Sit Investment Associates INC Increased Microsoft Corp (NASDAQ:MSFT) by $8.09 Million as Shares Rose


Sit Investment Associates Inc increased its stake in Microsoft Corp (NASDAQ:MSFT) by 6.83% based on its latest 2016Q2 regulatory filing with the SEC. Sit Investment Associates Inc bought 147,155 shares as the company’s stock rose 0.78% with the market. The institutional investor held 2.30 million shares of the prepackaged software company at the end of 2016Q2, valued at $127.06M, up from 2.15M at the end of the previous reported quarter. Sit Investment Associates Inc who had been investing in Microsoft Corp for a number of months, seems to be bullish on the $445.20B market cap company. The stock is down 1.33% or $0.76 hitting $56.29, despite the positive news. About 14.46M shares traded hands. Microsoft Corporation (NASDAQ:MSFT) has risen 15.46% since February 8, 2016 and is uptrending. It has underperformed by 1.03% the S&P500.

Sit Investment Associates Inc, which manages about $6.54B and $5.46B US Long portfolio, decreased its stake in Wells Fargo & Co (NYSE:WFC) by 82,990 shares to 1.52M shares, valued at $73.72M in 2016Q2, according to the filing. It also reduced its holding in Wec Energy Group Inc by 403,645 shares in the quarter, leaving it with 678,175 shares, and cut its stake in Blackrock Taxable Muni Bond Tr (NYSE:BBN).

Sit Investment Associates Inc is a Minnesota-based institutional investor with more than $6.54 billion AUM in December, 2014. Taken from Sit Investment Associates latest Adv, the fund reported to have 72 full and part-time employees. Among which 34 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

The institutional sentiment decreased to 0.99 in 2016 Q2. Its down 0.07, from 1.06 in 2016Q1. The ratio dropped, as 100 funds sold all MSFT shares owned while 841 reduced positions. 97 funds bought stakes while 836 increased positions. They now own 5.44 billion shares or 3.78% less from 5.66 billion shares in 2016Q1.

Tradewinds Capital Management Llc holds 14.66% of its portfolio in MSFT for 399,797 shares. Cook & Bynum Capital Management Llc owns 407,238 shares or 14.33% of their US portfolio. Moreover, Srb Corp has 13.75% invested in the company for 1.75 million shares. The Massachusetts-based Abrams Capital Management L.P. has invested 13.31% in the stock. Merriman Wealth Management Llc, a Washington-based fund reported 905,439 shares.

Out of 22 analysts covering Microsoft (NASDAQ:MSFT), 16 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 73% are positive. $66 is the highest target while $36 is the lowest. The $57.40 average target is 1.97% above today’s ($56.29) stock price. Microsoft has been the topic of 48 analyst reports since September 22, 2015 according to StockzIntelligence Inc. UBS maintained the stock on August 29 with “Buy” rating. Macquarie Research initiated it with “Neutral” rating and $51 target price in an April 26 report. FBN Securities maintained the shares of MSFT in a report on July 20 with “Outperform” rating. Nomura maintained the firm’s rating on April 19. Nomura has “Buy” rating and $36 price target. Lastly, Wunderlich maintained the stock with “Hold” rating in a July 20 report.

Microsoft Corporation is a technology company. The company has a market cap of $445.20 billion. The Firm develops, licenses and supports a range of software products, services and devices. It has a 26.78 P/E ratio. The Company’s divisions are Productivity and Business Processes, Intelligent Cloud, and More Personal Computing.

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