Microsoft Co. (NASDAQ:MSFT) Shares Purchased by City Holding Co.
City Holding Co. grew its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,231 shares of the software giant’s stock after buying an additional 2,098 shares during the quarter. Microsoft accounts for about 3.1% of City Holding Co.’s holdings, making the stock its 3rd biggest position. City Holding Co.’s holdings in Microsoft were worth $12,664,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Sailer Financial LLC purchased a new position in Microsoft during the fourth quarter worth about $65,000. Avondale Wealth Management boosted its holdings in Microsoft by 25.4% during the first quarter. Avondale Wealth Management now owns 464 shares of the software giant’s stock worth $73,000 after purchasing an additional 94 shares during the last quarter. Sofos Investments Inc. boosted its holdings in Microsoft by 15.5% during the first quarter. Sofos Investments Inc. now owns 2,552 shares of the software giant’s stock worth $81,000 after purchasing an additional 343 shares during the last quarter. John W. Brooker & Co. CPAs boosted its holdings in Microsoft by 21.4% during the first quarter. John W. Brooker & Co. CPAs now owns 568 shares of the software giant’s stock worth $90,000 after purchasing an additional 100 shares during the last quarter. Finally, Stephenson National Bank & Trust purchased a new position in Microsoft during the fourth quarter worth about $100,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.
MSFT stock opened at $207.07 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.90 and a quick ratio of 2.88. Microsoft Co. has a one year low of $130.78 and a one year high of $216.38. The stock has a market cap of $1,570.30 billion, a PE ratio of 34.51, a P/E/G ratio of 2.46 and a beta of 0.93. The firm has a 50 day simple moving average of $195.01 and a two-hundred day simple moving average of $174.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be paid a $0.51 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.99%. Microsoft’s dividend payout ratio (DPR) is 42.95%.
In other Microsoft news, CAO Frank H. Brod sold 3,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $176.94, for a total transaction of $530,820.00. Following the completion of the sale, the chief accounting officer now owns 57,136 shares of the company’s stock, valued at approximately $10,109,643.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Margaret L. Johnson sold 35,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $176.08, for a total transaction of $6,162,800.00. Following the sale, the executive vice president now directly owns 50,023 shares of the company’s stock, valued at approximately $8,808,049.84. The disclosure for this sale can be found here. Insiders sold a total of 38,049 shares of company stock valued at $6,702,736 in the last ninety days. 1.39% of the stock is owned by corporate insiders.
MSFT has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Microsoft from $198.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Argus lifted their price objective on shares of Microsoft from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Macquarie reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Microsoft in a research report on Thursday, April 30th. UBS Group lifted their price objective on shares of Microsoft from $200.00 to $207.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Fundamental Research reaffirmed a “buy” rating and issued a $212.58 price objective on shares of Microsoft in a research report on Thursday, June 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the stock. Microsoft presently has an average rating of “Buy” and an average price target of $198.75.
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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