Archive for January, 2016

Cambridge Bancorp Posts 5 Percent Increase In 2015

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Cambridge Bancorp posted a 5 percent increase in net income last year, boosted by growth in lending and wealth management fee income.

Net income for the year ended Dec. 31 totaled $15.7 million, compared with $14.94 million in 2014.

“We are pleased to report the bank delivered another record earnings year with robust core deposit and loan growth,” said Denis K. Sheahan, president and CEO. “Cambridge Trust posted strong profitability metrics for the year with return on average assets of 0.95 percent and return on average stockholders’ equity of 12.91 percent.”

Core deposits grew 9.5 percent year-over-year to $1.6 billion, and loans increased 10.3 percent to $1.2 billion. Commercial mortgages increased $69.2 million, or 15.7 percent; residential mortgages increased $39 million, or 7.7 percent; and home equity loans increased $6.9 million, or 12.3 percent.

Net interest income increased $3.4 million, or 7 percent, to $51.6 million at year-end 2015. Loan growth in 2014 and 2015 helped to boost interest income from loans by $4.9 million, or 12 percent. The bank’s net interest margin declined six basis points to 3.27 percent at year-end 2015.

Noninterest income totaled $25.9 million for the year 2015 compared with $24.5 million in 2014, with the bank’s wealth management business driving most of that increase. Wealth management income increased by $1.3 million, or 7.2 percent, to $19.2 million compared with $18 million in 2014. Assets under management totaled $2.3 billion at year-end 2015.

Those gains in noninterest income were offset by lower gains on disposition of investment securities of $383,000, lower deposit account fees of $92,000, lower other income of $58,000, and lower ATM and debit card fees of $55,000 for the year ended Dec. 31.

As part of overall balance sheet management, the bank sold more of its long-term residential mortgage production. Income from gains on loans sold ended $439,000 higher for 2015 versus 2014. During the fourth quarter of 2015 the bank began to offer loan level derivative contracts to manage commercial loan interest rate risk. This activity generated $260,000 in loan related derivative income for the quarter.

Total assets at year-end 2015 were $1.7 billion versus $1.6 billion year-end 2014.

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Thursday, January 28th, 2016 EN No Comments

Bush Wealth Management offering $1000 scholarship


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2015 Bush Wealth Scholarship winner, Kameron Watson, and family.

VALDOSTA – Scholarship season is officially upon us. In an effort to educate our younger generations, Bush Wealth Management is offering a scholarship of  $1,000 to an upcoming collegiate bound student. Bush plans to select a recipient who possesses a desire to invest in understanding their financial future. If you have a child or grandchild, nephew or niece planning to enroll in college in 2016, please feel free to share this information with them.

The deadline to apply is May 1st, 2016.

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Thursday, January 28th, 2016 EN No Comments

PowerShares QQQ Trust Series 1 – Get News & Ratings Daily

Cabot Wealth Management raised its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The hedge fund owned 10,602 shares of the company’s stock after buying an additional 368 shares during the period. Cabot Wealth Management’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,186,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of QQQ. J. Goldman Company acquired a new stake in shares of PowerShares QQQ Trust, Series 1 during the third quarter worth about $7,632,000. Toth Financial increased its stake in PowerShares QQQ Trust, Series 1 by 19.9% in the fourth quarter. Toth Financial now owns 4,278 shares of the company’s stock worth $478,000 after buying an additional 711 shares during the last quarter. EQIS Capital Management increased its stake in PowerShares QQQ Trust, Series 1 by 450.8% in the fourth quarter. EQIS Capital Management now owns 13,969 shares of the company’s stock worth $1,563,000 after buying an additional 11,433 shares during the last quarter. Merriman Wealth Management purchased a new stake in PowerShares QQQ Trust, Series 1 during the fourth quarter worth $4,117,000. Finally, Blue Fin Capital increased its stake in PowerShares QQQ Trust, Series 1 by 7.4% in the fourth quarter. Blue Fin Capital now owns 5,207 shares of the company’s stock worth $582,000 after buying an additional 358 shares during the last quarter.

