Bangor Savings Bank Purchases 138 Shares of Microsoft Co. (NASDAQ:MSFT)

Bangor Savings Bank raised its position in Microsoft Co. (NASDAQ:MSFT) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,407 shares of the software giant’s stock after buying an additional 138 shares during the quarter. Microsoft comprises about 0.8% of Bangor Savings Bank’s portfolio, making the stock its 21st largest position. Bangor Savings Bank’s holdings in Microsoft were worth $8,351,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc grew its holdings in shares of Microsoft by 169.2% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock valued at $31,000 after purchasing an additional 44 shares during the last quarter. Quarry LP bought a new stake in shares of Microsoft during the 2nd quarter valued at approximately $45,000. Innealta Capital LLC bought a new stake in shares of Microsoft during the 2nd quarter valued at approximately $75,000. Bellevue Group AG grew its holdings in shares of Microsoft by 47.5% during the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock valued at $76,000 after purchasing an additional 58 shares during the last quarter. Finally, Bbjs Financial Advisors LLC grew its holdings in shares of Microsoft by 241.4% during the 2nd quarter. Bbjs Financial Advisors LLC now owns 379 shares of the software giant’s stock valued at $169,000 after purchasing an additional 268 shares during the last quarter. 71.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MSFT has been the topic of several research reports. Oppenheimer lowered shares of Microsoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 8th. The Goldman Sachs Group reduced their target price on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. KeyCorp boosted their target price on shares of Microsoft from $490.00 to $505.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and set a $500.00 target price on shares of Microsoft in a report on Tuesday, November 5th. Finally, DA Davidson lowered shares of Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 target price on the stock. in a report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $503.03.

Microsoft Stock Performance

Shares of MSFT stock opened at $417.00 on Friday. The firm has a market capitalization of $3.10 trillion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 2.21 and a beta of 0.91. The firm has a fifty day simple moving average of $421.94 and a two-hundred day simple moving average of $426.07. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15. Microsoft Co. has a 12 month low of $362.90 and a 12 month high of $468.35.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.20. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The firm had revenue of $65.59 billion during the quarter, compared to analyst estimates of $64.57 billion. During the same quarter in the prior year, the business posted $2.99 EPS. The business’s revenue was up 16.0% compared to the same quarter last year. Analysts forecast that Microsoft Co. will post 12.94 EPS for the current fiscal year.

Microsoft Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.83 dividend. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, November 21st. This represents a $3.32 annualized dividend and a dividend yield of 0.80%. Microsoft’s dividend payout ratio is presently 24.75%.

Microsoft declared that its board has authorized a stock buyback plan on Monday, September 16th that authorizes the company to buyback $60.00 billion in shares. This buyback authorization authorizes the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Microsoft

In related news, EVP Christopher David Young sold 7,200 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $423.66, for a total transaction of $3,050,352.00. Following the completion of the transaction, the executive vice president now owns 103,366 shares in the company, valued at approximately $43,792,039.56. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Satya Nadella sold 78,353 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $408.63, for a total transaction of $32,017,386.39. Following the transaction, the chief executive officer now owns 864,327 shares of the company’s stock, valued at approximately $353,189,942.01. The trade was a 8.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 183,431 shares of company stock worth $74,956,968. 0.03% of the stock is owned by company insiders.

Microsoft Company 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.