Granite Bay Wealth Management LLC lifted its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 2.0% in the 1st quarter, HoldingsChannel reports. The firm owned 7,047 shares of the software giant’s stock after buying an additional 141 shares during the quarter. Microsoft accounts for 1.8% of Granite Bay Wealth Management LLC’s portfolio, making the stock its 10th biggest position. Granite Bay Wealth Management LLC’s holdings in Microsoft were worth $2,173,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of MSFT. Norges Bank purchased a new stake in shares of Microsoft in the 4th quarter worth about $24,401,940,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Microsoft in the 4th quarter worth about $2,952,329,000. State Street Corp lifted its position in shares of Microsoft by 2.8% in the 4th quarter. State Street Corp now owns 302,541,869 shares of the software giant’s stock worth $101,750,881,000 after purchasing an additional 8,108,943 shares during the period. Castleview Partners LLC purchased a new stake in shares of Microsoft in the 4th quarter worth about $11,872,000. Finally, TD Asset Management Inc. lifted its position in shares of Microsoft by 28.5% in the 4th quarter. TD Asset Management Inc. now owns 14,476,729 shares of the software giant’s stock worth $4,868,814,000 after purchasing an additional 3,207,415 shares during the period. 69.99% of the stock is owned by hedge funds and other institutional investors.
Microsoft Stock Performance
Shares of NASDAQ MSFT opened at $268.74 on Thursday. The firm has a 50 day moving average of $260.33 and a 200 day moving average of $281.60. The company has a current ratio of 1.99, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93. Microsoft Co. has a 12-month low of $241.51 and a 12-month high of $349.67.
Microsoft (NASDAQ:MSFT – Get Rating) last announced its earnings results on Tuesday, July 26th. The software giant reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.06). Microsoft had a net margin of 37.63% and a return on equity of 44.85%. During the same quarter in the prior year, the business earned $2.17 EPS. On average, research analysts anticipate that Microsoft Co. will post 9.27 earnings per share for the current year.
Microsoft Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $2.48 annualized dividend and a yield of 0.92%. Microsoft’s dividend payout ratio (DPR) is 25.89%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on MSFT shares. JPMorgan Chase & Co. dropped their target price on shares of Microsoft from $320.00 to $305.00 in a research report on Wednesday. UBS Group set a $330.00 price target on shares of Microsoft in a research report on Monday, June 20th. Jefferies Financial Group lowered their price target on shares of Microsoft from $325.00 to $320.00 in a research report on Monday, June 13th. Royal Bank of Canada set a $380.00 price target on shares of Microsoft in a research report on Thursday, May 19th. Finally, Stifel Nicolaus lowered their price target on shares of Microsoft from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday. One analyst has rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Microsoft currently has an average rating of “Moderate Buy” and a consensus price target of $338.09.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.
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