Red Door Wealth Management LLC Lowers Stake in Microsoft Co. (NASDAQ:MSFT)
Red Door Wealth Management LLC lessened its holdings in Microsoft Co. (NASDAQ:MSFT) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,549 shares of the software giant’s stock after selling 444 shares during the period. Microsoft makes up 3.5% of Red Door Wealth Management LLC’s portfolio, making the stock its 4th biggest position. Red Door Wealth Management LLC’s holdings in Microsoft were worth $4,749,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Advisor Group Holdings Inc. bought a new stake in shares of Microsoft in the 1st quarter valued at approximately $328,820,000. Nordea Investment Management AB boosted its stake in Microsoft by 105.3% in the 2nd quarter. Nordea Investment Management AB now owns 20,872,802 shares of the software giant’s stock valued at $4,168,090,000 after buying an additional 10,705,657 shares in the last quarter. APG Asset Management N.V. grew its position in Microsoft by 40.2% in the second quarter. APG Asset Management N.V. now owns 13,477,185 shares of the software giant’s stock valued at $2,442,009,000 after acquiring an additional 3,863,058 shares during the period. Viking Global Investors LP raised its stake in Microsoft by 257.7% during the first quarter. Viking Global Investors LP now owns 4,900,338 shares of the software giant’s stock worth $772,832,000 after acquiring an additional 3,530,518 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of Microsoft by 3.5% during the first quarter. Capital International Investors now owns 103,523,946 shares of the software giant’s stock valued at $16,326,780,000 after acquiring an additional 3,527,148 shares during the period. Hedge funds and other institutional investors own 69.93% of the company’s stock.
In other Microsoft news, CMO Christopher C. Capossela sold 23,000 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $210.70, for a total value of $4,846,100.00. Following the completion of the transaction, the chief marketing officer now directly owns 122,943 shares of the company’s stock, valued at $25,904,090.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy Hood sold 80,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $218.14, for a total value of $17,451,200.00. Following the completion of the sale, the chief financial officer now owns 452,720 shares of the company’s stock, valued at $98,756,340.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,067 shares of company stock valued at $35,247,737. Corporate insiders own 1.39% of the company’s stock.
Microsoft (NASDAQ:MSFT) last released its earnings results on Wednesday, July 22nd. The software giant reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.12. The firm had revenue of $38.03 billion for the quarter, compared to analyst estimates of $36.59 billion. Microsoft had a return on equity of 39.45% and a net margin of 30.96%. As a group, equities research analysts expect that Microsoft Co. will post 6.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be paid a dividend of $0.56 per share. This is a positive change from Microsoft’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.24 annualized dividend and a yield of 1.02%. Microsoft’s dividend payout ratio (DPR) is presently 35.42%.
MSFT has been the topic of several analyst reports. BidaskClub raised shares of Microsoft from a “sell” rating to a “hold” rating in a report on Tuesday, September 29th. Credit Suisse Group reaffirmed a “buy” rating and set a $225.00 price objective on shares of Microsoft in a report on Monday, October 5th. Fundamental Research lifted their target price on shares of Microsoft from $212.58 to $220.41 and gave the company a “buy” rating in a research note on Tuesday, July 28th. DZ Bank restated a “buy” rating on shares of Microsoft in a research report on Thursday, July 23rd. Finally, Piper Sandler lifted their price objective on Microsoft from $192.00 to $218.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Four research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $220.30.
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, 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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