Independent Portfolio Consultants Inc. raised its holdings in shares of Microsoft Corporation (NASDAQ:MSFT) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,897 shares of the software giant’s stock after purchasing an additional 361 shares during the period. Independent Portfolio Consultants Inc.’s holdings in Microsoft Corporation were worth $1,027,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its position in shares of Microsoft Corporation by 0.8% during the first quarter. State Street Corp now owns 318,681,830 shares of the software giant’s stock worth $20,988,383,000 after acquiring an additional 2,552,473 shares during the last quarter. Norges Bank bought a new position in shares of Microsoft Corporation during the fourth quarter worth about $4,334,099,000. Dodge & Cox bought a new position in shares of Microsoft Corporation during the fourth quarter worth about $2,658,504,000. Schwab Charles Investment Management Inc. grew its position in shares of Microsoft Corporation by 2.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 28,965,189 shares of the software giant’s stock worth $1,907,648,000 after acquiring an additional 638,798 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Microsoft Corporation by 1.1% during the first quarter. Fisher Asset Management LLC now owns 18,652,532 shares of the software giant’s stock worth $1,228,456,000 after acquiring an additional 199,259 shares during the last quarter. Hedge funds and other institutional investors own 73.47% of the company’s stock.
MSFT has been the subject of several recent research reports. ValuEngine upgraded shares of Microsoft Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Morgan Stanley restated an “overweight” rating and set a $80.00 price target on shares of Microsoft Corporation in a research report on Thursday, July 13th. Stifel Nicolaus restated a “buy” rating and set a $73.00 price target on shares of Microsoft Corporation in a research report on Sunday, July 9th. Cowen and Company restated an “outperform” rating and set a $80.00 price target (up previously from $78.00) on shares of Microsoft Corporation in a research report on Saturday, July 22nd. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and set a $80.00 price target on shares of Microsoft Corporation in a research report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty have given a buy rating to the stock. Microsoft Corporation has an average rating of “Buy” and a consensus price target of $76.72.
Shares of Microsoft Corporation (MSFT) traded up 0.72% during trading on Friday, reaching $75.31. The company’s stock had a trading volume of 38,578,441 shares. The stock’s 50 day moving average price is $73.27 and its 200 day moving average price is $69.57. Microsoft Corporation has a 52 week low of $56.32 and a 52 week high of $75.49. The company has a market cap of $580.06 billion, a PE ratio of 27.79 and a beta of 1.00.
Microsoft Corporation (NASDAQ:MSFT) last posted its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.27. The firm had revenue of $24.70 billion for the quarter, compared to analyst estimates of $24.29 billion. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 EPS. Equities research analysts predict that Microsoft Corporation will post $3.14 EPS for the current year.
In other Microsoft Corporation news, insider Jean Philippe Courtois sold 26,763 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $74.00, for a total transaction of $1,980,462.00. Following the transaction, the insider now owns 537,519 shares of the company’s stock, valued at approximately $39,776,406. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy Hood sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $72.71, for a total value of $3,999,050.00. Following the transaction, the chief financial officer now directly owns 510,217 shares in the company, valued at approximately $37,097,878.07. The disclosure for this sale can be found here. Insiders have sold a total of 7,108,526 shares of company stock worth $515,879,974 in the last ninety days. Insiders own 2.99% of the company’s stock.
Microsoft Corporation Company Profile
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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