Eqis Capital Management Inc. Buys 2,699 Shares of Microsoft Corporation (MSFT)
Eqis Capital Management Inc. increased its stake in Microsoft Corporation (NASDAQ:MSFT) by 6.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,826 shares of the software giant’s stock after acquiring an additional 2,699 shares during the quarter. Eqis Capital Management Inc.’s holdings in Microsoft Corporation were worth $3,090,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Gierl Augustine Investment Management Inc grew its holdings in shares of Microsoft Corporation by 0.3% in the 1st quarter. Gierl Augustine Investment Management Inc now owns 4,034 shares of the software giant’s stock worth $266,000 after acquiring an additional 13 shares during the last quarter. New Capital Management LP grew its holdings in shares of Microsoft Corporation by 0.5% in the 1st quarter. New Capital Management LP now owns 4,305 shares of the software giant’s stock worth $284,000 after acquiring an additional 22 shares during the last quarter. Syntal Capital Partners LLC grew its holdings in shares of Microsoft Corporation by 0.8% in the 1st quarter. Syntal Capital Partners LLC now owns 8,121 shares of the software giant’s stock worth $534,000 after acquiring an additional 64 shares during the last quarter. Summit Asset Management LLC grew its holdings in shares of Microsoft Corporation by 0.7% in the 1st quarter. Summit Asset Management LLC now owns 10,706 shares of the software giant’s stock worth $705,000 after acquiring an additional 76 shares during the last quarter. Finally, TrueNorth Inc. grew its holdings in shares of Microsoft Corporation by 0.6% in the 1st quarter. TrueNorth Inc. now owns 17,748 shares of the software giant’s stock worth $1,169,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 73.37% of the company’s stock.
Shares of Microsoft Corporation (MSFT) traded down 0.28% during trading on Tuesday, reaching $77.43. 8,545,528 shares of the company were exchanged. The firm has a market cap of $596.38 billion, a price-to-earnings ratio of 28.57 and a beta of 1.01. Microsoft Corporation has a 52-week low of $56.66 and a 52-week high of $77.87. The stock’s 50-day moving average is $74.73 and its 200-day moving average is $71.14.
Microsoft Corporation (NASDAQ:MSFT) last announced its quarterly earnings data 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. The business had revenue of $24.70 billion during the quarter, compared to analysts’ expectations of $24.29 billion. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Equities research analysts predict that Microsoft Corporation will post $3.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Wednesday, November 15th. This is a boost from Microsoft Corporation’s previous quarterly dividend of $0.39. Microsoft Corporation’s dividend payout ratio (DPR) is presently 57.78%.
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A number of equities analysts recently issued reports on MSFT shares. Morgan Stanley set a $80.00 target price on Microsoft Corporation and gave the stock a “buy” rating in a report on Monday, June 19th. Cleveland Research started coverage on Microsoft Corporation in a report on Thursday, June 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Morningstar, Inc. restated a “buy” rating on shares of Microsoft Corporation in a report on Wednesday, June 28th. Stifel Nicolaus restated a “buy” rating and issued a $73.00 target price on shares of Microsoft Corporation in a report on Sunday, July 9th. Finally, Royal Bank Of Canada set a $77.00 target price on Microsoft Corporation and gave the stock a “buy” rating in a report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $77.44.
In related news, CFO Amy Hood sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $72.71, for a total transaction of $3,999,050.00. Following the completion of the sale, the chief financial officer now owns 510,217 shares in the company, valued at $37,097,878.07. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $72.56, for a total value of $507,920,000.00. The disclosure for this sale can be found here. Insiders sold a total of 7,108,526 shares of company stock valued at $515,879,974 in the last quarter. Company insiders own 2.99% of the company’s stock.
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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