Monarch Capital Management Inc. Cuts Stock Position in Microsoft Co. (NASDAQ:MSFT)

Monarch Capital Management Inc. trimmed its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,163 shares of the software giant’s stock after selling 1,135 shares during the quarter. Microsoft comprises 3.3% of Monarch Capital Management Inc.’s holdings, making the stock its 4th biggest position. Monarch Capital Management Inc.’s holdings in Microsoft were worth $9,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Koshinski Asset Management Inc. grew its stake in shares of Microsoft by 4.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 19,814 shares of the software giant’s stock worth $2,755,000 after purchasing an additional 898 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Microsoft by 6.8% in the 3rd quarter. Empirical Finance LLC now owns 9,298 shares of the software giant’s stock worth $1,293,000 after purchasing an additional 591 shares during the last quarter. State of Tennessee Treasury Department grew its stake in shares of Microsoft by 3.1% in the 3rd quarter. State of Tennessee Treasury Department now owns 4,363,290 shares of the software giant’s stock worth $606,628,000 after purchasing an additional 132,421 shares during the last quarter. Canal Capital Management LLC grew its stake in shares of Microsoft by 3.5% in the 3rd quarter. Canal Capital Management LLC now owns 20,681 shares of the software giant’s stock worth $2,875,000 after purchasing an additional 705 shares during the last quarter. Finally, Baystate Wealth Management LLC grew its stake in shares of Microsoft by 3.7% in the 3rd quarter. Baystate Wealth Management LLC now owns 19,537 shares of the software giant’s stock worth $2,716,000 after purchasing an additional 692 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Several brokerages have recently issued reports on MSFT. ValuEngine cut shares of Microsoft from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Microsoft from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a research report on Friday, October 25th. Barclays set a $168.00 target price on shares of Microsoft and gave the stock a “buy” rating in a research report on Friday, November 1st. Cleveland Research reissued a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. Finally, Morgan Stanley lifted their target price on shares of Microsoft from $155.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. Microsoft currently has an average rating of “Buy” and an average price target of $159.45.

In related news, EVP Jean Philippe Courtois sold 11,345 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $145.06, for a total transaction of $1,645,705.70. Following the completion of the transaction, the executive vice president now directly owns 611,855 shares in the company, valued at approximately $88,755,686.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kathleen T. Hogan sold 40,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $135.25, for a total transaction of $5,410,000.00. Following the transaction, the executive vice president now owns 198,042 shares of the company’s stock, valued at $26,785,180.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,804 shares of company stock valued at $46,790,619. Corporate insiders own 1.39% of the company’s stock.

Shares of MSFT opened at $145.96 on Friday. The company’s 50 day moving average price is $139.85 and its 200 day moving average price is $135.04. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.81 and a current ratio of 2.85. Microsoft Co. has a 52 week low of $93.96 and a 52 week high of $145.99. The company has a market capitalization of $1,102.06 billion, a PE ratio of 30.73, a PEG ratio of 2.27 and a beta of 1.23.

Microsoft (NASDAQ:MSFT) last released its earnings results on Wednesday, October 23rd. The software giant reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.14. The firm had revenue of $33.06 billion during the quarter, compared to analysts’ expectations of $32.24 billion. Microsoft had a net margin of 31.66% and a return on equity of 39.14%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 EPS. On average, equities analysts forecast that Microsoft Co. will post 5.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.51 per share. This is a boost from Microsoft’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.40%. The ex-dividend date is Wednesday, November 20th. Microsoft’s dividend payout ratio is presently 38.74%.

Microsoft declared that its board has approved a stock buyback plan on Wednesday, September 18th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the software giant to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Microsoft Company Profile

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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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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