Microsoft Co. (NASDAQ:MSFT) is Fifth Third Bancorp’s 2nd Largest Position

Fifth Third Bancorp increased its holdings in Microsoft Co. (NASDAQ:MSFTGet Rating) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,954,768 shares of the software giant’s stock after acquiring an additional 17,217 shares during the period. Microsoft makes up about 3.6% of Fifth Third Bancorp’s holdings, making the stock its 2nd largest holding. Fifth Third Bancorp’s holdings in Microsoft were worth $688,166,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MSFT. Monumental Financial Group Inc. acquired a new position in Microsoft during the first quarter worth $28,000. Newfound Research LLC lifted its stake in Microsoft by 25.4% during the second quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock worth $76,000 after purchasing an additional 60 shares in the last quarter. Darrow Company Inc. acquired a new position in Microsoft during the second quarter worth $82,000. Morgan Dempsey Capital Management LLC acquired a new position in Microsoft during the third quarter worth $82,000. Finally, Avondale Wealth Management lifted its stake in Microsoft by 58.6% during the third quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock worth $95,000 after purchasing an additional 150 shares in the last quarter. 69.15% of the stock is currently owned by hedge funds and other institutional investors.

Microsoft Stock Performance

NASDAQ MSFT opened at $242.04 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 1.84 and a debt-to-equity ratio of 0.26. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $315.95. The business’s 50-day moving average price is $241.72 and its 200 day moving average price is $249.53. The firm has a market cap of $1.80 trillion, a P/E ratio of 26.08, a P/E/G ratio of 2.36 and a beta of 0.94.

Microsoft (NASDAQ:MSFTGet Rating) last released its quarterly earnings results on Tuesday, January 24th. The software giant reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.02. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The firm had revenue of $52.75 billion for the quarter, compared to analyst estimates of $53.17 billion. During the same quarter last year, the company posted $2.48 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Microsoft Co. will post 9.51 earnings per share for the current year.

Microsoft Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Investors of record on Wednesday, February 15th will be given a $0.68 dividend. The ex-dividend date is Wednesday, February 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.12%. Microsoft’s payout ratio is currently 29.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Jefferies Financial Group set a $270.00 price target on Microsoft in a research note on Thursday, January 5th. The Goldman Sachs Group set a $315.00 price objective on Microsoft in a research note on Tuesday, January 17th. Wells Fargo & Company reduced their price objective on Microsoft from $315.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Guggenheim cut Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 price objective on the stock. in a research note on Tuesday, January 17th. Finally, Raymond James reduced their price objective on Microsoft from $300.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.79.

Insider Activity at Microsoft

In related news, EVP Judson Althoff sold 24,144 shares of the firm’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $254.27, for a total value of $6,139,094.88. Following the completion of the sale, the executive vice president now owns 150,047 shares in the company, valued at $38,152,450.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.03% of the stock is owned by insiders.

Microsoft Profile

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Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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