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded down 0.55% during mid-day trading on Wednesday, reaching $102.58. The company had a trading volume of 17,461,726 shares. PowerShares QQQ Trust, Series 1 has a 1-year low of $84.74 and a 1-year high of $115.75. The firm has a 50-day moving average of $108.37 and a 200 day moving average of $108.97.

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index. Invesco PowerShares Capital Management, LLC is the Sponsor of the Trust and The Bank of New York Mellon is the Trustee.

This story was originally published by EMQ (http://www.emqtv.com) and is the sole property of EMQ. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.emqtv.com/powershares-qqq-trust-series-1-qqq-shares-bought-by-cabot-wealth-management/166921/

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Wednesday, January 27th, 2016 EN No Comments

Simon Property Group Inc – Get News & Ratings Daily

Cabot Wealth Management held its stake in Simon Property Group Inc (NYSE:SPG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The hedge fund owned 2,612 shares of the real estate investment trust’s stock at the end of the fourth quarter. Cabot Wealth Management’s holdings in Simon Property Group were worth $508,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SPG. West Oak Capital boosted its position in Simon Property Group by 1.5% in the fourth quarter. West Oak Capital now owns 1,315 shares of the real estate investment trust’s stock valued at $255,689 after buying an additional 20 shares during the period. Daiwa SB Investments acquired a new position in Simon Property Group during the fourth quarter valued at about $261,000. MUFG Americas boosted its position in Simon Property Group by 4.4% in the third quarter. MUFG Americas now owns 3,001 shares of the real estate investment trust’s stock valued at $552,000 after buying an additional 127 shares during the period. First American Trust boosted its position in Simon Property Group by 1.7% in the fourth quarter. First American Trust now owns 8,857 shares of the real estate investment trust’s stock valued at $1,722,000 after buying an additional 150 shares during the period. Finally, Pensionfund Sabic boosted its position in Simon Property Group by 3.8% in the fourth quarter. Pensionfund Sabic now owns 24,606 shares of the real estate investment trust’s stock valued at $4,784,000 after buying an additional 900 shares during the period.

Simon Property Group Inc (NYSE:SPG) traded down 1.43% on Wednesday, reaching $187.42. The company’s stock had a trading volume of 711,631 shares. The firm’s 50 day moving average price is $189.41 and its 200-day moving average price is $189.01. Simon Property Group Inc has a 1-year low of $170.99 and a 1-year high of $208.14. The company has a market capitalization of $57.99 billion and a price-to-earnings ratio of 31.67.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $2.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.47 by $0.07. The firm earned $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company posted $1.90 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that Simon Property Group Inc will post $9.88 earnings per share for the current year.

Several equities research analysts recently weighed in on SPG shares. Cowen and Company upped their price target on Simon Property Group from $212.00 to $254.00 in a research note on Wednesday, October 14th. Morgan Stanley upped their price target on Simon Property Group from $217.00 to $220.00 in a research note on Friday, October 16th. Barclays upped their price target on Simon Property Group from $216.00 to $233.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Jefferies Group reduced their price target on Simon Property Group to $233.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $220.00 price target (up from $210.00) on shares of Simon Property Group in a research note on Wednesday, October 28th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $222.68.

In other news, Director Allan B. Hubbard purchased 145 shares of Simon Property Group stock in a transaction that occurred on Tuesday, December 22nd. The stock was acquired at an average price of $192.70 per share, for a total transaction of $27,941.50. Following the transaction, the director now owns 8,673 shares in the company, valued at $1,671,287.10. The purchase was disclosed in a filing with the Securities Exchange Commission, which is available at this hyperlink.

