Cypress Point Wealth Management LLC lowered its stake in Microsoft Co. (NASDAQ:MSFT) by 80.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 552 shares of the software giant’s stock after selling 2,315 shares during the quarter. Cypress Point Wealth Management LLC’s holdings in Microsoft were worth $156,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Syverson Strege & Co purchased a new position in Microsoft in the third quarter valued at about $72,000. Yale University purchased a new position in Microsoft in the second quarter valued at about $110,000. Strategic Asset Management LLC purchased a new position in Microsoft in the third quarter valued at about $168,000. Advanced Research Investment Solutions LLC boosted its holdings in Microsoft by 914.3% in the third quarter. Advanced Research Investment Solutions LLC now owns 639 shares of the software giant’s stock valued at $180,000 after purchasing an additional 576 shares during the last quarter. Finally, Lake Point Wealth Management boosted its holdings in Microsoft by 11.6% in the third quarter. Lake Point Wealth Management now owns 666 shares of the software giant’s stock valued at $188,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 69.05% of the company’s stock.
MSFT has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on Microsoft from $360.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, October 27th. Sumitomo Mitsui Financial Group initiated coverage on Microsoft in a report on Wednesday, December 22nd. They set an “outperform” rating and a $410.00 target price on the stock. Evercore ISI increased their target price on Microsoft from $325.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, October 27th. UBS Group initiated coverage on Microsoft in a report on Tuesday, December 21st. They set an “outperform” rating on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $349.00 target price on shares of Microsoft in a report on Friday, September 17th. One research analyst has rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $351.34.
MSFT opened at $318.27 on Thursday. Microsoft Co. has a 12 month low of $212.03 and a 12 month high of $349.67. The stock has a market cap of $2.39 trillion, a P/E ratio of 35.60, a P/E/G ratio of 2.85 and a beta of 0.86. The stock’s 50 day moving average price is $332.13 and its 200 day moving average price is $307.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.16 and a quick ratio of 2.12.
Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Monday, October 25th. The software giant reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.19. Microsoft had a return on equity of 45.80% and a net margin of 38.51%. The company had revenue of $45.32 billion for the quarter, compared to analysts’ expectations of $44 billion. During the same period last year, the firm earned $1.82 EPS. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. Equities analysts anticipate that Microsoft Co. will post 9.13 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 10th. Stockholders of record on Thursday, February 17th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Wednesday, February 16th. Microsoft’s dividend payout ratio (DPR) is presently 27.74%.
In other news, insider Bradford L. Smith sold 55,000 shares of the firm’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $328.60, for a total transaction of $18,073,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Judson Althoff sold 54,757 shares of the firm’s stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $332.28, for a total value of $18,194,655.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 530,699 shares of company stock worth $181,312,457. 0.05% of the stock is owned by insiders.
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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