Gareth Morgan Investments Limited Partnership trimmed its position in Microsoft Corporation (NASDAQ:MSFT) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 379,715 shares of the software giant’s stock after selling 4,368 shares during the quarter. Microsoft Corporation comprises about 2.1% of Gareth Morgan Investments Limited Partnership’s investment portfolio, making the stock its 4th biggest position. Gareth Morgan Investments Limited Partnership’s holdings in Microsoft Corporation were worth $25,008,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Asset Planning Services Ltd. increased its holdings in shares of Microsoft Corporation by 93.0% in the first quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after purchasing an additional 837 shares during the last quarter. Pacific Center for Financial Services bought a new stake in Microsoft Corporation during the fourth quarter worth approximately $155,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Microsoft Corporation during the fourth quarter worth approximately $161,000. 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. 73.47% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on MSFT. Vetr cut Microsoft Corporation from a “buy” rating to a “hold” rating and set a $74.32 price objective on the stock. in a research note on Tuesday. BidaskClub cut Microsoft Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Credit Suisse Group set a $84.00 price objective on Microsoft Corporation and gave the stock a “buy” rating in a research note on Friday, August 11th. Raymond James Financial, Inc. boosted their price objective on Microsoft Corporation to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Finally, Barclays PLC reissued an “overweight” rating and set a $82.00 price objective (up from $77.00) on shares of Microsoft Corporation in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty have given a buy rating to the company’s stock. Microsoft Corporation has a consensus rating of “Buy” and an average price target of $76.72.
In other news, insider Jean Philippe Courtois sold 26,763 shares of the business’s stock in a transaction dated Tuesday, July 25th. 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 544,080 shares in the company, valued at $40,261,920. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider G Mason Morfit sold 7,000,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $72.56, for a total transaction of $507,920,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,108,526 shares of company stock worth $515,879,974. Company insiders own 2.99% of the company’s stock.
Microsoft Corporation (NASDAQ:MSFT) traded down 0.24% during midday trading on Tuesday, reaching $74.58. 6,342,948 shares of the company’s stock traded hands. Microsoft Corporation has a 1-year low of $55.98 and a 1-year high of $75.24. The company has a market capitalization of $574.43 billion, a PE ratio of 27.52 and a beta of 1.00. The firm’s 50 day moving average price is $73.08 and its 200-day moving average price is $69.29.
Microsoft Corporation (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.27. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The business had revenue of $24.70 billion for the quarter, compared to analyst estimates of $24.29 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Equities analysts expect that Microsoft Corporation will post $3.17 EPS for the current year.
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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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