Orrstown Financial Services Inc. Cuts Holdings in Microsoft Co. (NASDAQ:MSFT)

Orrstown Financial Services Inc. trimmed its position in Microsoft Co. (NASDAQ:MSFT) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,640 shares of the software giant’s stock after selling 275 shares during the period. Microsoft makes up approximately 1.8% of Orrstown Financial Services Inc.’s investment portfolio, making the stock its 8th largest holding. Orrstown Financial Services Inc.’s holdings in Microsoft were worth $3,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MSFT. Financial Security Advisor Inc. lifted its stake in Microsoft by 1.7% in the fourth quarter. Financial Security Advisor Inc. now owns 27,270 shares of the software giant’s stock valued at $10,255,000 after acquiring an additional 452 shares during the last quarter. Gunderson Capital Management Inc. raised its stake in Microsoft by 0.7% in the fourth quarter. Gunderson Capital Management Inc. now owns 24,887 shares of the software giant’s stock valued at $9,359,000 after buying an additional 185 shares during the period. Rappaport Reiches Capital Management LLC lifted its position in shares of Microsoft by 14.9% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 8,213 shares of the software giant’s stock valued at $3,089,000 after buying an additional 1,067 shares during the last quarter. Bayesian Capital Management LP boosted its stake in shares of Microsoft by 60.1% during the 4th quarter. Bayesian Capital Management LP now owns 48,500 shares of the software giant’s stock worth $18,238,000 after acquiring an additional 18,200 shares during the period. Finally, RNC Capital Management LLC increased its holdings in shares of Microsoft by 10.4% during the 4th quarter. RNC Capital Management LLC now owns 69,053 shares of the software giant’s stock worth $25,967,000 after acquiring an additional 6,484 shares during the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.

Microsoft Stock Down 0.5 %

Shares of MSFT opened at $446.34 on Thursday. Microsoft Co. has a 52 week low of $309.45 and a 52 week high of $450.94. The stock has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.24. The stock has a fifty day moving average of $419.05 and a 200-day moving average of $406.10.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Thursday, April 25th. The software giant reported $2.94 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. Microsoft had a return on equity of 37.54% and a net margin of 36.43%. The company had revenue of $61.86 billion during the quarter, compared to analysts’ expectations of $60.86 billion. During the same period in the prior year, the company earned $2.45 EPS. Microsoft’s revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Microsoft Co. will post 11.77 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 15th will be issued a $0.75 dividend. The ex-dividend date is Thursday, August 15th. This represents a $3.00 dividend on an annualized basis and a yield of 0.67%. Microsoft’s payout ratio is 25.97%.

Insider Activity at Microsoft

In related news, EVP Judson Althoff sold 25,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $425.68, for a total value of $10,642,000.00. Following the completion of the sale, the executive vice president now directly owns 104,949 shares in the company, valued at $44,674,690.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Judson Althoff sold 25,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $425.68, for a total value of $10,642,000.00. Following the completion of the sale, the executive vice president now directly owns 104,949 shares in the company, valued at $44,674,690.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Takeshi Numoto sold 244 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $415.53, for a total value of $101,389.32. Following the completion of the sale, the chief marketing officer now owns 47,011 shares of the company’s stock, valued at $19,534,480.83. The disclosure for this sale can be found here. Insiders sold 25,566 shares of company stock worth $10,877,535 over the last three months. Company insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MSFT shares. KeyCorp assumed coverage on Microsoft in a report on Thursday, March 21st. They set an “overweight” rating and a $490.00 price target for the company. Tigress Financial lifted their target price on shares of Microsoft from $475.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Wedbush reissued an “outperform” rating and issued a $500.00 price target on shares of Microsoft in a report on Wednesday, May 22nd. Wells Fargo & Company boosted their price objective on Microsoft from $480.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. upped their target price on Microsoft from $440.00 to $470.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $465.83.

About Microsoft

Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.