RWQ Financial Management Services Inc. reduced its stake in shares of Microsoft Co. (NASDAQ: MSFT – Get a rating) by 10.2% in the 1st quarter, Holdings Channel.com reports. The fund held 34,841 shares of the software giant after selling 3,950 shares during the quarter. Microsoft accounts for about 8.8% of RWQ Financial Management Services Inc.’s holdings, making the stock its 5th largest holding. RWQ Financial Management Services Inc.’s holdings in Microsoft were worth $10,742,000 when it last filed with the SEC.
Other institutional investors and hedge funds have also recently increased or reduced their stakes in the company. Octavia Wealth Advisors LLC increased its stake in Microsoft shares by 0.5% in Q1. Octavia Wealth Advisors LLC now owns 20,633 shares of the software giant valued at $6,361,000 after acquiring 111 additional shares during the period. Red Door Wealth Management LLC increased its stake in Microsoft by 3.9% in Q1. Red Door Wealth Management LLC now owns 34,823 shares of the software giant valued at $10,736,000 after buying an additional 1,295 shares in the last quarter. Essex LLC increased its position in Microsoft by 194.4% in the first quarter. Essex LLC now owns 14,230 shares of the software giant valued at $4,387,000 after purchasing an additional 9,396 shares during the period. Epic Trust Investment Advisors LLC increased its stake in Microsoft by 17.3% during the first quarter. Epic Trust Investment Advisors LLC now owns 2,328 shares of the software giant worth $718,000 after buying 343 additional shares in the last quarter. Finally, Cottage Street Advisors LLC increased its position in Microsoft shares by 2.8% during the first quarter. Cottage Street Advisors LLC now owns 20,136 shares of the software giant worth $6,214,000 after buying an additional 549 shares during the period. Hedge funds and other institutional investors hold 69.99% of the company’s shares.
Analysts set new price targets
MSFT has been the subject of several research analyst reports. UBS Group set a price target of $330.00 on Microsoft in a Monday, June 20 report. Stifel Nicolaus reduced his price target on Microsoft from $350.00 to $320.00 in a Thursday, June 2 research report. Credit Suisse Group set a target price of $400.00 on Microsoft shares in a Friday, June 3 research note. Redburn Partners assumed coverage of Microsoft shares in a Wednesday, June 29 report. They set a “buy” rating and a price target of $370.00 for the company. Finally, Fundamental Research cut its price target on Microsoft stock from $299.93 to $298.00 and set a “hold” rating on the stock in a Tuesday, May 3 report. One equity research analyst gave the stock a hold rating and thirty gave the company a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $349.52.
Microsoft trades up 1.0%
Shares of MSFT action opened at $256.72 on Friday. The company has a market capitalization of $1.92 trillion, a P/E ratio of 26.80, a price-to-earnings growth ratio of 2.09 and a beta of 0.93. The company has a current ratio of 1.99, a quick ratio of 1.95 and a debt ratio of 0.30. The company’s 50-day moving average is $260.59 and its two-hundred-day moving average is $285.93. Microsoft Co. has a 12-month low of $241.51 and a 12-month high of $349.67.
Microsoft (NASDAQ: MSFT – Get a rating) last released its quarterly results on Tuesday, April 26. The software giant reported earnings per share of $2.22 for the quarter, beating the consensus estimate of $2.18 by $0.04. The company posted revenue of $49.36 billion in the quarter, versus a consensus estimate of $49.05 billion. Microsoft had a return on equity of 44.85% and a net margin of 37.63%. The company’s revenue for the quarter increased 18.4% year over year. During the same period last year, the company earned earnings per share of $1.95. Stock analysts expect Microsoft Co. to post EPS of 9.27 for the current year.
Microsoft dividend announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8. Investors of record on Thursday, August 18 will receive a dividend of $0.62 per share. The ex-dividend date is Wednesday, August 17. This represents an annualized dividend of $2.48 and a yield of 0.97%. Microsoft’s dividend payout ratio is currently 25.89%.
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, and associated client access licenses (CALs); Skype, Outlook.com, OneDrive and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and business divisions.
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