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (NYSE:SPG). Simon Property Group, L.P. (Operating Partnership), is the Company’s majority-owned partnership subsidiary that owns all of its real estate properties and other assets. The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. As of December 31, 2014, the Company owned or held an interest in 207 properties in the United States, which consisted of 109 malls, 68 Premium Outlets, 13 Mills, three community centers, and 14 other retail properties in 37 states and Puerto Rico. As of December 31, 2014, the Company had ownership interests in nine Premium Outlets in Japan, three Premium Outlets in South Korea, two Premium Outlets in Canada, one Premium Outlet in Mexico and one Premium Outlet in Malaysia. As of December 31, 2014, the Company had non-controlling ownership interests in five outlet properties in Europe.

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Wednesday, January 27th, 2016 EN No Comments

Plum Creek Timber Co. Inc. – Get News & Ratings Daily

Cabot Wealth Management continued to hold its position in Plum Creek Timber Co. Inc. (NYSE:PCL) during the fourth quarter, according to its most recent filing with the SEC. The hedge fund owned 7,500 shares of the company’s stock at the end of the fourth quarter. Cabot Wealth Management’s holdings in Plum Creek Timber Co. were worth $358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Janus Capital Management increased its position in Plum Creek Timber Co. by 14.2% in the third quarter. Janus Capital Management now owns 64,674 shares of the company’s stock valued at $2,555,000 after buying an additional 8,029 shares in the last quarter. First National Bank of Mount Dora purchased a new stake in Plum Creek Timber Co. during the fourth quarter worth $202,000. Curbstone Financial Management increased its stake in Plum Creek Timber Co. by 105.8% in the fourth quarter. Curbstone Financial Management now owns 76,300 shares of the company’s stock worth $3,641,000 after buying an additional 39,225 shares in the last quarter. Chicago Trust Company increased its stake in Plum Creek Timber Co. by 21.4% in the fourth quarter. Chicago Trust Company now owns 20,862 shares of the company’s stock worth $995,000 after buying an additional 3,672 shares in the last quarter. Finally, Nisa Investment Advisors increased its stake in Plum Creek Timber Co. by 42.9% in the fourth quarter. Nisa Investment Advisors now owns 39,992 shares of the company’s stock worth $1,908,000 after buying an additional 12,000 shares in the last quarter.

Shares of Plum Creek Timber Co. Inc. (NYSE:PCL) traded up 0.30% during mid-day trading on Wednesday, hitting $39.54. 385,958 shares of the stock traded hands. Plum Creek Timber Co. Inc. has a 52 week low of $36.95 and a 52 week high of $51.63. The stock has a market cap of $6.86 billion and a price-to-earnings ratio of 30.02. The firm’s 50-day moving average is $45.47 and its 200-day moving average is $42.82.

Plum Creek Timber Co. (NYSE:PCL) last released its earnings results on Monday, October 26th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.51 by $0.07. The business had revenue of $414 million for the quarter, compared to analyst estimates of $375 million. On average, analysts forecast that Plum Creek Timber Co. Inc. will post $1.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 30th. Investors of record on Friday, November 13th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.46%.

A number of analysts have weighed in on the stock. JPMorgan Chase Co. downgraded shares of Plum Creek Timber Co. from an “overweight” rating to a “neutral” rating and set a $46.00 target price for the company. in a research report on Tuesday, November 10th. Zacks Investment Research raised shares of Plum Creek Timber Co. from a “sell” rating to a “hold” rating in a research report on Monday, January 4th. RBC Capital raised shares of Plum Creek Timber Co. from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $42.00 to $56.00 in a research report on Tuesday, November 17th. Citigroup Inc. decreased their target price on shares of Plum Creek Timber Co. from $58.00 to $53.00 in a research report on Wednesday, January 13th. Finally, Bank of America downgraded shares of Plum Creek Timber Co. from a “neutral” rating to an “underperform” rating and set a $41.00 target price for the company. in a research report on Friday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $47.14.

In related news, SVP Larry D. Neilson sold 58,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 29th. The shares were sold at an average price of $48.97, for a total value of $2,840,260.00. Following the completion of the sale, the senior vice president now owns 45,742 shares in the company, valued at approximately $2,239,985.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO David A. Brown sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $46.93, for a total transaction of $1,032,460.00. Following the completion of the sale, the chief accounting officer now owns 36,731 shares of the company’s stock, valued at approximately $1,723,785.83. The disclosure for this sale can be found here.

