Microsoft Co. (MSFT) Stake Raised by Impax Asset Management LLC
Impax Asset Management LLC grew its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 6.3% in the 1st quarter, Holdings Channel reports. The firm owned 450,644 shares of the software giant’s stock after purchasing an additional 26,661 shares during the quarter. Microsoft makes up approximately 2.4% of Impax Asset Management LLC’s investment portfolio, making the stock its largest position. Impax Asset Management LLC’s holdings in Microsoft were worth $41,131,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Osterweis Capital Management Inc. increased its holdings in Microsoft by 40.2% in the 1st quarter. Osterweis Capital Management Inc. now owns 427,300 shares of the software giant’s stock worth $39,000,000 after acquiring an additional 122,615 shares in the last quarter. Skye Global Management LP increased its holdings in Microsoft by 174.8% in the 1st quarter. Skye Global Management LP now owns 1,998,900 shares of the software giant’s stock worth $182,440,000 after acquiring an additional 1,271,400 shares in the last quarter. HC Financial Advisors Inc. purchased a new stake in Microsoft in the 4th quarter worth approximately $2,206,000. FCG Advisors LLC increased its holdings in Microsoft by 19.6% in the 1st quarter. FCG Advisors LLC now owns 25,098 shares of the software giant’s stock worth $2,291,000 after acquiring an additional 4,111 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Microsoft by 4.1% in the 1st quarter. American Century Companies Inc. now owns 14,905,083 shares of the software giant’s stock worth $1,360,387,000 after acquiring an additional 590,793 shares in the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.
Shares of MSFT opened at $108.21 on Friday. The company has a quick ratio of 2.86, a current ratio of 2.90 and a debt-to-equity ratio of 0.94. Microsoft Co. has a 1 year low of $72.92 and a 1 year high of $112.78. The company has a market cap of $837.28 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 2.08 and a beta of 1.26.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 16th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, August 15th. Microsoft’s dividend payout ratio (DPR) is currently 43.30%.
MSFT has been the subject of several analyst reports. Atlantic Securities raised shares of Microsoft from a “neutral” rating to an “overweight” rating in a report on Monday, June 25th. JPMorgan Chase & Co. set a $115.00 target price on shares of Microsoft and gave the stock a “buy” rating in a report on Friday, July 20th. Morgan Stanley reissued a “buy” rating and issued a $130.00 target price on shares of Microsoft in a report on Monday, June 11th. Argus increased their target price on shares of Microsoft from $116.00 to $128.00 and gave the stock a “$107.97” rating in a report on Monday, July 23rd. Finally, Credit Suisse Group set a $125.00 target price on shares of Microsoft and gave the stock a “buy” rating in a report on Monday, August 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. Microsoft has an average rating of “Buy” and an average price target of $119.49.
In other news, CFO Amy Hood sold 118,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $110.90, for a total transaction of $13,086,200.00. Following the completion of the transaction, the chief financial officer now directly owns 669,327 shares in the company, valued at approximately $74,228,364.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kathleen T. Hogan sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $111.31, for a total value of $4,452,400.00. Following the transaction, the executive vice president now owns 339,972 shares of the company’s stock, valued at $37,842,283.32. The disclosure for this sale can be found here. Insiders have sold a total of 590,880 shares of company stock valued at $64,833,269 over the last quarter. Corporate insiders own 1.49% of the company’s stock.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates through Productivity and Business Processes, Intelligent Cloud, and More Personal Computing segments. The Productivity and Business Processes segment offers Office 365 commercial products and services for businesses, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.
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