Microsoft Co. (NASDAQ:MSFT) Stock Position Increased by Smithfield Trust Co.
Smithfield Trust Co. boosted its position in Microsoft Co. (NASDAQ:MSFT) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,787 shares of the software giant’s stock after purchasing an additional 2,787 shares during the quarter. Microsoft comprises 1.1% of Smithfield Trust Co.’s holdings, making the stock its 19th biggest position. Smithfield Trust Co.’s holdings in Microsoft were worth $11,510,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. LFA Lugano Financial Advisors SA raised its position in shares of Microsoft by 274.5% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock worth $26,000 after buying an additional 140 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Microsoft during the 2nd quarter worth about $26,000. Centaurus Financial Inc. raised its position in shares of Microsoft by 21.1% during the 1st quarter. Centaurus Financial Inc. now owns 3,222 shares of the software giant’s stock worth $27,000 after buying an additional 561 shares in the last quarter. Selective Wealth Management Inc. bought a new stake in shares of Microsoft during the 3rd quarter worth about $36,000. Finally, Atwater Malick LLC bought a new stake in shares of Microsoft during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.
Microsoft stock opened at $145.96 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.85 and a quick ratio of 2.81. The company has a market cap of $1,102.06 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 2.27 and a beta of 1.23. The firm’s 50 day simple moving average is $139.85 and its 200-day simple moving average is $135.04. Microsoft Co. has a fifty-two week low of $93.96 and a fifty-two week high of $145.99.
Microsoft announced that its Board of Directors has authorized a share buyback program on Wednesday, September 18th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the software giant to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.51 dividend. The ex-dividend date is Wednesday, November 20th. This is a boost from Microsoft’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.40%. Microsoft’s payout ratio is 38.74%.
In other news, EVP Jean Philippe Courtois sold 11,345 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $145.06, for a total value of $1,645,705.70. Following the completion of the sale, the executive vice president now directly owns 611,855 shares in the company, valued at $88,755,686.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Christopher C. Capossela sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $144.01, for a total transaction of $360,025.00. Following the completion of the sale, the chief marketing officer now owns 118,944 shares of the company’s stock, valued at $17,129,125.44. The disclosure for this sale can be found here. Insiders sold 339,804 shares of company stock valued at $46,790,619 over the last quarter. Corporate insiders own 1.39% of the company’s stock.
A number of analysts have commented on MSFT shares. Barclays set a $168.00 price target on shares of Microsoft and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush reiterated an “outperform” rating and issued a $170.00 target price (up from $160.00) on shares of Microsoft in a report on Thursday, October 24th. Royal Bank of Canada boosted their target price on shares of Microsoft from $160.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley boosted their target price on shares of Microsoft from $155.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, DZ Bank reiterated a “buy” rating on shares of Microsoft in a report on Friday, July 19th. One research analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $159.45.
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, 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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