Coho Partners Ltd. lowered its position in Microsoft Co. (NASDAQ: MSFT – Get Rating) by 3.3% in Q1, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund held 7,248 shares of the software giant after selling 250 shares during the period. The holdings of Coho Partners Ltd. in Microsoft were worth $2,235,000 when it was last filed with the Securities and Exchange Commission (SEC).
Other institutional investors have also increased or reduced their stake in the company. State Street Corp increased its position in Microsoft shares by 2.8% during the fourth quarter. State Street Corp now owns 302,541,869 shares of the software giant worth $101,750,881,000 after acquiring an additional 8,108,943 shares during the period. Geode Capital Management LLC increased its position in Microsoft shares by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 129,107,118 shares of the software giant worth $43,313,705,000 after acquiring an additional 3,027,306 shares during the period. Norges Bank bought a new position in Microsoft stock during the fourth quarter for a value of approximately $24,401,940,000. Nuveen Asset Management LLC increased its position in Microsoft shares by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 57,181,533 shares of the software giant worth $19,231,292,000 after acquiring an additional 584,273 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Microsoft shares by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 39,096,786 shares of the software giant worth $13,149,038,000 after acquiring an additional 652,526 shares during the period. Institutional investors hold 69.99% of the company’s shares.
Wall Street analysts predict growth
A number of stock analysts have recently commented on the stock. Wells Fargo & Company cut its target price on Microsoft stock from $400.00 to $350.00 and set an “overweight” rating on the stock in a Monday, July 25 research report. JPMorgan Chase & Co. cut its target price on Microsoft stock from $320.00 to $305.00 and set a “hold” rating on the stock in a research report Wednesday. Royal Bank of Canada set a price target of $380.00 on Microsoft shares in a Thursday, May 19 report. Morgan Stanley cut its price target on Microsoft shares from $372.00 to $354.00 and set an “overweight” rating on the stock in a Tuesday, July 12 report. Finally, Cowen reissued a “hold” note on Microsoft’s stock in a report Wednesday. One investment analyst gave the stock a hold rating and twenty-nine gave the company’s stock a buy rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $334.80.
Microsoft trades up 1.6%
NASDAQ: MSFT opened at $280.74 on Friday. Microsoft Co. has a 12-month low of $241.51 and a 12-month high of $349.67. The company has a fifty-day simple moving average of $261.36 and a 200-day simple moving average of $281.34. The company has a current ratio of 1.99, a quick ratio of 1.95 and a debt ratio of 0.30. The company has a market capitalization of $2.10 trillion, a P/E ratio of 29.30, a PEG ratio of 2.01 and a beta of 0.93.
Microsoft (NASDAQ:MSFT – Get Rating) last released its results on Tuesday, July 26. The software giant reported earnings per share (EPS) of $2.23 for the quarter, missing consensus analyst estimates of $2.29 per ($0.06). Microsoft had a net margin of 37.63% and a return on equity of 44.85%. In the same quarter last year, the company achieved EPS of $2.17. On average, stock research analysts expect Microsoft Co. to post earnings per share of 9.27 for the current year.
Microsoft dividend announcement
The company also recently announced 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 a dividend of $2.48 on an annualized basis and a yield of 0.88%. Microsoft’s dividend payout ratio is currently 25.89%.
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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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