Legacy Trust Has $17.23 Million Holdings in Microsoft Co. (NASDAQ:MSFT)

Legacy Trust grew its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 1.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,880 shares of the software giant’s stock after acquiring an additional 630 shares during the period. Microsoft comprises 4.0% of Legacy Trust’s investment portfolio, making the stock its 2nd biggest position. Legacy Trust’s holdings in Microsoft were worth $17,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. BCK Partners Inc. lifted its position in Microsoft by 1.8% during the third quarter. BCK Partners Inc. now owns 1,353 shares of the software giant’s stock valued at $582,000 after purchasing an additional 24 shares during the period. Christopher J. Hasenberg Inc lifted its position in Microsoft by 35.7% during the third quarter. Christopher J. Hasenberg Inc now owns 95 shares of the software giant’s stock valued at $39,000 after purchasing an additional 25 shares during the period. Sequent Asset Management LLC lifted its position in Microsoft by 1.3% during the third quarter. Sequent Asset Management LLC now owns 1,983 shares of the software giant’s stock valued at $853,000 after purchasing an additional 25 shares during the period. Cypress Point Wealth Management LLC lifted its position in Microsoft by 0.8% during the third quarter. Cypress Point Wealth Management LLC now owns 3,208 shares of the software giant’s stock valued at $1,380,000 after purchasing an additional 25 shares during the period. Finally, Riverstone Advisors LLC lifted its position in Microsoft by 0.6% during the third quarter. Riverstone Advisors LLC now owns 4,510 shares of the software giant’s stock valued at $1,941,000 after purchasing an additional 25 shares during the period. 71.13% of the stock is owned by institutional investors.

Microsoft Stock Up 1.1 %

MSFT stock opened at $391.26 on Friday. The firm’s fifty day simple moving average is $408.82 and its 200-day simple moving average is $419.67. The company has a market capitalization of $2.91 trillion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 2.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34. Microsoft Co. has a 12 month low of $376.91 and a 12 month high of $468.35.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, January 29th. The software giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.08. Microsoft had a net margin of 35.43% and a return on equity of 33.36%. During the same period in the previous year, the company posted $2.93 earnings per share. As a group, equities research analysts forecast that Microsoft Co. will post 13.08 earnings per share for the current year.

Microsoft Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, May 15th. Microsoft’s payout ratio is 26.73%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MSFT. UBS Group lowered their price objective on shares of Microsoft from $525.00 to $510.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. DA Davidson upgraded shares of Microsoft from a “neutral” rating to a “buy” rating and increased their price objective for the company from $425.00 to $450.00 in a research report on Thursday, March 13th. Mizuho decreased their price target on shares of Microsoft from $510.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $500.00 price target on shares of Microsoft in a research report on Thursday, January 30th. Finally, Tigress Financial increased their price target on shares of Microsoft from $550.00 to $595.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $510.59.

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.