DAVENPORT & Co LLC lowered its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,429,196 shares of the software giant’s stock after selling 7,868 shares during the period. Microsoft comprises about 2.0% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 6th biggest position. DAVENPORT & Co LLC’s holdings in Microsoft were worth $145,163,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Highwater Wealth Management LLC bought a new stake in Microsoft during the 4th quarter valued at about $27,000. Mackey Komara & Dankovich LLC bought a new stake in Microsoft during the 4th quarter valued at about $30,000. Ayalon Holdings Ltd. bought a new stake in Microsoft during the 4th quarter valued at about $41,000. Contravisory Investment Management Inc. increased its stake in Microsoft by 113.1% during the 4th quarter. Contravisory Investment Management Inc. now owns 537 shares of the software giant’s stock valued at $55,000 after purchasing an additional 285 shares in the last quarter. Finally, Avondale Wealth Management increased its stake in Microsoft by 50.5% during the 4th quarter. Avondale Wealth Management now owns 557 shares of the software giant’s stock valued at $57,000 after purchasing an additional 187 shares in the last quarter. 72.10% of the stock is currently owned by institutional investors.
Shares of MSFT stock traded up $0.13 during mid-day trading on Friday, hitting $132.45. The company had a trading volume of 17,759,398 shares, compared to its average volume of 21,978,830. Microsoft Co. has a 52-week low of $93.96 and a 52-week high of $134.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.93 and a current ratio of 2.97. The company has a market capitalization of $1,013.94 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 2.32 and a beta of 1.22.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 15th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, August 14th. Microsoft’s payout ratio is 47.42%.
MSFT has been the subject of a number of analyst reports. Goldman Sachs Group restated a “buy” rating and set a $131.00 price objective on shares of Microsoft in a research note on Thursday, April 18th. KeyCorp reiterated a “buy” rating and issued a $141.00 price target (up from $125.00) on shares of Microsoft in a research note on Wednesday, April 17th. ValuEngine upgraded shares of Microsoft from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Credit Suisse Group reiterated a “buy” rating and issued a $125.00 price target on shares of Microsoft in a research note on Friday, February 15th. Finally, Mizuho initiated coverage on shares of Microsoft in a research note on Wednesday, March 13th. They issued a “buy” rating and a $135.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $135.75.
In related news, EVP Kathleen T. Hogan sold 15,947 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $133.17, for a total transaction of $2,123,661.99. Following the sale, the executive vice president now owns 202,518 shares of the company’s stock, valued at $26,969,322.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christopher C. Capossela sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $126.02, for a total transaction of $630,100.00. Following the transaction, the executive vice president now owns 144,934 shares in the company, valued at approximately $18,264,582.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,247 shares of company stock worth $28,204,754. 1.38% of the stock is owned by insiders.
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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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