Adirondack Trust Co. decreased its position in shares of Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,284 shares of the software giant’s stock after selling 443 shares during the period. Microsoft comprises about 3.1% of Adirondack Trust Co.’s holdings, making the stock its 4th largest holding. Adirondack Trust Co.’s holdings in Microsoft were worth $6,064,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Walled Lake Planning & Wealth Management LLC boosted its holdings in shares of Microsoft by 0.5% during the 2nd quarter. Walled Lake Planning & Wealth Management LLC now owns 7,369 shares of the software giant’s stock valued at $1,893,000 after purchasing an additional 38 shares during the last quarter. Donoghue Forlines LLC lifted its holdings in shares of Microsoft by 1.6% in the 2nd quarter. Donoghue Forlines LLC now owns 2,598 shares of the software giant’s stock valued at $667,000 after acquiring an additional 40 shares during the last quarter. Rovin Capital UT ADV lifted its holdings in shares of Microsoft by 1.1% in the 3rd quarter. Rovin Capital UT ADV now owns 3,747 shares of the software giant’s stock valued at $873,000 after acquiring an additional 40 shares during the last quarter. Fountainhead AM LLC lifted its holdings in shares of Microsoft by 1.0% in the 2nd quarter. Fountainhead AM LLC now owns 4,196 shares of the software giant’s stock valued at $1,078,000 after acquiring an additional 41 shares during the last quarter. Finally, Lokken Investment Group LLC lifted its holdings in shares of Microsoft by 0.3% in the 2nd quarter. Lokken Investment Group LLC now owns 11,976 shares of the software giant’s stock valued at $3,076,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 69.15% of the company’s stock.
Insider Buying and Selling
In related news, CEO Satya Nadella sold 4,767 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $248.88, for a total transaction of $1,186,410.96. Following the transaction, the chief executive officer now directly owns 788,625 shares in the company, valued at approximately $196,272,990. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Microsoft news, CEO Satya Nadella sold 4,767 shares of Microsoft stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $248.88, for a total transaction of $1,186,410.96. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Christopher C. Capossela sold 1,000 shares of Microsoft stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $272.32, for a total value of $272,320.00. Following the sale, the chief marketing officer now directly 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 in the last ninety days. 0.03% of the stock is owned by insiders.
Microsoft Trading Up 1.0 %
Microsoft (NASDAQ:MSFT – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The software giant reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.05. Microsoft had a return on equity of 39.87% and a net margin of 33.05%. The business had revenue of $52.75 billion for the quarter, compared to the consensus estimate of $53.17 billion. During the same period last year, the business posted $2.48 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Microsoft Co. will post 9.34 earnings per share for the current fiscal year.
Microsoft Dividend Announcement
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 paid a dividend of $0.68 per share. The ex-dividend date is Wednesday, May 17th. This represents a $2.72 annualized dividend and a yield of 0.97%. Microsoft’s dividend payout ratio (DPR) is 30.22%.
Wall Street Analysts Forecast Growth
MSFT has been the subject of a number of analyst reports. Rosenblatt Securities lowered their price target on shares of Microsoft from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, January 26th. Raymond James lowered their price target on shares of Microsoft from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 25th. BMO Capital Markets downgraded shares of Microsoft from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $267.00 to $265.00 in a report on Wednesday, January 25th. They noted that the move was a valuation call. Mizuho raised their price objective on shares of Microsoft from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, March 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $285.00 price objective on shares of Microsoft in a research note on Friday, March 17th. One 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 MarketBeat, Microsoft has a consensus rating of “Moderate Buy” and an average price target of $287.92.
Microsoft Company Profile
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.
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