Municipal Employees Retirement System of Michigan lifted its holdings in Microsoft Co. (NASDAQ:MSFT) by 1.2% in the first quarter, HoldingsChannel.com reports. The fund owned 240,500 shares of the software giant’s stock after buying an additional 2,760 shares during the quarter. Microsoft comprises 1.1% of Municipal Employees Retirement System of Michigan’s portfolio, making the stock its 2nd biggest holding. Municipal Employees Retirement System of Michigan’s holdings in Microsoft were worth $21,951,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ballew Advisors Inc purchased a new stake in shares of Microsoft in the first quarter worth about $164,000. Chartist Inc. CA purchased a new stake in shares of Microsoft in the first quarter worth about $207,000. Francis Financial Inc. purchased a new stake in shares of Microsoft in the first quarter worth about $211,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Microsoft in the first quarter worth about $221,000. Finally, AlphaStar Capital Management LLC purchased a new stake in shares of Microsoft in the fourth quarter worth about $204,000. 72.34% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on MSFT. Credit Suisse Group set a $115.00 target price on Microsoft and gave the stock a “buy” rating in a research report on Tuesday, April 24th. UBS Group set a $114.00 target price on Microsoft and gave the stock a “buy” rating in a research report on Friday, April 27th. BidaskClub downgraded Microsoft from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Stifel Nicolaus boosted their target price on Microsoft from $107.00 to $118.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Finally, Sanford C. Bernstein set a $135.00 price objective on Microsoft and gave the company a “buy” rating in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $118.18.
In other news, insider Jean Philippe Courtois sold 28,939 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $3,183,290.00. Following the transaction, the insider now owns 500,782 shares of the company’s stock, valued at $55,086,020. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Satya Nadella sold 328,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $109.44, for a total value of $35,896,320.00. Following the transaction, the chief executive officer now directly owns 778,596 shares in the company, valued at approximately $85,209,546.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 442,880 shares of company stock worth $48,304,569. Insiders own 1.49% of the company’s stock.
MSFT opened at $107.58 on Monday. The company has a market cap of $839.28 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 2.08 and a beta of 1.18. Microsoft Co. has a one year low of $71.70 and a one year high of $111.15. The company has a current ratio of 2.90, a quick ratio of 2.86 and a debt-to-equity ratio of 0.94.
Microsoft (NASDAQ:MSFT) last released its earnings results on Thursday, July 19th. The software giant reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The firm had revenue of $30.09 billion for the quarter, compared to analysts’ expectations of $29.23 billion. Microsoft had a return on equity of 36.69% and a net margin of 15.02%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. equities research analysts predict that Microsoft Co. will post 4.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Stockholders of record on Thursday, August 16th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, August 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.56%. Microsoft’s dividend payout ratio is 43.30%.
Microsoft Company Profile
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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