Spears Abacus Advisors LLC lowered its position in shares of Microsoft Co. (NASDAQ:MSFT) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 495,354 shares of the software giant’s stock after selling 9,567 shares during the period. Microsoft comprises about 7.8% of Spears Abacus Advisors LLC’s holdings, making the stock its largest holding. Spears Abacus Advisors LLC’s holdings in Microsoft were worth $66,358,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Quantamental Technologies LLC purchased a new position in Microsoft during the 4th quarter valued at about $26,000. LFA Lugano Financial Advisors SA increased its holdings in Microsoft by 274.5% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock valued at $26,000 after purchasing an additional 140 shares during the period. Centaurus Financial Inc. increased its holdings in Microsoft by 21.1% during the 1st quarter. Centaurus Financial Inc. now owns 3,222 shares of the software giant’s stock valued at $27,000 after purchasing an additional 561 shares during the period. Gavea Investimentos Ltda purchased a new position in Microsoft during the 2nd quarter valued at about $70,000. Finally, Price Wealth Management Inc. increased its holdings in Microsoft by 27.7% during the 2nd quarter. Price Wealth Management Inc. now owns 746 shares of the software giant’s stock valued at $100,000 after purchasing an additional 162 shares during the period. 72.16% of the stock is owned by hedge funds and other institutional investors.
Shares of MSFT stock traded up $0.30 during midday trading on Wednesday, reaching $137.69. 5,260,149 shares of the stock were exchanged, compared to its average volume of 21,818,010. Microsoft Co. has a 1 year low of $93.96 and a 1 year high of $141.68. The company’s 50 day moving average is $136.86 and its two-hundred day moving average is $129.14. The company has a current ratio of 2.53, a quick ratio of 2.50 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1,048.49 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 2.39 and a beta of 1.22.
Microsoft (NASDAQ:MSFT) last posted its earnings results on Thursday, July 18th. The software giant reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. Microsoft had a return on equity of 39.26% and a net margin of 31.18%. The firm had revenue of $33.72 billion for the quarter, compared to the consensus estimate of $32.80 billion. During the same quarter in the prior year, the business earned $1.13 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts expect that Microsoft Co. will post 5.22 EPS for the current fiscal year.
In other news, EVP Kathleen T. Hogan sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $135.25, for a total value of $5,410,000.00. Following the sale, the executive vice president now directly owns 198,042 shares of the company’s stock, valued at approximately $26,785,180.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Amy Hood sold 123,769 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $137.26, for a total value of $16,988,532.94. Following the completion of the sale, the chief financial officer now directly owns 433,940 shares in the company, valued at $59,562,604.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 318,757 shares of company stock worth $43,735,918. Insiders own 1.38% of the company’s stock.
A number of research analysts recently issued reports on the company. Argus boosted their price target on Microsoft to $158.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Morgan Stanley boosted their price target on Microsoft from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Stifel Nicolaus boosted their price target on Microsoft from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, July 19th. Cowen assumed coverage on Microsoft in a report on Thursday, July 11th. They set an “outperform” rating and a $150.00 price target on the stock. Finally, Canaccord Genuity boosted their price target on Microsoft from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. Microsoft has an average rating of “Buy” and an average price target of $149.21.
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.
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