Microsoft Corp. (MSFT) Position Boosted by Ballentine Partners LLC
Ballentine Partners LLC raised its stake in shares of Microsoft Corp. (NASDAQ:MSFT) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 38,330 shares of the software giant’s stock after buying an additional 364 shares during the period. Ballentine Partners LLC’s holdings in Microsoft Corp. were worth $1,962,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Northstar Group Inc. raised its position 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 period. McQueen Ball & Associates Inc. raised its position 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 period. Palisade Capital Management LLC NJ raised its position 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 period. Lowe fs LLC raised its position in shares of Microsoft Corp. by 1.4% in the second quarter. Lowe fs LLC now owns 3,206 shares of the software giant’s stock valued at $164,000 after buying an additional 44 shares during the period. Finally, First United Bank Trust raised its position 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 period. 71.69% of the stock is currently owned by hedge funds and other institutional investors.
Microsoft Corp. (NASDAQ:MSFT) traded up 0.79% during mid-day trading on Tuesday, hitting $57.67. The company’s stock had a trading volume of 5,639,861 shares. The firm’s 50-day moving average is $57.38 and its 200-day moving average is $54.46. Microsoft Corp. has a 12-month low of $47.02 and a 12-month high of $58.70. The company has a market cap of $449.39 billion, a P/E ratio of 27.46 and a beta of 1.09.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be issued 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 2.73%. Microsoft Corp.’s payout ratio is presently 70.24%.
Several equities research analysts have recently commented on MSFT shares. Cowen and Company restated an “outperform” rating and set a $60.00 price objective on shares of Microsoft Corp. in a report on Friday, September 30th. Credit Agricole SA restated an “outperform” rating and set a $60.00 price objective on shares of Microsoft Corp. in a report on Wednesday, October 5th. Vetr upgraded Microsoft Corp. from a “hold” rating to a “buy” rating and set a $59.88 price objective for the company in a report on Thursday, September 8th. Goldman Sachs Group Inc. set a $55.00 price objective on Microsoft Corp. and gave the company a “neutral” rating in a report on Wednesday, June 29th. Finally, Jefferies Group set a $40.00 price objective on Microsoft Corp. and gave the company a “sell” rating in a report on Tuesday, September 27th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company. Microsoft Corp. presently has an average rating of “Buy” and an average target price of $59.62.
In other Microsoft Corp. news, CFO Amy Hood sold 120,000 shares of the company’s stock in a transaction 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 in the company, valued at $30,285,370.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William H. Gates III sold 2,500,000 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $55.94, for a total value of $139,850,000.00. 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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