Piscataqua Savings Bank acquired Microsoft Co. (NASDAQ:MSFT – Get Rating) and rose 2.2% in the first quarter, HoldingsChannel.com reported. The institutional investor held 28,189 shares of the software giant after buying another 614 shares during the period. Microsoft owns a roughly 6.2% stake in Piscataqua Savings Bank, making the stock its largest holding. Piscataqua Savings Bank’s holdings in Microsoft at the end of the last reporting period were $8,690,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares in the company. Rothschild Investment Corp IL increased its stake in Microsoft by 3.6% in the first quarter. Rothschild Investment Corp IL now holds 73,665 shares of the software giant, valued at $22,712,000, after purchasing an additional 2,577 shares during the period. Holloway Wealth Management LLC increased its position in Microsoft shares by 12.0% in the first quarter. Holloway Wealth Management LLC now owns 2,339 shares of the software giant at a price of $721,000 after purchasing an additional 250 shares during this period. TimeScale Financial Inc. increased its position in Microsoft shares by 0.7% in the first quarter. TimeScale Financial Inc. now owns 6,146 shares of the software giant, valued at $1,895,000, after purchasing an additional 42 shares during the period. PDS Planning Inc. increased its stake in Microsoft stock by 46.6% in the first quarter. After purchasing an additional 7,168 shares last quarter, PDS Planning Inc. now owns 22,547 shares of the software giant, valued at $6,951,000. Finally, Annex Advisory Services LLC increased its stake in Microsoft to 14.1% during the first quarter. After purchasing an additional 6,473 shares during the period, Annex Advisory Services LLC now holds 52,283 shares of the software giant, valued at $16,119,000. 69.99% of the shares are currently owned by hedge funds and other institutional investors.
NASDAQ:MSFT shares opened at $266.21 on Thursday. The company’s 50-day moving average is $263.74 and its 200-day moving average is $288.98. The company has a quick ratio of 1.95, a current ratio of 1.99 and a debt to equity ratio of 0.30. The company has a market cap of $1.99 trillion, a price-to-earnings ratio of 27.79, a price-to-earnings-to-growth ratio of 2.12 and a beta of 0.93. Microsoft’s 52-week low is $241.51 and its 52-week high is $349.67.
Microsoft (NASDAQ:MSFT – GET RATINGS) released its quarterly earnings results on Tuesday, April 26th. The software giant reported $2.22 EPS for the quarter, up $0.04 from the consensus estimate of $2.18. Microsoft had a return on equity of 44.85% and a net margin of 37.63%. The company’s revenue for the quarter was $49.36 billion versus analyst estimates of $49.05 billion. In the same period last year, the company reported earnings per share of $1.95. Operating income for the quarter increased 18.4% compared to the same quarter last year. On average, sell-side analysts expect the Microsoft company to post 9.28 EPS for the year to date.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. A dividend of $0.62 per share will be paid to shareholders of record on Thursday, August 18th. That equates to an annual dividend of $2.48 and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday August 17th. Microsoft’s payout ratio is 25.89%.
MSFT has been the subject of many research analyst reports. Credit Suisse Group set a price target of $400.00 for Microsoft in a research report on Friday, June 3rd. StockNews.com began reporting on Microsoft stock in a research report on Thursday, March 31st. They gave the stock a “buy” rating. Wells Fargo & Company cut its price target on Microsoft shares to $400.00 from $425.00 and rated the company as “overweight” in a research report on Tuesday, April 19. Barclays lowered its target price on Microsoft shares to $335.00 from $363.00 and gave the stock an “overweight” rating in a report on Friday, June 10. Finally, the Jefferies Financial Group lowered its target price on Microsoft shares to $320.00 from $325.00 in a report on Monday, June 13. A research analyst gave the stock a hold rating and Tis gave it a hold rating Company given a buy rating. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $353.93.
About Microsoft (received rating)
Microsoft Corporation develops, licenses, and supports software, services, tools, and solutions worldwide. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 security and compliance and Skype for Business and the associated Client Access License (CAL); Skype, Outlook.com, OneDrive and LinkedIn; and Dynamics 365, a suite of cloud-based and on-premises business solutions for organizations and divisions.
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