ARP Americas LP lifted its stake in Microsoft Co. (NASDAQ:MSFT) by 23.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,733 shares of the software giant’s stock after purchasing an additional 8,000 shares during the period. ARP Americas LP’s holdings in Microsoft were worth $5,802,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cypress Capital Management LLC lifted its position in shares of Microsoft by 0.7% during the third quarter. Cypress Capital Management LLC now owns 181,626 shares of the software giant’s stock valued at $25,251,000 after buying an additional 1,328 shares during the last quarter. Inscription Capital LLC lifted its position in shares of Microsoft by 49.6% during the third quarter. Inscription Capital LLC now owns 29,091 shares of the software giant’s stock valued at $4,045,000 after buying an additional 9,649 shares during the last quarter. Hudock Capital Group LLC lifted its position in shares of Microsoft by 6.9% during the third quarter. Hudock Capital Group LLC now owns 10,415 shares of the software giant’s stock valued at $1,448,000 after buying an additional 669 shares during the last quarter. Alley Co LLC lifted its position in shares of Microsoft by 1.4% during the third quarter. Alley Co LLC now owns 74,873 shares of the software giant’s stock valued at $10,410,000 after buying an additional 1,037 shares during the last quarter. Finally, Stelac Advisory Services LLC purchased a new stake in shares of Microsoft during the third quarter valued at about $483,000. Hedge funds and other institutional investors own 72.22% of the company’s stock.
In other Microsoft news, EVP Jean Philippe Courtois sold 11,345 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $145.06, for a total transaction of $1,645,705.70. Following the completion of the transaction, the executive vice president now directly owns 611,855 shares of the company’s stock, valued at approximately $88,755,686.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Christopher C. Capossela sold 2,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief marketing officer now directly 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 have sold a total of 332,804 shares of company stock valued at $45,823,569 over the last three months. 1.39% of the stock is currently owned by insiders.
Microsoft (NASDAQ:MSFT) last posted its quarterly earnings results on Wednesday, October 23rd. The software giant reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $32.24 billion. During the same period last year, the firm posted $1.14 EPS. Microsoft’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, research analysts anticipate that Microsoft Co. will post 5.35 earnings per share for the current fiscal year.
Microsoft declared that its board has initiated a share repurchase program on Wednesday, September 18th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the software giant to purchase up to 3.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Microsoft’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.38%. Microsoft’s dividend payout ratio (DPR) is currently 38.74%.
Several analysts have commented on MSFT shares. Cleveland Research reissued a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. KeyCorp reissued a “buy” rating and set a $155.00 price target on shares of Microsoft in a research report on Thursday, August 29th. Argus increased their price target on shares of Microsoft to $158.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Raymond James increased their price target on shares of Microsoft from $160.00 to $163.00 and gave the company a “strong-buy” rating in a research report on Friday, July 19th. Finally, ValuEngine lowered shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price 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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