Campbell Newman Asset Management Inc. lowered its holdings in Microsoft Co. (NASDAQ:MSFT – Free Report) by 12.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 216,573 shares of the software giant’s stock after selling 31,261 shares during the quarter. Microsoft comprises 6.1% of Campbell Newman Asset Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Campbell Newman Asset Management Inc.’s holdings in Microsoft were worth $62,438,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Moneta Group Investment Advisors LLC grew its stake in Microsoft by 112,158.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 150,187,424 shares of the software giant’s stock worth $36,017,948,000 after buying an additional 150,053,637 shares during the last quarter. Norges Bank purchased a new position in Microsoft during the 4th quarter worth approximately $20,700,525,000. Aaron Wealth Advisors LLC grew its stake in Microsoft by 35,465.9% during the 1st quarter. Aaron Wealth Advisors LLC now owns 20,611,140 shares of the software giant’s stock worth $66,852,000 after buying an additional 20,553,188 shares during the last quarter. Morgan Stanley grew its stake in Microsoft by 14.0% during the 4th quarter. Morgan Stanley now owns 119,417,954 shares of the software giant’s stock worth $28,638,815,000 after buying an additional 14,652,150 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Microsoft by 98.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 15,218,570 shares of the software giant’s stock worth $3,649,717,000 after buying an additional 7,534,774 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.
Insiders Place Their Bets
In other news, insider Bradford L. Smith sold 50,000 shares of Microsoft stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $337.20, for a total value of $16,860,000.00. Following the completion of the sale, the insider now owns 588,084 shares of the company’s stock, valued at $198,301,924.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CMO Christopher C. Capossela sold 5,000 shares of Microsoft stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $316.87, for a total value of $1,584,350.00. Following the completion of the sale, the chief marketing officer now owns 89,328 shares of the company’s stock, valued at $28,305,363.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bradford L. Smith sold 50,000 shares of Microsoft stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total value of $16,860,000.00. Following the completion of the sale, the insider now directly owns 588,084 shares of the company’s stock, valued at approximately $198,301,924.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,331 shares of company stock valued at $20,450,828. Corporate insiders own 0.03% of the company’s stock.
Microsoft Stock Performance
Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The software giant reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.14. The company had revenue of $56.19 billion during the quarter, compared to the consensus estimate of $55.49 billion. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. Microsoft’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.23 earnings per share. On average, analysts anticipate that Microsoft Co. will post 10.85 EPS for the current fiscal year.
Microsoft Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, August 16th. Microsoft’s payout ratio is 28.07%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Sanford C. Bernstein raised their price target on Microsoft from $280.00 to $322.00 in a research note on Monday, April 24th. The Goldman Sachs Group lifted their target price on Microsoft from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Royal Bank of Canada lifted their target price on Microsoft from $350.00 to $390.00 in a research note on Wednesday, July 26th. Fundamental Research downgraded Microsoft from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Finally, Barclays lifted their target price on Microsoft from $336.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirty-two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $370.76.
Check Out Our Latest Stock Analysis on Microsoft
Microsoft Company Profile
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.
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