Microsoft Co. (NASDAQ:MSFT) is Hemenway Trust Co LLC’s 2nd Largest Position

Hemenway Trust Co LLC trimmed its holdings in Microsoft Co. (NASDAQ:MSFT) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,117 shares of the software giant’s stock after selling 309 shares during the quarter. Microsoft accounts for approximately 5.1% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 2nd biggest holding. Hemenway Trust Co LLC’s holdings in Microsoft were worth $59,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MSFT. Wellington Shields Capital Management LLC lifted its stake in shares of Microsoft by 1.5% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 111,433 shares of the software giant’s stock valued at $49,805,000 after purchasing an additional 1,628 shares during the period. Farmers & Merchants Investments Inc. increased its position in shares of Microsoft by 0.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 269,618 shares of the software giant’s stock valued at $120,506,000 after buying an additional 947 shares in the last quarter. Synergy Asset Management LLC raised its position in Microsoft by 21.5% during the second quarter. Synergy Asset Management LLC now owns 112,620 shares of the software giant’s stock worth $50,336,000 after acquiring an additional 19,947 shares during the period. Jeppson Wealth Management LLC lifted its stake in Microsoft by 1.2% in the 2nd quarter. Jeppson Wealth Management LLC now owns 14,074 shares of the software giant’s stock valued at $6,290,000 after buying an additional 166 shares in the last quarter. Finally, Slocum Gordon & Co LLP lifted its position in shares of Microsoft by 1.1% in the second quarter. Slocum Gordon & Co LLP now owns 4,259 shares of the software giant’s stock valued at $1,904,000 after acquiring an additional 45 shares in the last quarter. 71.13% of the stock is owned by institutional investors and hedge funds.

Microsoft Price Performance

Shares of NASDAQ:MSFT opened at $418.16 on Monday. Microsoft Co. has a 52 week low of $324.39 and a 52 week high of $468.35. The company has a 50-day moving average price of $419.66 and a 200 day moving average price of $424.54. The company has a market cap of $3.11 trillion, a P/E ratio of 36.20, a PEG ratio of 2.22 and a beta of 0.90. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.16.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 EPS for the quarter, beating the consensus estimate of $2.90 by $0.05. Microsoft had a return on equity of 35.95% and a net margin of 35.96%. The business had revenue of $64.73 billion during the quarter, compared to analysts’ expectations of $64.38 billion. During the same period last year, the firm earned $2.69 EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Research analysts predict that Microsoft Co. will post 13.02 earnings per share for the current year.

Microsoft announced that its board has approved a stock repurchase plan on Monday, September 16th that allows the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization allows the software giant to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Microsoft Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.83 per share. The ex-dividend date is Thursday, November 21st. This is a boost from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.79%. Microsoft’s dividend payout ratio is 28.74%.

Insider Transactions at Microsoft

In other Microsoft news, CMO Takeshi Numoto sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total transaction of $1,027,600.00. Following the transaction, the chief marketing officer now directly owns 50,000 shares in the company, valued at approximately $20,552,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Satya Nadella sold 78,353 shares of Microsoft stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the completion of the transaction, the chief executive officer now owns 864,327 shares of the company’s stock, valued at $353,189,942.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Takeshi Numoto sold 2,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $411.04, for a total transaction of $1,027,600.00. Following the completion of the sale, the chief marketing officer now directly owns 50,000 shares in the company, valued at approximately $20,552,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 190,629 shares of company stock valued at $77,916,485 in the last ninety days. 0.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group lowered their target price on shares of Microsoft from $520.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group dropped their price objective on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Bank of America raised their target price on shares of Microsoft from $480.00 to $510.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Argus upped their price target on Microsoft from $475.00 to $526.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $506.00 price objective on shares of Microsoft in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and a consensus target price of $495.68.

Microsoft Profile

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.