Microsoft Co. (NASDAQ:MSFT) Shares Sold by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co trimmed its position in shares of Microsoft Co. (NASDAQ:MSFT) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,178 shares of the software giant’s stock after selling 618 shares during the period. Microsoft makes up about 1.8% of Indiana Trust & Investment Management Co’s holdings, making the stock its 11th biggest holding. Indiana Trust & Investment Management Co’s holdings in Microsoft were worth $5,240,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MSFT. Rebalance LLC increased its stake in Microsoft by 0.7% in the 2nd quarter. Rebalance LLC now owns 3,451 shares of the software giant’s stock worth $1,542,000 after purchasing an additional 24 shares in the last quarter. First National Bank Sioux Falls increased its position in shares of Microsoft by 0.4% in the second quarter. First National Bank Sioux Falls now owns 6,340 shares of the software giant’s stock worth $2,834,000 after acquiring an additional 24 shares in the last quarter. Doheny Asset Management CA raised its holdings in shares of Microsoft by 0.4% during the first quarter. Doheny Asset Management CA now owns 6,397 shares of the software giant’s stock valued at $2,691,000 after acquiring an additional 25 shares during the period. Flagship Private Wealth LLC lifted its position in shares of Microsoft by 2.8% in the 2nd quarter. Flagship Private Wealth LLC now owns 913 shares of the software giant’s stock valued at $408,000 after acquiring an additional 25 shares in the last quarter. Finally, Massachusetts Wealth Management boosted its stake in Microsoft by 0.3% in the 2nd quarter. Massachusetts Wealth Management now owns 9,640 shares of the software giant’s stock worth $4,309,000 after purchasing an additional 25 shares during the period. 71.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microsoft

In other news, insider Bradford L. Smith sold 40,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $402.59, for a total transaction of $16,103,600.00. Following the completion of the transaction, the insider now owns 544,847 shares of the company’s stock, valued at approximately $219,349,953.73. This represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kathleen T. Hogan sold 17,378 shares of Microsoft stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $411.85, for a total value of $7,157,129.30. Following the sale, the executive vice president now directly owns 150,161 shares in the company, valued at approximately $61,843,807.85. This trade represents a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,578 shares of company stock valued at $40,553,696 in the last ninety days. Company insiders own 0.03% of the company’s stock.

Microsoft Stock Up 1.2 %

MSFT stock opened at $442.62 on Friday. The stock has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 36.52, a price-to-earnings-growth ratio of 2.29 and a beta of 0.90. The company has a 50-day moving average of $421.16 and a two-hundred day moving average of $426.89. Microsoft Co. has a 52-week low of $364.13 and a 52-week high of $468.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.30 and a quick ratio of 1.29.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.20. The firm had revenue of $65.59 billion during the quarter, compared to the consensus estimate of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.99 EPS. As a group, equities research analysts anticipate that Microsoft Co. will post 12.93 EPS for the current year.

Microsoft declared that its Board of Directors has approved a stock repurchase program on Monday, September 16th that permits the company to repurchase $60.00 billion in shares. This repurchase authorization permits the software giant to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Microsoft Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, February 20th. Microsoft’s payout ratio is currently 27.39%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group cut their target price on shares of Microsoft from $510.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley increased their price objective on Microsoft from $506.00 to $548.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their target price on Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. TD Cowen reduced their price target on shares of Microsoft from $495.00 to $475.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company restated a “buy” rating on shares of Microsoft in a report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $504.36.

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.