Plum Creek Timber Company, Inc. (NYSE:PCL) is a private timberland owner in the United States. The Company operates through segments, including Northern Resources segment consists of timberlands in Maine, Michigan, Montana, New Hampshire, Oregon, Vermont, Washington, West Virginia and Wisconsin; Southern Resources segment consists of timberlands in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Texas, and Virginia; Energy and Natural Resources segment includes natural resource businesses that focus on opportunities for oil and natural gas production, construction aggregates and mineral extraction, wind power and communication and transportation rights of way; Real Estate segment consists of sales of higher value timberlands and non-strategic timberlands, and Other segment provides timber and wood-fiber procurement services. It owns approximately 6.6 million acres of timberlands located in over 19 states.

This story was originally published by Corvus Business Newswire (http://corvuswire.com) and is the sole property of Corvus Business Newswire. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://corvuswire.com/2016/01/27/cabot-wealth-management-maintains-stake-in-plum-creek-timber-co-inc-pcl/777888/

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Wednesday, January 27th, 2016 EN No Comments

Eagle Capital Management Increases Position in Under Armour Inc (UA)

Eagle Capital Management boosted its stake in shares of Under Armour Inc (NYSE:UA) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The hedge fund owned 27,902 shares of the apparel retailer’s stock after buying an additional 404 shares during the period. Under Armour accounts for approximately 2.2% of Eagle Capital Management’s investment portfolio, making the stock its 21st largest position. Eagle Capital Management’s holdings in Under Armour were worth $2,249,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Eagle Asset Management increased its position in Under Armour by 134.0% in the third quarter. Eagle Asset Management now owns 484,012 shares of the apparel retailer’s stock worth $46,842,000 after buying an additional 277,192 shares during the period. Taylor Wealth Management Partners increased its position in Under Armour by 2.7% in the fourth quarter. Taylor Wealth Management Partners now owns 92,089 shares of the apparel retailer’s stock worth $7,423,000 after buying an additional 2,448 shares during the period. Cabot Wealth Management increased its position in Under Armour by 136.3% in the fourth quarter. Cabot Wealth Management now owns 43,912 shares of the apparel retailer’s stock worth $3,540,000 after buying an additional 25,327 shares during the period. Private Asset Management increased its position in Under Armour by 6.2% in the fourth quarter. Private Asset Management now owns 42,315 shares of the apparel retailer’s stock worth $3,411,000 after buying an additional 2,485 shares during the period. Finally, KSA Capital Management bought a new position in Under Armour during the third quarter worth about $3,871,000.

Under Armour Inc (NYSE:UA) traded down 0.41% during trading on Tuesday, reaching $67.88. 2,315,858 shares of the company were exchanged. The company’s 50-day moving average price is $78.04 and its 200-day moving average price is $91.26. The stock has a market capitalization of $14.65 billion and a P/E ratio of 69.41. Under Armour Inc has a 1-year low of $63.23 and a 1-year high of $105.89.

A number of brokerages have recently weighed in on UA. Sterne Agee CRT restated a “buy” rating and issued a $128.00 target price on shares of Under Armour in a research note on Monday, January 11th. Brean Capital began coverage on Under Armour in a research note on Friday, October 16th. They issued a “buy” rating and a $117.00 target price on the stock. Zacks Investment Research downgraded Under Armour from a “hold” rating to a “sell” rating in a research note on Wednesday, October 14th. Susquehanna cut their target price on Under Armour from $92.00 to $86.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 22nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $130.00 target price (up previously from $105.00) on shares of Under Armour in a research note on Wednesday, October 14th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $102.00.

