Microsoft Co. (NASDAQ:MSFT) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. cut its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 1.6% in the third quarter, HoldingsChannel reports. The firm owned 2,597,916 shares of the software giant’s stock after selling 42,254 shares during the period. Microsoft accounts for about 1.9% of Diamond Hill Capital Management Inc.’s holdings, making the stock its 12th biggest holding. Diamond Hill Capital Management Inc.’s holdings in Microsoft were worth $361,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Navellier & Associates Inc raised its position in shares of Microsoft by 0.6% in the second quarter. Navellier & Associates Inc now owns 15,304 shares of the software giant’s stock worth $2,050,000 after acquiring an additional 95 shares during the period. Empirical Finance LLC raised its position in shares of Microsoft by 3.5% in the second quarter. Empirical Finance LLC now owns 8,707 shares of the software giant’s stock worth $1,166,000 after acquiring an additional 295 shares during the period. Legacy Financial Strategies LLC acquired a new position in shares of Microsoft in the second quarter worth about $211,000. Axiom International Investors LLC DE raised its position in shares of Microsoft by 24.3% in the second quarter. Axiom International Investors LLC DE now owns 1,042,490 shares of the software giant’s stock worth $139,652,000 after acquiring an additional 203,715 shares during the period. Finally, Independence Bank of Kentucky raised its position in shares of Microsoft by 0.6% in the second quarter. Independence Bank of Kentucky now owns 14,960 shares of the software giant’s stock worth $2,004,000 after acquiring an additional 95 shares during the period. Institutional investors own 72.20% of the company’s stock.

In related news, CMO Christopher C. Capossela sold 7,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $138.15, for a total transaction of $967,050.00. Following the completion of the sale, the chief marketing officer now owns 122,817 shares of the company’s stock, valued at approximately $16,967,168.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Christopher C. Capossela sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $142.89, for a total transaction of $357,225.00. Following the sale, the chief marketing officer now directly owns 133,944 shares of the company’s stock, valued at approximately $19,139,258.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 339,804 shares of company stock valued at $46,790,619. 1.39% of the stock is owned by corporate insiders.

MSFT has been the subject of a number of research reports. Deutsche Bank reissued a “buy” rating and set a $160.00 target price on shares of Microsoft in a research note on Monday, October 28th. JPMorgan Chase & Co. reissued a “buy” rating and set a $169.00 target price on shares of Microsoft in a research note on Thursday, October 24th. Stifel Nicolaus boosted their target price on shares of Microsoft from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group set a $162.00 target price on shares of Microsoft and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Evercore ISI set a $160.00 target price on shares of Microsoft and gave the stock a “buy” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Microsoft has an average rating of “Buy” and a consensus target price of $159.45.

Shares of NASDAQ MSFT opened at $145.96 on Friday. Microsoft Co. has a 12-month low of $93.96 and a 12-month high of $145.99. The stock has a market cap of $1,102.06 billion, a PE ratio of 30.73, a P/E/G ratio of 2.27 and a beta of 1.23. The company has a current ratio of 2.85, a quick ratio of 2.81 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average of $139.85 and a 200 day moving average of $135.04.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, October 23rd. The software giant reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.14. Microsoft had a net margin of 31.66% and a return on equity of 39.14%. The company had revenue of $33.06 billion during the quarter, compared to analysts’ expectations of $32.24 billion. During the same quarter in the prior year, the company earned $1.14 EPS. Microsoft’s revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts forecast that Microsoft Co. will post 5.35 EPS for the current fiscal year.

Microsoft announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 18th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the software giant to buy up to 3.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s dividend payout ratio is currently 38.74%.

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.

Read More: Penny Stocks, Risk and Reward Factors

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).

Institutional Ownership by Quarter for Microsoft (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.