Sterneck Capital Management LLC trimmed its position in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 3.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,582 shares of the software giant’s stock after selling 275 shares during the period. Microsoft makes up about 1.6% of Sterneck Capital Management LLC’s portfolio, making the stock its 19th largest holding. Sterneck Capital Management LLC’s holdings in Microsoft were worth $2,646,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in MSFT. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Microsoft by 5.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 134,115 shares of the software giant’s stock valued at $42,237,000 after buying an additional 7,210 shares in the last quarter. Arbor Investment Advisors LLC raised its stake in Microsoft by 12.6% during the 1st quarter. Arbor Investment Advisors LLC now owns 12,142 shares of the software giant’s stock valued at $3,743,000 after purchasing an additional 1,357 shares during the period. KRS Capital Management LLC raised its stake in Microsoft by 4.8% during the 1st quarter. KRS Capital Management LLC now owns 4,781 shares of the software giant’s stock valued at $1,474,000 after purchasing an additional 218 shares during the period. Dfpg Investments LLC raised its stake in Microsoft by 22.9% during the 1st quarter. Dfpg Investments LLC now owns 27,038 shares of the software giant’s stock valued at $7,585,000 after purchasing an additional 5,030 shares during the period. Finally, Allworth Financial LP raised its stake in Microsoft by 41.4% during the 1st quarter. Allworth Financial LP now owns 147,385 shares of the software giant’s stock valued at $45,441,000 after purchasing an additional 43,189 shares during the period. 69.99% of the stock is currently owned by institutional investors and hedge funds.
Microsoft Price Performance
Shares of NASDAQ:MSFT opened at $287.02 on Friday. Microsoft Co. has a 1-year low of $241.51 and a 1-year high of $349.67. The firm has a market capitalization of $2.14 trillion, a PE ratio of 29.77, a PEG ratio of 2.38 and a beta of 0.93. The business’s 50 day moving average is $263.64 and its 200-day moving average is $279.64. The company has a current ratio of 1.78, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.
Microsoft (NASDAQ:MSFT – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The software giant reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.06). Microsoft had a return on equity of 43.31% and a net margin of 36.69%. During the same period last year, the business posted $2.17 EPS. Sell-side analysts predict that Microsoft Co. will post 10.14 earnings per share for the current year.
Microsoft Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, August 17th. Microsoft’s dividend payout ratio is 25.73%.
Analyst Ratings Changes
Several analysts have issued reports on MSFT shares. BMO Capital Markets boosted their target price on shares of Microsoft from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Wedbush cut their target price on shares of Microsoft from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Royal Bank of Canada set a $380.00 target price on shares of Microsoft in a research note on Thursday, May 19th. Morgan Stanley dropped their price target on shares of Microsoft from $372.00 to $354.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Finally, Wells Fargo & Company dropped their price target on shares of Microsoft from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. One research analyst has rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Microsoft has a consensus rating of “Moderate Buy” and an average target price of $335.72.
Microsoft Profile
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.
Further Reading
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