Kanawha Capital Management LLC Trims Stake in Microsoft Co. (MSFT)
Kanawha Capital Management LLC reduced its position in shares of Microsoft Co. (NASDAQ:MSFT) by 0.5% during the 2nd quarter, Holdings Channel reports. The firm owned 234,521 shares of the software giant’s stock after selling 1,164 shares during the quarter. Microsoft accounts for about 3.4% of Kanawha Capital Management LLC’s holdings, making the stock its biggest position. Kanawha Capital Management LLC’s holdings in Microsoft were worth $23,126,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. WP Advisors LLC bought a new stake in Microsoft in the second quarter valued at approximately $131,000. Live Your Vision LLC boosted its holdings in Microsoft by 58.7% in the second quarter. Live Your Vision LLC now owns 1,376 shares of the software giant’s stock valued at $140,000 after acquiring an additional 509 shares during the last quarter. CX Institutional bought a new stake in Microsoft in the second quarter valued at approximately $145,000. Spectrum Financial Alliance Ltd LLC bought a new stake in Microsoft in the first quarter valued at approximately $147,000. Finally, Ballew Advisors Inc bought a new stake in Microsoft in the first quarter valued at approximately $164,000. Institutional investors own 71.85% of the company’s stock.
Shares of MSFT opened at $109.57 on Friday. Microsoft Co. has a 52-week low of $80.70 and a 52-week high of $116.18. The company has a current ratio of 2.92, a quick ratio of 2.85 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $862.07 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Microsoft’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, November 14th. Microsoft’s dividend payout ratio is presently 43.30%.
In other news, CFO Amy Hood sold 118,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 669,327 shares of the company’s stock, valued at $74,228,364.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Satya Nadella sold 203,418 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $106.68, for a total value of $21,700,632.24. Following the transaction, the chief executive officer now directly owns 1,014,247 shares in the company, valued at $108,199,869.96. The disclosure for this sale can be found here. Insiders have sold 479,080 shares of company stock worth $52,100,893 over the last ninety days. 1.49% of the stock is owned by insiders.
Several analysts recently commented on the company. Credit Suisse Group reiterated a “buy” rating and issued a $125.00 target price on shares of Microsoft in a report on Monday, October 29th. Oppenheimer reiterated a “buy” rating and issued a $127.00 target price on shares of Microsoft in a report on Monday, October 29th. Citigroup upped their target price on Microsoft from $113.00 to $114.00 and gave the company a “neutral” rating in a report on Thursday, October 25th. KeyCorp upped their target price on Microsoft from $123.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 25th. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $137.00 target price on shares of Microsoft in a report on Thursday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Microsoft currently has an average rating of “Buy” and a consensus price target of $121.88.
Microsoft Company Profile
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's 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.
Featured Story: How analysts view the yield curve
Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Co. (NASDAQ:MSFT).
Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.