Cadence Capital Management Lowers stake in Microsoft Corporation (MSFT)

Microsoft Corporation (MSFT) : Cadence Capital Management reduced its stake in Microsoft Corporation by 5.6% during the most recent quarter end. The investment management company now holds a total of 278,026 shares of Microsoft Corporation which is valued at $15,839,141 after selling 16,479 shares in Microsoft Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Microsoft Corporation makes up approximately 1.15% of Cadence Capital Management’s portfolio.

Other Hedge Funds, Including , Edgemoor Investment Advisors reduced its stake in MSFT by selling 4,652 shares or 1.06% in the most recent quarter. The Hedge Fund company now holds 434,650 shares of MSFT which is valued at $24,762,011. Microsoft Corporation makes up approx 3.83% of Edgemoor Investment Advisors’s portfolio.Welch Forbes boosted its stake in MSFT in the latest quarter, The investment management firm added 5,297 additional shares and now holds a total of 966,203 shares of Microsoft Corporation which is valued at $55,044,585. Microsoft Corporation makes up approx 1.63% of Welch Forbes’s portfolio.Sigma Planning Corp boosted its stake in MSFT in the latest quarter, The investment management firm added 1,210 additional shares and now holds a total of 103,055 shares of Microsoft Corporation which is valued at $5,829,821. Microsoft Corporation makes up approx 0.74% of Sigma Planning Corp’s portfolio.Northwest Investment Counselors reduced its stake in MSFT by selling 986 shares or 2.08% in the most recent quarter. The Hedge Fund company now holds 46,444 shares of MSFT which is valued at $2,627,337. Microsoft Corporation makes up approx 1.39% of Northwest Investment Counselors’s portfolio.Howard Capital Management boosted its stake in MSFT in the latest quarter, The investment management firm added 6,023 additional shares and now holds a total of 318,783 shares of Microsoft Corporation which is valued at $17,823,158. Microsoft Corporation makes up approx 3.29% of Howard Capital Management’s portfolio.

Microsoft Corporation opened for trading at $58.055 and hit $58.085 on the upside on Monday, eventually ending the session at $58.06, with a gain of 0.17% or 0.1 points. The heightened volatility saw the trading volume jump to 1,94,73,499 shares. Company has a market cap of $452,433 M.

On the company’s financial health, Microsoft Corporation reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.58. The company had revenue of $22642.00 million for the quarter, compared to analysts expectations of $22137.35 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Investors should note that on Jun 14, 2016, Microsoft Corporation announced a cash dividend of $0.3600. The company’s management has announced Aug 16, 2016 as the ex-dividend date and fixed the record date on Aug 18, 2016. The payable date has been fixed on Sep 8, 2016.

Many Wall Street Analysts have commented on Microsoft Corporation. Company shares were Reiterated by FBN Securities on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 65 from a previous price target of $55 .Company shares were Reiterated by UBS on Jul 20, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $59 .Company shares were Reiterated by BMO Capital Markets on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 62 from a previous price target of $57 .

Microsoft Corporation is engaged in developing licensing and supporting a range of software products and services. The Company also designs and sells hardware and delivers online advertising to the customers. The Company operates in five segments: Devices and Consumer (D&C) Licensing D&C Hardware D&C Other Commercial Licensing and Commercial Other. The Company’s products include operating systems for computing devices servers phones and other intelligent devices; server applications for distributed computing environments; productivity applications; business solution applications; desktop and server management tools; software development tools; video games; and online advertising. It also offers cloud-based solutions that provide customers with software services and content over the Internet by way of shared computing resources located in centralized data centers. It provides consulting and product and solution support services.

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