In other Under Armour news, EVP Adam Peake sold 12,000 shares of Under Armour stock in a transaction on Friday, November 20th. The shares were sold at an average price of $92.09, for a total value of $1,105,080.00. Following the completion of the transaction, the executive vice president now directly owns 75,580 shares of the company’s stock, valued at approximately $6,960,162.20. The sale was disclosed in a filing with the Securities Exchange Commission, which is accessible through this link. Also, CRO Karl-Heinz Maurath sold 53,420 shares of Under Armour stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $92.29, for a total transaction of $4,930,131.80. Following the completion of the transaction, the executive now directly owns 61,838 shares of the company’s stock, valued at $5,707,029.02. The disclosure for this sale can be found here.

Under Armour, Inc. is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s moisture-wicking fabrications are engineered in a range of designs and styles for wear in nearly every climate to provide an alternative to traditional products. The Company’s operating segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (NYSE:UA); Asia-Pacific; Latin America, and MapMyFitness. The Company also offers digital fitness platform licenses and subscriptions, along with digital advertising through its MapMyFitness business. Its apparel offers three gearlines, including HEATGEAR, COLDGEAR and ALLSEASONGEAR. Its footwear offerings include football, baseball, lacrosse, softball and soccer cleats, slides and performance training, running, basketball and outdoor footwear. Its accessories primarily include the sale of headwear, bags and gloves.

This story was originally published by EMQ (http://www.emqtv.com) and is the sole property of EMQ. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.emqtv.com/eagle-capital-management-increases-position-in-under-armour-inc-ua/163156/

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Tuesday, January 26th, 2016 EN No Comments

Microsoft Co. (MSFT) Position Reduced by Benin Management

Benin Management cut its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 10.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,752 shares of the software giant’s stock after selling 9,301 shares during the period. Microsoft makes up approximately 2.4% of Benin Management’s portfolio, making the stock its 12th largest position. Benin Management’s holdings in Microsoft were worth $4,314,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MSFT. Taylor Wealth Management Partners increased its stake in Microsoft by 76.2% in the fourth quarter. Taylor Wealth Management Partners now owns 650 shares of the software giant’s stock valued at $36,000 after buying an additional 281 shares during the last quarter. Creative Planning increased its stake in Microsoft by 66.7% in the fourth quarter. Creative Planning now owns 2,500 shares of the software giant’s stock valued at $0 after buying an additional 1,000 shares during the last quarter. Baystate Wealth Management bought a new stake in shares of Microsoft during the fourth quarter valued at $256,000. Exchange Capital Management increased its stake in shares of Microsoft by 6.1% in the fourth quarter. Exchange Capital Management now owns 4,783 shares of the software giant’s stock valued at $265,000 after buying an additional 275 shares in the last quarter. Finally, Kistler-Tiffany Companies increased its stake in shares of Microsoft by 1.6% in the fourth quarter. Kistler-Tiffany Companies now owns 7,309 shares of the software giant’s stock valued at $405,000 after buying an additional 112 shares in the last quarter.

Shares of Microsoft Co. (NASDAQ:MSFT) traded up 1.02% during mid-day trading on Tuesday, hitting $52.32. The stock had a trading volume of 13,743,512 shares. The firm’s 50-day moving average price is $54.04 and its 200 day moving average price is $49.35. Microsoft Co. has a 12-month low of $39.72 and a 12-month high of $56.85. The stock has a market cap of $417.93 billion and a price-to-earnings ratio of 34.79.


The company also recently declared a quarterly dividend, which will be paid on Thursday, March 10th. Shareholders of record on Thursday, February 18th will be issued a $0.36 dividend. The ex-dividend date is Tuesday, February 16th. This represents a $1.44 annualized dividend and a yield of 2.78%.

Several equities research analysts recently weighed in on MSFT shares. Credit Agricole increased their price target on Microsoft to $60.00 in a report on Wednesday, November 11th. Pacific Crest increased their price target on Microsoft from $55.00 to $65.00 in a report on Monday, November 23rd. Sanford C. Bernstein reaffirmed a “buy” rating and set a $56.00 price target on shares of Microsoft in a report on Tuesday, September 29th. Deutsche Bank reaffirmed a “buy” rating and set a $55.00 price target on shares of Microsoft in a report on Monday, October 12th. Finally, FBR Co. reaffirmed a “buy” rating on shares of Microsoft in a report on Sunday, October 18th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $56.18.

