Norway Savings Bank trimmed its holdings in Microsoft Co. (NASDAQ:MSFT) by 8.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,089 shares of the software giant’s stock after selling 1,215 shares during the period. Microsoft accounts for 1.9% of Norway Savings Bank’s holdings, making the stock its 9th biggest holding. Norway Savings Bank’s holdings in Microsoft were worth $2,753,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Advisor Group Holdings Inc. acquired a new stake in shares of Microsoft during the 1st quarter worth approximately $328,820,000. Nordea Investment Management AB boosted its holdings in Microsoft by 105.3% during the second quarter. Nordea Investment Management AB now owns 20,872,802 shares of the software giant’s stock worth $4,168,090,000 after buying an additional 10,705,657 shares in the last quarter. APG Asset Management N.V. boosted its holdings in Microsoft by 40.2% during the second quarter. APG Asset Management N.V. now owns 13,477,185 shares of the software giant’s stock worth $2,442,009,000 after buying an additional 3,863,058 shares in the last quarter. Viking Global Investors LP grew its position 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 valued at $772,832,000 after buying an additional 3,530,518 shares during the period. Finally, Capital International Investors increased its holdings in Microsoft by 3.5% in 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 buying an additional 3,527,148 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on MSFT. Bank of America restated a “buy” rating and set a $230.00 target price on shares of Microsoft in a research report on Monday, July 20th. JPMorgan Chase & Co. raised their price objective on Microsoft from $190.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Wedbush upped their target price on Microsoft from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. UBS Group began coverage on shares of Microsoft in a research note on Wednesday. They issued a “buy” rating and a $243.00 price target on the stock. Finally, Summit Insights cut shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. Microsoft presently has an average rating of “Buy” and a consensus price target of $220.30.
In related news, CFO Amy Hood sold 80,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 452,720 shares in the company, valued at $98,756,340.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathleen T. Hogan sold 30,871 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $209.90, for a total value of $6,479,822.90. Following the completion of the transaction, the executive vice president now owns 176 shares of the company’s stock, valued at $36,942.40. The disclosure for this sale can be found here. Insiders have sold a total of 164,067 shares of company stock valued at $35,247,737 in the last 90 days. Insiders own 1.39% of the company’s stock.
Shares of NASDAQ:MSFT opened at $219.66 on Friday. Microsoft Co. has a 52-week low of $132.52 and a 52-week high of $232.86. The stock has a market cap of $1,662.31 billion, a P/E ratio of 38.20, a PEG ratio of 2.54 and a beta of 0.92. The business has a fifty day moving average of $211.82 and a two-hundred day moving average of $196.06. The company has a quick ratio of 2.49, a current ratio of 2.52 and a debt-to-equity ratio of 0.50.
Microsoft (NASDAQ:MSFT) last announced its quarterly 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. Microsoft had a net margin of 30.96% and a return on equity of 39.45%. The firm had revenue of $38.03 billion for the quarter, compared to analysts’ expectations of $36.59 billion. On average, equities analysts anticipate that Microsoft Co. will post 6.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be paid a $0.56 dividend. This is a boost 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 dividend yield of 1.02%. Microsoft’s dividend payout ratio is 35.42%.
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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