Smith Salley & Associates increased its stake in Microsoft Co. (NASDAQ:MSFT) by 3.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 217,301 shares of the software giant’s stock after buying an additional 7,408 shares during the quarter. Microsoft comprises 4.3% of Smith Salley & Associates’ portfolio, making the stock its largest position. Smith Salley & Associates’ holdings in Microsoft were worth $30,212,000 as of its most recent filing with the SEC.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Navellier & Associates Inc lifted its stake in Microsoft by 0.6% in the second quarter. Navellier & Associates Inc now owns 15,304 shares of the software giant’s stock valued at $2,050,000 after buying an additional 95 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Microsoft by 3.5% during the second quarter. Empirical Finance LLC now owns 8,707 shares of the software giant’s stock valued at $1,166,000 after purchasing an additional 295 shares during the period. Legacy Financial Strategies LLC bought a new stake in shares of Microsoft during the second quarter valued at about $211,000. Axiom International Investors LLC DE raised its stake in shares of Microsoft by 24.3% during the second quarter. Axiom International Investors LLC DE now owns 1,042,490 shares of the software giant’s stock valued at $139,652,000 after purchasing an additional 203,715 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its holdings in shares of Microsoft by 0.6% in the second quarter. Independence Bank of Kentucky now owns 14,960 shares of the software giant’s stock valued at $2,004,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 71.83% of the company’s stock.
NASDAQ:MSFT opened at $147.67 on Tuesday. The firm has a market cap of $1,140.89 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 2.37 and a beta of 1.23. The company has a quick ratio of 2.81, a current ratio of 2.85 and a debt-to-equity ratio of 0.69. Microsoft Co. has a 12 month low of $93.96 and a 12 month high of $152.50. The company’s 50 day moving average is $145.16 and its 200-day moving average is $137.64.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, October 23rd. The software giant reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.14. The business had revenue of $33.06 billion for the quarter, compared to the consensus estimate of $32.24 billion. Microsoft had a net margin of 31.66% and a return on equity of 39.14%. Microsoft’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company posted $1.14 earnings per share. Research analysts predict that Microsoft Co. will post 5.35 EPS for the current fiscal year.
Microsoft announced that its Board of Directors has authorized a share buyback plan on Wednesday, September 18th that allows the company to repurchase $40.00 billion in shares. This repurchase authorization allows the software giant to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.51 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $2.04 dividend on an annualized basis and a yield of 1.38%. This is a boost from Microsoft’s previous quarterly dividend of $0.46. Microsoft’s payout ratio is presently 42.95%.
In other news, CAO Frank H. Brod sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $137.17, for a total value of $548,680.00. Following the transaction, the chief accounting officer now directly owns 54,306 shares of the company’s stock, valued at approximately $7,449,154.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Christopher C. Capossela sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $144.01, for a total value of $360,025.00. Following the sale, the chief marketing officer now owns 118,944 shares in the company, valued at $17,129,125.44. The disclosure for this sale can be found here. Insiders sold 332,804 shares of company stock valued at $45,823,569 in the last three months. Company insiders own 1.39% of the company’s stock.
Several equities research analysts recently commented on the company. Jefferies Financial Group raised Microsoft from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Monday, October 7th. Nomura set a $161.00 target price on Microsoft and gave the stock a “buy” rating in a report on Tuesday, October 15th. BMO Capital Markets boosted their price target on shares of Microsoft from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein restated a “buy” rating and set a $167.00 price objective on shares of Microsoft in a research report on Monday, October 28th. Finally, ValuEngine cut shares of Microsoft from a “buy” rating to a “hold” rating in a 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 assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus 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.
Further Reading: Key terms to understand channel trading