New Mexico Educational Retirement Board decreased its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 591,247 shares of the software giant’s stock after selling 37,400 shares during the quarter. Microsoft comprises approximately 3.7% of New Mexico Educational Retirement Board’s investment portfolio, making the stock its largest holding. New Mexico Educational Retirement Board’s holdings in Microsoft were worth $82,201,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in MSFT. LFA Lugano Financial Advisors SA grew its position in Microsoft by 274.5% in the 2nd quarter. LFA Lugano Financial Advisors SA now owns 191 shares of the software giant’s stock valued at $26,000 after purchasing an additional 140 shares during the period. Krane Funds Advisors LLC acquired a new stake in Microsoft in the 2nd quarter valued at $26,000. Selective Wealth Management Inc. acquired a new stake in Microsoft in the 3rd quarter valued at $36,000. Atwater Malick LLC acquired a new stake in Microsoft in the 3rd quarter valued at $37,000. Finally, AlphaOne Investment Services LLC acquired a new stake in Microsoft in the 2nd quarter valued at $51,000. 71.83% of the stock is owned by institutional investors.
In other Microsoft news, EVP Kathleen T. Hogan sold 40,000 shares of Microsoft stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $135.25, for a total transaction of $5,410,000.00. Following the completion of the transaction, the executive vice president now owns 198,042 shares of the company’s stock, valued at approximately $26,785,180.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jean Philippe Courtois sold 11,345 shares of Microsoft stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $145.06, for a total value of $1,645,705.70. Following the transaction, the executive vice president now directly owns 611,855 shares of the company’s stock, valued at approximately $88,755,686.30. The disclosure for this sale can be found here. Insiders have sold a total of 105,198 shares of company stock valued at $14,588,720 in the last ninety days. Insiders own 1.39% of the company’s stock.
Shares of NASDAQ MSFT traded up $0.54 during mid-day trading on Wednesday, reaching $149.85. 17,573,883 shares of the company’s stock were exchanged, compared to its average volume of 17,994,986. The firm has a market capitalization of $1,143.18 billion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.23. Microsoft Co. has a 52 week low of $93.96 and a 52 week high of $152.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.85 and a quick ratio of 2.81. The firm has a 50-day moving average price of $145.55 and a two-hundred day moving average price of $137.86.
Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, October 23rd. The software giant reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.14. Microsoft had a return on equity of 39.14% and a net margin of 31.66%. The business had revenue of $33.06 billion for the quarter, compared to analysts’ expectations of $32.24 billion. During the same period in the previous year, the business posted $1.14 EPS. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Microsoft Co. will post 5.35 EPS for the current fiscal year.
Microsoft declared that its Board of Directors has approved a stock buyback program on Wednesday, September 18th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the software giant to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Wednesday, February 19th. Microsoft’s payout ratio is presently 42.95%.
Several analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Microsoft from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Monday, October 7th. Cleveland Research restated a “buy” rating on shares of Microsoft in a research note on Friday, October 18th. Royal Bank of Canada raised their price objective on Microsoft from $160.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Credit Suisse Group restated an “outperform” rating on shares of Microsoft in a research note on Monday, November 18th. Finally, Wedbush restated an “outperform” rating on shares of Microsoft in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $159.45.
Microsoft Company Profile
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.
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