on Wednesday, October 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $59.55.
In other Microsoft Corp. 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 value of $8,289,710.00. Following the completion of the sale, the chief executive officer now owns 1,200,822 shares in the company, valued at approximately $69,611,651.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy Hood sold 120,000 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $57.86, for a total transaction of $6,943,200.00. Following the completion of the sale, the chief financial officer now owns 523,425 shares of the company’s stock, valued at approximately $30,285,370.50. The disclosure for this sale can be found here. 3.76% of the stock is currently owned by company 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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