Microsoft Co. (NASDAQ:MSFT) Position Trimmed by Bank of Stockton

Bank of Stockton lessened its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,048 shares of the software giant’s stock after selling 33 shares during the period. Microsoft makes up about 2.6% of Bank of Stockton’s portfolio, making the stock its 7th biggest position. Bank of Stockton’s holdings in Microsoft were worth $8,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new position in shares of Microsoft in the 4th quarter valued at $58,000. Richardson Capital Management LLC increased its holdings in Microsoft by 1,290.0% in the 1st quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after acquiring an additional 129 shares in the last quarter. Bellevue Group AG increased its holdings in Microsoft by 47.5% in the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after acquiring an additional 58 shares in the last quarter. Horizon Financial Services LLC purchased a new stake in Microsoft in the 1st quarter worth $80,000. Finally, Cooksen Wealth LLC purchased a new stake in Microsoft in the 4th quarter worth $86,000. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Truist Financial reissued a “buy” rating and issued a $600.00 price target on shares of Microsoft in a report on Monday, June 17th. Morgan Stanley reissued an “overweight” rating and issued a $506.00 price target on shares of Microsoft in a report on Tuesday, September 17th. UBS Group cut their price target on shares of Microsoft from $520.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Tigress Financial boosted their price target on shares of Microsoft from $475.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $550.00 target price on shares of Microsoft in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $493.94.

Insider Transactions at Microsoft

In related news, CFO Amy Hood sold 38,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $410.55, for a total value of $15,600,900.00. Following the sale, the chief financial officer now owns 496,369 shares of the company’s stock, valued at $203,784,292.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Bradford L. Smith sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $402.59, for a total value of $16,103,600.00. Following the sale, the insider now owns 544,847 shares of the company’s stock, valued at $219,349,953.73. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy Hood sold 38,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $410.55, for a total transaction of $15,600,900.00. Following the completion of the transaction, the chief financial officer now owns 496,369 shares in the company, valued at $203,784,292.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 190,629 shares of company stock valued at $77,916,485. 0.03% of the stock is currently owned by corporate insiders.

Microsoft Trading Down 0.8 %

NASDAQ MSFT opened at $428.02 on Friday. The firm’s 50-day moving average is $419.69 and its two-hundred day moving average is $424.76. Microsoft Co. has a 12 month low of $309.45 and a 12 month high of $468.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market capitalization of $3.18 trillion, a P/E ratio of 37.06, a PEG ratio of 2.30 and a beta of 0.90.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.05. The business had revenue of $64.73 billion for the quarter, compared to analysts’ expectations of $64.38 billion. Microsoft had a net margin of 35.96% and a return on equity of 35.95%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.69 earnings per share. On average, sell-side analysts anticipate that Microsoft Co. will post 13.04 earnings per share for the current year.

Microsoft Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s dividend payout ratio is currently 25.97%.

Microsoft declared that its Board of Directors has approved a stock buyback plan on Monday, September 16th that authorizes the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization authorizes the software giant to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.