Heritage Investors Management Corp reduced its position in shares of Microsoft Corp. (NASDAQ:MSFT) by 5.6% during the third quarter, Holdings Channel reports. The firm owned 504,815 shares of the software giant’s stock after selling 29,892 shares during the period. Microsoft Corp. makes up approximately 2.1% of Heritage Investors Management Corp’s investment portfolio, making the stock its 2nd largest position. Heritage Investors Management Corp’s holdings in Microsoft Corp. were worth $29,077,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in MSFT. Invictus RG purchased a new position in Microsoft Corp. during the first quarter valued at $107,000. Riggs Asset Managment Co. Inc. increased its position in Microsoft Corp. by 6.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 2,375 shares of the software giant’s stock valued at $122,000 after buying an additional 147 shares during the last quarter. Roble Belko & Company Inc increased its position in Microsoft Corp. by 9.0% in the second quarter. Roble Belko & Company Inc now owns 2,535 shares of the software giant’s stock valued at $130,000 after buying an additional 210 shares during the last quarter. Peddock Capital Advisors LLC purchased a new position in Microsoft Corp. during the third quarter valued at $130,000. Finally, Northstar Group Inc. increased its position in Microsoft Corp. by 0.4% in the second quarter. Northstar Group Inc. now owns 3,953 shares of the software giant’s stock valued at $202,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 70.87% of the company’s stock.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 0.33% during trading on Monday, hitting $60.73. The stock had a trading volume of 10,811,334 shares. Microsoft Corp. has a 12-month low of $48.03 and a 12-month high of $61.37. The firm has a 50 day moving average price of $59.22 and a 200 day moving average price of $55.75. The firm has a market cap of $472.20 billion, a P/E ratio of 29.09 and a beta of 1.16.
Microsoft Corp. (NASDAQ:MSFT) last issued its earnings results on Thursday, October 20th. The software giant reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.08. The company earned $22.30 billion during the quarter, compared to analyst estimates of $21.71 billion. Microsoft Corp. had a return on equity of 30.92% and a net margin of 19.40%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. On average, equities analysts expect that Microsoft Corp. will post $2.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be paid a $0.39 dividend. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 2.58%. Microsoft Corp.’s dividend payout ratio (DPR) is 75.00%.
MSFT has been the topic of a number of recent research reports. Oppenheimer Holdings Inc. set a $65.00 price objective on Microsoft Corp. and gave the stock a “buy” rating in a report on Monday, October 24th. Vetr raised Microsoft Corp. from a “hold” rating to a “buy” rating and set a $59.95 price objective on the stock in a report on Tuesday, October 11th. Deutsche Bank AG reissued a “buy” rating and set a $70.00 price objective on shares of Microsoft Corp. in a report on Monday, November 7th. Macquarie reissued a “neutral” rating and set a $54.00 price objective on shares of Microsoft Corp. in a report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $60.00 price objective (up previously from $57.00) on shares of Microsoft Corp. in a report on Friday, October 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-four have issued a buy rating to the company. Microsoft Corp. presently has a consensus rating of “Buy” and an average target price of $62.26.
In other news, EVP Christopher C. Capossela sold 18,583 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $58.58, for a total transaction of $1,088,592.14. Following the sale, the executive vice president now directly owns 243,306 shares in the company, valued at approximately $14,252,865.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Christopher C. Capossela sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $60.51, for a total value of $726,120.00. Following the sale, the chief marketing officer now owns 253,306 shares in the company, valued at $15,327,546.06. The disclosure for this sale can be found here. 2.99% of the stock is owned by corporate insiders.
About Microsoft Corp.
Microsoft Corporation is a technology company. The Company develops, licenses and supports a range of software products, services and devices. Its segments are Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Its products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.