Retirement Systems of Alabama lessened its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,991,825 shares of the software giant’s stock after selling 71,199 shares during the quarter. Microsoft accounts for approximately 2.4% of Retirement Systems of Alabama’s portfolio, making the stock its 3rd largest position. Retirement Systems of Alabama owned about 0.06% of Microsoft worth $492,244,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Broadleaf Partners LLC increased its stake in Microsoft by 156.6% during the 2nd quarter. Broadleaf Partners LLC now owns 153,360 shares of the software giant’s stock valued at $15,123,000 after purchasing an additional 93,604 shares in the last quarter. Gilbert & Cook Inc. increased its stake in Microsoft by 8.8% during the 2nd quarter. Gilbert & Cook Inc. now owns 11,825 shares of the software giant’s stock valued at $1,166,000 after purchasing an additional 957 shares in the last quarter. Liberty Capital Management Inc. increased its stake in Microsoft by 6.1% during the 2nd quarter. Liberty Capital Management Inc. now owns 29,366 shares of the software giant’s stock valued at $2,896,000 after purchasing an additional 1,690 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Microsoft by 59.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,945,341 shares of the software giant’s stock valued at $290,440,000 after purchasing an additional 1,100,473 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in Microsoft by 0.9% during the 2nd quarter. Baillie Gifford & Co. now owns 649,496 shares of the software giant’s stock valued at $64,047,000 after purchasing an additional 5,787 shares in the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.
Shares of NASDAQ:MSFT opened at $110.85 on Tuesday. The company has a current ratio of 2.90, a quick ratio of 2.86 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $880.63 billion, a P/E ratio of 28.57, a P/E/G ratio of 2.19 and a beta of 1.28. Microsoft Co. has a fifty-two week low of $75.86 and a fifty-two week high of $116.18.
Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, July 19th. The software giant reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.05. The company had revenue of $30.09 billion for the quarter, compared to the consensus estimate of $29.23 billion. Microsoft had a net margin of 15.02% and a return on equity of 36.69%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. On average, analysts expect that Microsoft Co. will post 4.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 15th will be issued a $0.46 dividend. This is an increase from Microsoft’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Wednesday, November 14th. Microsoft’s payout ratio is 43.30%.
A number of analysts have commented on MSFT shares. Oppenheimer restated a “buy” rating and set a $127.00 price target on shares of Microsoft in a research note on Monday, September 24th. Credit Suisse Group set a $125.00 price target on shares of Microsoft and gave the company a “buy” rating in a research note on Monday, August 27th. Royal Bank of Canada set a $124.00 price target on shares of Microsoft and gave the company a “buy” rating in a research note on Monday, September 10th. Atlantic Securities upgraded shares of Microsoft from a “neutral” rating to an “overweight” rating in a research note on Monday, June 25th. Finally, BidaskClub upgraded shares of Microsoft from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $120.08.
In related news, EVP Margaret L. Johnson sold 47,000 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $107.67, for a total value of $5,060,490.00. Following the transaction, the executive vice president now directly owns 109,687 shares of the company’s stock, valued at approximately $11,809,999.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Satya Nadella sold 328,000 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $109.44, for a total transaction of $35,896,320.00. Following the completion of the transaction, the chief executive officer now directly owns 778,596 shares in the company, valued at $85,209,546.24. The disclosure for this sale can be found here. Insiders sold a total of 650,042 shares of company stock worth $71,264,850 over the last three months. 1.49% of the stock is owned by insiders.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates through Productivity and Business Processes, Intelligent Cloud, and More Personal Computing segments. The Productivity and Business Processes segment offers Office 365 commercial products and services for businesses, 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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