Randolph Co Inc lifted its stake in shares of Microsoft Corporation (NASDAQ:MSFT) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 340,850 shares of the software giant’s stock after acquiring an additional 400 shares during the quarter. Microsoft Corporation comprises about 4.5% of Randolph Co Inc’s investment portfolio, making the stock its 5th biggest holding. Randolph Co Inc’s holdings in Microsoft Corporation were worth $23,495,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hefty Wealth Partners boosted its holdings in Microsoft Corporation by 65.6% during the second quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock worth $113,000 after buying an additional 653 shares in the last quarter. Asset Planning Services Ltd. boosted its holdings in Microsoft Corporation by 93.0% during the first quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after buying an additional 837 shares in the last quarter. Ullmann Financial Group Inc. bought a new stake in Microsoft Corporation during the first quarter worth approximately $132,000. Arcus Capital Partners LLC bought a new stake in Microsoft Corporation during the first quarter worth approximately $205,000. Finally, Schneider Downs Wealth Management Advisors LP bought a new stake in Microsoft Corporation during the first quarter worth approximately $209,000. Institutional investors and hedge funds own 73.40% of the company’s stock.
A number of analysts recently weighed in on the stock. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $88.00 target price (up from $78.00) on shares of Microsoft Corporation in a report on Tuesday, July 18th. Bank of America Corporation restated a “buy” rating and set a $75.00 target price on shares of Microsoft Corporation in a report on Friday, June 16th. Stifel Nicolaus restated a “buy” rating and set a $73.00 target price on shares of Microsoft Corporation in a report on Monday, July 17th. Credit Suisse Group restated an “outperform” rating on shares of Microsoft Corporation in a report on Thursday, August 31st. Finally, Wells Fargo & Company set a $82.50 target price on shares of Microsoft Corporation and gave the stock a “buy” rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $77.44.
Microsoft Corporation (NASDAQ:MSFT) last issued its quarterly earnings data on Thursday, July 20th. The software giant reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.27. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The company had revenue of $24.70 billion for the quarter, compared to analyst estimates of $24.29 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.18%. This is a positive change from Microsoft Corporation’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, November 15th. Microsoft Corporation’s dividend payout ratio (DPR) is currently 57.78%.
In related news, insider Jean Philippe Courtois sold 26,763 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $74.00, for a total transaction of $1,980,462.00. Following the transaction, the insider now directly owns 537,519 shares of the company’s stock, valued at $39,776,406. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy Hood sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $72.71, for a total transaction of $3,999,050.00. Following the transaction, the chief financial officer now directly owns 510,217 shares in the company, valued at $37,097,878.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,108,526 shares of company stock worth $515,879,974. 2.99% of the stock is owned by insiders.
About Microsoft Corporation
Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.
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