James Investment Research Inc. increased its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,771 shares of the software giant’s stock after buying an additional 11,370 shares during the quarter. Microsoft accounts for 2.1% of James Investment Research Inc.’s investment portfolio, making the stock its 6th largest holding. James Investment Research Inc.’s holdings in Microsoft were worth $28,748,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in MSFT. Nuveen Asset Management LLC grew its holdings in Microsoft by 2,651.8% during the second quarter. Nuveen Asset Management LLC now owns 67,353,275 shares of the software giant’s stock worth $9,022,645,000 after buying an additional 64,905,685 shares in the last quarter. Thoroughbred Financial Services LLC grew its holdings in Microsoft by 13,479.6% during the second quarter. Thoroughbred Financial Services LLC now owns 8,726,283 shares of the software giant’s stock worth $872,628,000 after buying an additional 8,662,023 shares in the last quarter. Vanguard Group Inc. grew its holdings in Microsoft by 1.3% during the second quarter. Vanguard Group Inc. now owns 613,005,516 shares of the software giant’s stock worth $82,118,218,000 after buying an additional 7,724,483 shares in the last quarter. Edgewood Management LLC bought a new stake in Microsoft during the second quarter worth $620,230,000. Finally, Parnassus Investments CA grew its holdings in Microsoft by 87.9% during the second quarter. Parnassus Investments CA now owns 8,818,322 shares of the software giant’s stock worth $1,181,303,000 after buying an additional 4,126,121 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.
Shares of NASDAQ MSFT opened at $145.96 on Friday. The business’s fifty day moving average price is $139.85 and its 200-day moving average price is $135.04. Microsoft Co. has a one year low of $93.96 and a one year high of $145.99. The stock has a market capitalization of $1,102.06 billion, a PE ratio of 30.73, a P/E/G ratio of 2.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.85 and a quick ratio of 2.81.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Microsoft’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.40%. Microsoft’s dividend payout ratio is 38.74%.
Microsoft declared that its Board of Directors has approved a stock repurchase plan on Wednesday, September 18th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the software giant to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
A number of research analysts have issued reports on MSFT shares. Canaccord Genuity upped their price objective on Microsoft from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Macquarie upped their price objective on Microsoft from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. UBS Group set a $162.00 price objective on Microsoft and gave the company a “buy” rating in a research note on Friday, July 19th. Deutsche Bank restated a “buy” rating and issued a $160.00 price objective on shares of Microsoft in a research note on Monday, October 28th. Finally, Nomura set a $161.00 price objective on Microsoft and gave the company a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $159.45.
In other news, CMO Christopher C. Capossela sold 7,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $138.15, for a total transaction of $967,050.00. Following the transaction, the chief marketing officer now directly owns 122,817 shares in the company, valued at approximately $16,967,168.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Frank H. Brod sold 4,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $137.17, for a total value of $548,680.00. Following the transaction, the chief accounting officer now owns 54,306 shares in the company, valued at $7,449,154.02. The disclosure for this sale can be found here. Insiders have sold a total of 339,804 shares of company stock worth $46,790,619 over the last quarter. Corporate insiders own 1.39% of the company’s stock.
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.
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