Ipswich Investment Management Co. Inc. Sells 802 Shares of Microsoft Co. (NASDAQ:MSFT)

Ipswich Investment Management Co. Inc. reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,026 shares of the software giant’s stock after selling 802 shares during the period. Microsoft comprises approximately 6.5% of Ipswich Investment Management Co. Inc.’s holdings, making the stock its biggest position. Ipswich Investment Management Co. Inc.’s holdings in Microsoft were worth $27,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc lifted its position in shares of Microsoft by 169.2% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after buying an additional 44 shares during the last quarter. Quarry LP bought a new position in Microsoft in the second quarter worth about $45,000. Innealta Capital LLC acquired a new position in Microsoft in the second quarter valued at approximately $75,000. Carolina Wealth Advisors LLC grew its holdings in shares of Microsoft by 10.1% during the third quarter. Carolina Wealth Advisors LLC now owns 338 shares of the software giant’s stock valued at $145,000 after purchasing an additional 31 shares during the last quarter. Finally, MayTech Global Investments LLC acquired a new stake in shares of Microsoft during the 2nd quarter worth approximately $200,000. Institutional investors own 71.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MSFT shares. Wells Fargo & Company restated a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. Cantor Fitzgerald initiated coverage on shares of Microsoft in a research report on Friday. They set an “overweight” rating and a $509.00 price target for the company. Truist Financial reiterated a “buy” rating and issued a $600.00 price objective on shares of Microsoft in a research report on Monday, October 28th. Wedbush restated an “outperform” rating and issued a $550.00 target price on shares of Microsoft in a research report on Tuesday, November 19th. Finally, DA Davidson cut Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 price target on the stock. in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and a consensus target price of $512.93.

Microsoft Stock Performance

MSFT opened at $429.03 on Tuesday. The business has a fifty day simple moving average of $429.32 and a 200-day simple moving average of $426.14. The firm has a market cap of $3.19 trillion, a PE ratio of 35.40, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 0.15. Microsoft Co. has a fifty-two week low of $385.58 and a fifty-two week high of $468.35.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.20. The business had revenue of $65.59 billion during the quarter, compared to analyst estimates of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. Microsoft’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted $2.99 EPS. As a group, equities analysts predict that Microsoft Co. will post 12.92 EPS for the current fiscal year.

Microsoft Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors 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 yield of 0.77%. The ex-dividend date of this dividend is Thursday, February 20th. Microsoft’s dividend payout ratio is 27.39%.

Insiders Place Their Bets

In other Microsoft news, CMO Takeshi Numoto sold 1,000 shares of Microsoft stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $414.72, for a total value of $414,720.00. Following the completion of the sale, the chief marketing officer now directly owns 57,511 shares in the company, valued at $23,850,961.92. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher David Young sold 7,200 shares of Microsoft stock in a transaction on 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 sale, the executive vice president now directly 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. In the last three months, insiders have sold 41,200 shares of company stock worth $17,383,892. Corporate insiders own 0.03% of the company’s stock.

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.