In other Microsoft news, insider G Mason Morfit sold 18,650,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $53.53, for a total value of $998,334,500.00. The transaction was disclosed in a legal filing with the Securities Exchange Commission, which is available at the SEC website. Also, CMO Christopher C. Capossela sold 29,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $53.59, for a total value of $1,554,110.00. Following the completion of the transaction, the chief marketing officer now directly owns 300,809 shares of the company’s stock, valued at approximately $16,120,354.31. The disclosure for this sale can be found here.

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 (NASDAQ:MSFT) Licensing, DC Hardware, DC 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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Tuesday, January 26th, 2016 EN No Comments

BofA Cuts Pound View as Deutsche AM Sees Sword of Damocles

The specter of a potential exit from the European Union is disrupting analysts’ view of the pound’s future.

The vote is a “sword of Damocles” hanging over the pound and deterring investors, according to the chief currency strategist at Deutsche Asset Wealth Management Investment GmbH, which oversees about $1.3 trillion. Even Bank of America Merrill Lynch, which says the risks of an EU exit are exaggerated, notes the currency has already started to price in a “Brexit” premium, and is likely to break through $1.40 against the dollar.

“I don’t see any willingness by short- or medium-term investors to touch sterling for the time being,” Deutsche Asset Wealth Management’s Dirk Aufderheide said from Frankfurt. The impact of a “Brexit risk” will persist for at least “another couple of months,” he said.

The two companies are the latest to warn about the perils of Britain quitting the EU, the world’s biggest single market. Sterling has weakened against 11 of its 16 major peers in 2016, touching an almost seven-year low versus the dollar last week, amid speculation a planned referendum on the U.K.’s future may be held as soon as June. The currency has also been hurt by a deteriorating global economy, near-zero domestic inflation and the waning prospect of an interest-rate increase by the Bank of England, which would be its first since 2007.

Sterling’s Rally

The pound rallied on Tuesday, paring its recent losses. It jumped 0.7 percent to $1.4341 as of 4:40 p.m. London time, its biggest gain of the year. That still leaves it down almost 3 percent since the start of 2016 after it slid to $1.4080 on Jan. 21, the lowest since March 2009.

While there’s “some scope for recovery” in the next few days as the pound approaches technical resistance levels, the general course will be downward, Deutsche Asset Wealth Management’s Aufderheide said. “There’s hardly any incentive to touch this falling knife.”

Sterling also advanced against Europe’s shared currency Tuesday, climbing 0.6 percent to 75.68 pence per euro. It touched a one-year low of 77.56 pence on Jan. 20.

“We have revised down our near-term GBP forecast profile on the assumption that the referendum is increasingly likely to be held this year,” Bank of America analysts led by Kamal Sharma, a senior G-10 currency strategist, wrote in a note on Tuesday. “GBP/USD is likely to break below long-term support at 1.40 whilst EUR/GBP is likely to head back towards 0.80.”

Even so, the chances of Britain quitting the EU are exaggerated, according to the analysts, who argued that opinion polls are underestimating support for an “in” vote.

“The removal of Brexit uncertainty should see a meaningful rebound in GBP sentiment,” the Bank of America analysts wrote.

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Tuesday, January 26th, 2016 EN No Comments

Timely New Article by "Pillar Wealth Management" Reveals Ultra-High Net Worth Portfolio Protection Strategies in a …

/EINPresswire.com/ —
Pillar Wealth Management, LLC, a private wealth management firm to affluent families — including some who reached a net worth of $400 million — announced today that it has published a timely and topical new article titled: “Ultra-High Net Worth Portfolio Protection Strategies in a Horrible Market.”

