Today: Today, Microsoft Corp. (MSFT) Stake Boosted by Cidel Asset Management Inc.

Today, Microsoft Corp. (MSFT) Stake Boosted by Cidel Asset Management Inc.

Cidel Asset Management Inc. increased its position in Microsoft Corp. (NASDAQ:MSFT) by 7.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 311,870 shares of the software giant’s stock after buying an additional 20,531 shares during the period. Microsoft Corp. accounts for about 0.9% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 28th largest position. Cidel Asset Management Inc.’s holdings in Microsoft Corp. were worth $15,958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Stokes & Hubbell Capital Management LLC boosted its position in Microsoft Corp. by 15.5% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 36,790 shares of the software giant’s stock worth $2,032,000 after buying an additional 4,939 shares in the last quarter. Moreno Evelyn V boosted its position in Microsoft Corp. by 7.8% in the first quarter. Moreno Evelyn V now owns 78,040 shares of the software giant’s stock worth $4,310,000 after buying an additional 5,615 shares in the last quarter. Rosenbaum Jay D. boosted its position in Microsoft Corp. by 6.1% in the first quarter. Rosenbaum Jay D. now owns 28,238 shares of the software giant’s stock worth $1,560,000 after buying an additional 1,628 shares in the last quarter. Ronna Sue Cohen boosted its position in Microsoft Corp. by 0.6% in the first quarter. Ronna Sue Cohen now owns 17,290 shares of the software giant’s stock worth $955,000 after buying an additional 109 shares in the last quarter. Finally, Regent Investment Management LLC boosted its position in Microsoft Corp. by 39.5% in the first quarter. Regent Investment Management LLC now owns 14,916 shares of the software giant’s stock worth $823,000 after buying an additional 4,220 shares in the last quarter. Institutional investors own 71.69% of the company’s stock.

Microsoft Corp. (NASDAQ:MSFT) traded up 0.79% during midday trading on Tuesday, reaching $57.67. The company’s stock had a trading volume of 5,635,260 shares. Microsoft Corp. has a 12-month low of $47.02 and a 12-month high of $58.70. The company’s 50-day moving average is $57.38 and its 200 day moving average is $54.46. The firm has a market cap of $449.39 billion, a price-to-earnings ratio of 27.46 and a beta of 1.09.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.73%. This is a boost from Microsoft Corp.’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, November 15th. Microsoft Corp.’s payout ratio is 70.24%.

A number of research analysts have issued reports on the company. Deutsche Bank AG reiterated a “buy” rating and issued a $65.00 target price on shares of Microsoft Corp. in a research report on Wednesday, September 28th. Vetr lowered Microsoft Corp. from a “buy” rating to a “hold” rating and set a $59.96 price target on the stock. in a research note on Wednesday, September 21st. Cowen and Company reissued an “outperform” rating and set a $60.00 price target on shares of Microsoft Corp. in a research note on Friday, September 30th. Macquarie reissued a “neutral” rating and set a $54.00 price target on shares of Microsoft Corp. in a research note on Friday, September 23rd. Finally, Goldman Sachs Group Inc. reissued a “hold” rating and set a $57.00 price target on shares of Microsoft Corp. in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Microsoft Corp. has a consensus rating of “Buy” and an average price target of $59.62.

In other news, Director William H. Gates III sold 2,500,000 shares of Microsoft Corp. stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $55.94, for a total value of $139,850,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Amy Hood sold 120,000 shares of Microsoft Corp. stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $57.86, for a total value of $6,943,200.00. Following the completion of the sale, the chief financial officer now directly owns 523,425 shares in the company, valued at $30,285,370.50. The disclosure for this sale can be found here. 3.76% of the stock is owned by insiders.

About Microsoft Corp.

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