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

Orrstown Financial Services Inc. boosted its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 130.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,116 shares of the software giant’s stock after buying an additional 9,682 shares during the period. Microsoft makes up about 2.2% of Orrstown Financial Services Inc.’s investment portfolio, making the stock its 9th largest holding. Orrstown Financial Services Inc.’s holdings in Microsoft were worth $7,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Autumn Glory Partners LLC increased its stake in Microsoft by 6.8% during the 3rd quarter. Autumn Glory Partners LLC now owns 19,760 shares of the software giant’s stock valued at $8,509,000 after purchasing an additional 1,257 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Microsoft by 1.6% during the third quarter. Nisa Investment Advisors LLC now owns 2,255,624 shares of the software giant’s stock valued at $970,595,000 after acquiring an additional 34,440 shares in the last quarter. Morton Brown Family Wealth LLC increased its position in shares of Microsoft by 20.6% during the third quarter. Morton Brown Family Wealth LLC now owns 2,338 shares of the software giant’s stock valued at $1,006,000 after acquiring an additional 400 shares in the last quarter. Sterling Manor Financial LLC raised its holdings in Microsoft by 2.1% in the 3rd quarter. Sterling Manor Financial LLC now owns 1,981 shares of the software giant’s stock worth $852,000 after acquiring an additional 41 shares during the last quarter. Finally, TCI Wealth Advisors Inc. lifted its position in Microsoft by 1.8% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 34,587 shares of the software giant’s stock valued at $14,883,000 after acquiring an additional 607 shares in the last quarter. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Microsoft Price Performance

NASDAQ MSFT opened at $438.11 on Friday. The stock has a market cap of $3.26 trillion, a price-to-earnings ratio of 36.15, a PEG ratio of 2.37 and a beta of 0.90. Microsoft Co. has a 12 month low of $366.50 and a 12 month high of $468.35. The company’s 50 day moving average is $428.65 and its two-hundred day moving average is $428.86. 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 (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, beating the consensus estimate of $3.10 by $0.20. The firm had revenue of $65.59 billion for the quarter, compared to the consensus estimate of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm earned $2.99 EPS. As a group, research analysts anticipate that Microsoft Co. will post 12.93 earnings per share for the current year.

Microsoft Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, February 20th. Microsoft’s dividend payout ratio (DPR) is 27.39%.

Microsoft announced that its Board of Directors has initiated a stock buyback program on Monday, September 16th that permits the company to buyback $60.00 billion in outstanding shares. This buyback authorization permits the software giant to purchase up to 1.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial reissued a “buy” rating and issued a $600.00 target price on shares of Microsoft in a report on Monday, October 28th. JPMorgan Chase & Co. reduced their price objective on Microsoft from $470.00 to $465.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group lowered their target price on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Citigroup reduced their price target on shares of Microsoft from $500.00 to $497.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $470.00 price objective on shares of Microsoft in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $509.90.

Insider Buying and Selling

In other Microsoft news, CMO Takeshi Numoto sold 2,500 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $447.41, for a total value of $1,118,525.00. Following the sale, the chief marketing officer now owns 49,352 shares in the company, valued at $22,080,578.32. The trade was a 4.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher David Young sold 7,200 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $423.66, for a total value of $3,050,352.00. Following the transaction, the executive vice president now owns 103,366 shares of the company’s stock, valued at approximately $43,792,039.56. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,200 shares of company stock worth $17,383,892. 0.03% of the stock is owned by corporate insiders.

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.