Nachman Norwood & Parrott Inc decreased its stake in Microsoft Co. (NASDAQ:MSFT) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,904 shares of the software giant’s stock after selling 229 shares during the quarter. Microsoft accounts for about 1.5% of Nachman Norwood & Parrott Inc’s portfolio, making the stock its 18th largest position. Nachman Norwood & Parrott Inc’s holdings in Microsoft were worth $14,873,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Yale University bought a new stake in shares of Microsoft in the second quarter worth about $110,000. Hamilton Wealth LLC increased its holdings in shares of Microsoft by 4.9% in the second quarter. Hamilton Wealth LLC now owns 35,933 shares of the software giant’s stock worth $9,734,000 after acquiring an additional 1,681 shares in the last quarter. Proquility Private Wealth Partners LLC increased its holdings in shares of Microsoft by 1.4% in the second quarter. Proquility Private Wealth Partners LLC now owns 3,623 shares of the software giant’s stock worth $982,000 after acquiring an additional 51 shares in the last quarter. Alliance Wealth Management Group increased its holdings in shares of Microsoft by 3.3% in the second quarter. Alliance Wealth Management Group now owns 4,320 shares of the software giant’s stock worth $1,170,000 after acquiring an additional 138 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC increased its holdings in shares of Microsoft by 3.3% in the second quarter. Capital Advisors Wealth Management LLC now owns 15,900 shares of the software giant’s stock worth $4,307,000 after acquiring an additional 509 shares in the last quarter. 69.17% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Microsoft from a “hold” rating to a “buy” rating and set a $329.00 price target for the company in a report on Thursday, July 29th. UBS Group increased their price target on Microsoft from $325.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 20th. Cowen increased their price objective on Microsoft from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Royal Bank of Canada reiterated a “buy” rating and set a $360.00 price objective on shares of Microsoft in a report on Monday, August 23rd. Finally, Morgan Stanley increased their price objective on Microsoft from $305.00 to $331.00 and gave the stock an “overweight” rating in a report on Tuesday, September 14th. One research analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $324.84.
Microsoft (NASDAQ:MSFT) last issued its quarterly earnings data on Monday, July 26th. The software giant reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.25. The business had revenue of $46.15 billion for the quarter, compared to analyst estimates of $44.30 billion. Microsoft had a return on equity of 45.76% and a net margin of 36.45%. Microsoft’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, equities research analysts expect that Microsoft Co. will post 8.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 9th. Shareholders of record on Thursday, November 18th will be issued a dividend of $0.62 per share. The ex-dividend date is Wednesday, November 17th. This is an increase from Microsoft’s previous quarterly dividend of $0.56. This represents a $2.48 annualized dividend and a yield of 0.84%. Microsoft’s payout ratio is presently 28.11%.
Microsoft declared that its Board of Directors has initiated a share repurchase plan on Tuesday, September 14th that allows the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization allows the software giant to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CMO Christopher C. Capossela sold 10,000 shares of the business’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $298.82, for a total value of $2,988,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kathleen T. Hogan sold 20,000 shares of the business’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $298.68, for a total value of $5,973,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 165,573 shares of company stock worth $50,066,379 over the last ninety days. Company insiders own 0.05% of the company’s stock.
Microsoft Company Profile
Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment comprises products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform.
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