Trinity Legacy Partners LLC Sells 513 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Mar 20th, 2023

Trinity Legacy Partners LLC reduced its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,891 shares of the software giant’s stock after selling 513 shares during the quarter. Microsoft makes up about 2.2% of Trinity Legacy Partners LLC’s holdings, making the stock its 16th largest position. Trinity Legacy Partners LLC’s holdings in Microsoft were worth $5,490,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. ICICI Prudential Asset Management Co Ltd lifted its holdings in Microsoft by 199.7% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 107,705 shares of the software giant’s stock worth $25,356,000 after acquiring an additional 71,769 shares during the period. Seascape Capital Management raised its stake in shares of Microsoft by 41.9% in the third quarter. Seascape Capital Management now owns 2,908 shares of the software giant’s stock valued at $677,000 after buying an additional 858 shares during the period. Verity & Verity LLC raised its stake in shares of Microsoft by 6.4% in the second quarter. Verity & Verity LLC now owns 67,872 shares of the software giant’s stock valued at $17,432,000 after buying an additional 4,081 shares during the period. BlackDiamond Wealth Management Inc. raised its stake in shares of Microsoft by 9.2% in the third quarter. BlackDiamond Wealth Management Inc. now owns 7,751 shares of the software giant’s stock valued at $1,943,000 after buying an additional 650 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Microsoft by 1.4% in the third quarter. Handelsbanken Fonder AB now owns 2,789,479 shares of the software giant’s stock valued at $649,670,000 after buying an additional 37,545 shares during the period. 69.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $285.00 target price on shares of Microsoft in a research note on Friday. Citigroup boosted their target price on Microsoft from $280.00 to $282.00 and gave the company a “buy” rating in a research note on Wednesday, January 25th. Fundamental Research reduced their price target on Microsoft from $269.73 to $259.47 and set a “buy” rating for the company in a research report on Thursday, February 2nd. Raymond James reduced their price target on Microsoft from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 25th. Finally, Rosenblatt Securities reduced their price target on Microsoft from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and a consensus target price of $286.83.

Insider Activity at Microsoft

In other news, CEO Satya Nadella sold 4,767 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $248.88, for a total value of $1,186,410.96. Following the completion of the sale, the chief executive officer now directly owns 788,625 shares of the company’s stock, valued at approximately $196,272,990. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Satya Nadella sold 4,767 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $248.88, for a total value of $1,186,410.96. Following the completion of the transaction, the chief executive officer now owns 788,625 shares of the company’s stock, valued at approximately $196,272,990. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Christopher C. Capossela sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $272.32, for a total value of $272,320.00. Following the completion of the transaction, the chief marketing officer now owns 116,362 shares of the company’s stock, valued at approximately $31,687,699.84. The disclosure for this sale can be found here. Insiders have sold a total of 6,767 shares of company stock worth $1,728,111 over the last quarter. Corporate insiders own 0.03% of the company’s stock.

Microsoft Price Performance

Shares of Microsoft stock opened at $279.43 on Monday. The company’s fifty day simple moving average is $252.31 and its two-hundred day simple moving average is $245.31. Microsoft Co. has a 12-month low of $213.43 and a 12-month high of $315.95. The firm has a market cap of $2.08 trillion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 2.54 and a beta of 0.92. The company has a quick ratio of 1.89, a current ratio of 1.93 and a debt-to-equity ratio of 0.24.

Microsoft (NASDAQ:MSFT – Get Rating) last posted its earnings results on Tuesday, January 24th. The software giant reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.05. The company had revenue of $52.75 billion for the quarter, compared to analysts’ expectations of $53.17 billion. Microsoft had a return on equity of 39.87% and a net margin of 33.05%. Microsoft’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.48 earnings per share. As a group, equities analysts expect that Microsoft Co. will post 9.34 EPS for the current year.

Microsoft Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Thursday, May 18th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.97%. Microsoft’s dividend payout ratio is presently 30.22%.

About Microsoft

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Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment consists of Office Commercial (Office 365 subscriptions, the Office 365 portion of Microsoft 365 Commercial subscriptions, and Office licensed on-premises), Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, Office Consumer, including Microsoft 365 Consumer subscriptions, Office licensed on-premises, and other Office services, LinkedIn, including Talent Solutions, Marketing Solutions, Premium Subscriptions, Sales Solutions, and Learning Solutions, Dynamics business solutions, including Dynamics 365, comprising a set of intelligent, cloud-based applications across ERP, CRM, Customer Insights, Power Apps, and Power Automate, and on-premises ERP and CRM applications.