Fulton Bank N.A. boosted its holdings in Microsoft Co. (NASDAQ:MSFT) by 0.7% in the second quarter, Holdings Channel reports. The firm owned 149,637 shares of the software giant’s stock after purchasing an additional 967 shares during the period. Microsoft comprises about 1.0% of Fulton Bank N.A.’s portfolio, making the stock its 23rd largest holding. Fulton Bank N.A.’s holdings in Microsoft were worth $14,756,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of MSFT. Spectrum Financial Alliance Ltd LLC acquired a new stake in Microsoft during the first quarter valued at approximately $147,000. Ballew Advisors Inc acquired a new stake in shares of Microsoft during the 1st quarter worth approximately $164,000. Lara May & Associates LLC acquired a new stake in shares of Microsoft during the 1st quarter worth approximately $199,000. AlphaStar Capital Management LLC acquired a new stake in shares of Microsoft during the 4th quarter worth approximately $204,000. Finally, Trilogy Capital Inc. acquired a new stake in shares of Microsoft during the 4th quarter worth approximately $207,000. 71.75% of the stock is owned by hedge funds and other institutional investors.
Shares of MSFT stock opened at $114.26 on Monday. Microsoft Co. has a 12-month low of $72.92 and a 12-month high of $115.29. The company has a market capitalization of $879.78 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 2.18 and a beta of 1.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.90 and a quick ratio of 2.86.
The firm also recently disclosed 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 represents a $1.84 dividend on an annualized basis and a yield of 1.61%. This is a positive change from Microsoft’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, November 14th. Microsoft’s dividend payout ratio is 43.30%.
A number of brokerages have recently weighed in on MSFT. Zacks Investment Research cut Microsoft from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Royal Bank of Canada reiterated a “buy” rating and set a $124.00 price target on shares of Microsoft in a research report on Monday, September 3rd. Oppenheimer increased their price target on Microsoft to $127.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 18th. Credit Suisse Group set a $125.00 price target on Microsoft and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Finally, BidaskClub upgraded Microsoft from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. Microsoft has an average rating of “Buy” and an average target price of $119.74.
In other Microsoft news, CMO Christopher C. Capossela sold 23,337 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $109.22, for a total transaction of $2,548,867.14. Following the completion of the transaction, the chief marketing officer now directly owns 190,570 shares of the company’s stock, valued at approximately $20,814,055.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Margaret L. Johnson sold 47,000 shares of the stock in a transaction on 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 $11,809,999.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 650,042 shares of company stock valued at $71,264,850. 1.49% of the stock is currently owned by corporate 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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