First Command Bank Raises Stake in Microsoft Corporation (MSFT)
First Command Bank lifted its position in Microsoft Corporation (NASDAQ:MSFT) by 50.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,143 shares of the software giant’s stock after purchasing an additional 6,718 shares during the quarter. Microsoft Corporation comprises about 0.5% of First Command Bank’s investment portfolio, making the stock its 28th biggest position. First Command Bank’s holdings in Microsoft Corporation were worth $1,388,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Hefty Wealth Partners increased its holdings in shares of Microsoft Corporation by 65.6% in the second quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock worth $113,000 after purchasing an additional 653 shares during the last quarter. Asset Planning Services Ltd. increased its holdings in shares of Microsoft Corporation by 93.0% in the first quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after purchasing an additional 837 shares during the last quarter. Ullmann Financial Group Inc. bought a new stake in shares of Microsoft Corporation in the first quarter worth about $132,000. Arcus Capital Partners LLC bought a new stake in shares of Microsoft Corporation in the first quarter worth about $205,000. Finally, Schneider Downs Wealth Management Advisors LP bought a new stake in shares of Microsoft Corporation in the first quarter worth about $209,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.
Microsoft Corporation (NASDAQ MSFT) traded down 0.43% during midday trading on Thursday, reaching $74.62. 6,583,195 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $73.41 and its 200-day moving average price is $69.80. The company has a market capitalization of $574.74 billion, a PE ratio of 27.54 and a beta of 1.00. Microsoft Corporation has a 1-year low of $56.32 and a 1-year high of $75.97. Microsoft Corporation also saw some unusual options trading activity on Wednesday. Investors purchased 29,563 put options on the stock. This is an increase of approximately 118% compared to the average volume of 13,565 put options.
Microsoft Corporation (NASDAQ:MSFT) last announced its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.27. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The company had revenue of $24.70 billion for the quarter, compared to the consensus estimate of $24.29 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts expect that Microsoft Corporation will post $3.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, November 15th. This is an increase from Microsoft Corporation’s previous quarterly dividend of $0.39. Microsoft Corporation’s dividend payout ratio is 57.78%.
In other news, CFO Amy Hood sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $72.71, for a total value of $3,999,050.00. Following the completion of the transaction, the chief financial officer now owns 510,217 shares of the company’s stock, valued at $37,097,878.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider G Mason Morfit sold 7,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $72.56, for a total transaction of $507,920,000.00. The disclosure for this sale can be found here. Insiders sold 7,108,526 shares of company stock worth $515,879,974 in the last ninety days. Insiders own 2.99% of the company’s stock.
MSFT has been the subject of several recent research reports. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $88.00 price target (up previously from $78.00) on shares of Microsoft Corporation in a research report on Tuesday, July 18th. Bank of America Corporation reiterated a “buy” rating and issued a $75.00 price target on shares of Microsoft Corporation in a research report on Friday, June 16th. Vetr upgraded Microsoft Corporation from a “hold” rating to a “buy” rating and set a $74.61 price target for the company in a research report on Monday, June 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $73.00 price target on shares of Microsoft Corporation in a research report on Monday, July 17th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Microsoft Corporation in a research report on Thursday, August 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $76.72.
Microsoft Corporation Company Profile
Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s 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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