Pillar Wealth Management’s new article, which is written by the firm’s co-founders Haitham “Hutch” Ashoo and Christopher Snyder, points out that the severe market volatility which has ushered in 2016 both within the US and globally may be the “new normal,” and may not abate anytime soon. As such, it is even more important for ultra-high net worth investors to implement strategies that make the road ahead straightforward and more predictable, rather than stressful and risky. 

To that end, Ashoo and Snyder discuss two types of asset allocation — one dubbed “relationship-based,” and the other “risk-based.” The former involves analyzing historical corelationships between different asset classes, with the goal of maximizing return and minimize risk. The latter involves spreading risk among various asset classes to increase predictability. Both strategies are explored further in the article, as are discussions on:

  • How asset allocation is not the same thing as diversification.
  • The importance of implementing a unifying investment approach that aligns portfolios with asset allocation.

Additional insights and strategies are also available in Ashoo and Snyder’s new book The Art Of Protecting Ultra-High Net Worth Portfolios And Estates, Strategies For Families Worth $25 Million to $500 Million,” which is available at Amazon.com. Professional advisors, such as estate planning attorneys, CPAs, MAs, real estate and other professionals, who work with ultra-high net worth families are encouraged to gain insights from the book. 

“Nobody has a crystal ball, and that is precisely why asset allocation remains such a smart, proven and, frankly, essential structuring strategy — especially during horrible markets like the kind we are seeing today,” commented Ashoo. “While our new article is definitely a good starting point, to do the topic justice, we highly recommend a full read of the multitude of strategies in our book.”

The full text of Pillar Wealth Management’s new article “Ultra-High Net Worth Portfolio Protection Strategies in a Horrible Market” is available at http://pillarwm.com/ultra-high-net-worth-portfolio-protection-strategies-in-a-horrible-market.

For all other inquiries contact the firm at Tamara@Pillarwm.com.

About Pillar Wealth Management, LLC

Haitham “Hutch” Ashoo and Christopher Snyder are privileged to have worked with ultra-high net worth families, some of whom attained wealth reaching $400 million, helping them achieve a positive change in their lives and finances. They cofounded Pillar Wealth Management, LLC, an independent, fee based, private wealth management firm. As their clients’ go-to advisors, they are brought in to help with investment management, strategic planning, asset allocation, risk control, and tracking of their clients’ progress towards life-goals. Their services are provided to a limited number of clients. They only accept a new client when they have determined that there is mutual admiration and respect and only if they can add substantial value to the client’s financial life. Learn more at http://pillarwm.com

Contact:

Hutch Ashoo
925-407-0320

tamara@pillarwm.com

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Monday, January 25th, 2016 EN No Comments

Dubai’s biggest bank appoints new chief investment officer

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Emirates NBD, Dubai’s biggest bank, announced the appointment of former JPMorgan senior executive Gary Dugan as chief investment officer – wealth management.

Dugan returns to Emirates NBD having served as CIO between 2009 and 2012 and has also held CIO roles at Barclays and Merrill Lynch in London, Coutts in Singapore and most recently at National Bank of Abu Dhabi.

For eleven years he worked for JPMorgan in London where he was a managing director and was recently named leading GCC private banker by GCC Wealth Briefing.

Dugan will be responsible for leading the CIO office within Emirates NBD Wealth Management, providing guidance to Emirates NBD’s private banking and retail clientele.

Commenting on the appointment, Suvo Sarkar, senior EVP group head – Retail Banking Wealth Management, Emirates NBD said: “We are delighted to welcome Gary back to Emirates NBD. His impeccable track record, global outlook on investments covering all asset classes and regional experience make him an extremely valuable asset to the bank.

“We look forward to gaining from his expertise in investment strategies as we accelerate our wealth management offering across the Middle East and North Africa (MENA) region and to key international markets.”

Dugan added: “I very much look forward to taking up the reins again to work with the team to deliver the most accurate and honest advice about how to circumnavigate the current challenging global markets.”

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Monday, January 25th, 2016 EN No Comments