Connable Office Inc. reduced its stake in Microsoft Corporation (NASDAQ:MSFT) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,350 shares of the software giant’s stock after selling 1,220 shares during the period. Microsoft makes up 0.9% of Connable Office Inc.’s portfolio, making the stock its 16th largest holding. Connable Office Inc.’s holdings in Microsoft were worth $4,298,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Connecticut Wealth Management LLC boosted its stake in shares of Microsoft by 1.8% during the 2nd quarter. Connecticut Wealth Management LLC now owns 12,468 shares of the software giant’s stock worth $873,000 after purchasing an additional 220 shares during the period. Canada Pension Plan Investment Board boosted its position in Microsoft by 6.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 13,931,758 shares of the software giant’s stock valued at $960,316,000 after buying an additional 873,200 shares during the period. Summit Financial Strategies Inc. boosted its position in Microsoft by 6.3% in the 2nd quarter. Summit Financial Strategies Inc. now owns 10,116 shares of the software giant’s stock valued at $697,000 after buying an additional 596 shares during the period. Corundum Group Inc. boosted its position in Microsoft by 11.2% in the 2nd quarter. Corundum Group Inc. now owns 9,136 shares of the software giant’s stock valued at $630,000 after buying an additional 917 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Microsoft in the 2nd quarter valued at about $517,000. Institutional investors own 73.33% of the company’s stock.
Shares of Microsoft Corporation (MSFT) traded down $0.29 during mid-day trading on Thursday, reaching $82.49. 23,177,186 shares of the company’s stock traded hands, compared to its average volume of 22,499,188. The company has a current ratio of 3.12, a quick ratio of 3.06 and a debt-to-equity ratio of 0.91. Microsoft Corporation has a one year low of $60.84 and a one year high of $86.20. The stock has a market capitalization of $636,880.00, a price-to-earnings ratio of 24.14, a PEG ratio of 1.90 and a beta of 0.99.
Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Thursday, October 26th. The software giant reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Microsoft had a net margin of 24.56% and a return on equity of 35.23%. The business had revenue of $24.50 billion during the quarter, compared to analyst estimates of $23.57 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. sell-side analysts anticipate that Microsoft Corporation will post 3.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.04%. Microsoft’s dividend payout ratio is currently 56.76%.
In other Microsoft news, EVP Christopher C. Capossela sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $83.44, for a total transaction of $333,760.00. Following the sale, the executive vice president now owns 184,278 shares of the company’s stock, valued at $15,376,156.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Frank H. Brod sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $84.08, for a total transaction of $1,261,200.00. Following the sale, the insider now directly owns 116,205 shares in the company, valued at approximately $9,770,516.40. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock valued at $3,759,420 in the last quarter. 1.49% of the stock is owned by insiders.
MSFT has been the subject of several research reports. ValuEngine raised shares of Microsoft from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Morningstar restated a “neutral” rating on shares of Microsoft in a report on Monday, October 16th. Credit Suisse Group reiterated an “outperform” rating on shares of Microsoft in a research note on Thursday, August 31st. Royal Bank Of Canada reiterated an “outperform” rating and set a $88.00 price objective (up previously from $85.00) on shares of Microsoft in a research note on Friday, October 27th. Finally, KeyCorp reiterated a “buy” rating and set a $82.00 price objective on shares of Microsoft in a research note on Sunday, September 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $84.59.
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Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.
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