VeraBank N.A. Purchases 71 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Apr 20th, 2023

VeraBank N.A. grew its position in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,697 shares of the software giant’s stock after purchasing an additional 71 shares during the quarter. Microsoft makes up 3.4% of VeraBank N.A.’s investment portfolio, making the stock its 5th largest position. VeraBank N.A.’s holdings in Microsoft were worth $6,882,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Iron Horse Wealth Management LLC purchased a new position in shares of Microsoft in the 4th quarter valued at $26,000. Monumental Financial Group Inc. purchased a new stake in shares of Microsoft in the first quarter valued at about $28,000. Hanseatic Management Services Inc. boosted its holdings in shares of Microsoft by 71.4% in the third quarter. Hanseatic Management Services Inc. now owns 132 shares of the software giant’s stock valued at $31,000 after acquiring an additional 55 shares in the last quarter. Retirement Financial Solutions LLC purchased a new stake in shares of Microsoft in the fourth quarter valued at about $40,000. Finally, Macroview Investment Management LLC acquired a new stake in shares of Microsoft in the fourth quarter valued at about $61,000. 69.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Microsoft

In other Microsoft news, CMO Christopher C. Capossela sold 1,000 shares of the company’s stock in a transaction dated 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 sale, the chief marketing officer now directly owns 116,362 shares of the company’s stock, valued at approximately $31,687,699.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Satya Nadella sold 4,767 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were 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 directly owns 788,625 shares in the company, valued at $196,272,990. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Christopher C. Capossela sold 1,000 shares of the business’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 transaction of $272,320.00. Following the transaction, the chief marketing officer now directly owns 116,362 shares in the company, valued at $31,687,699.84. The disclosure for this sale can be found here. In the last three months, insiders sold 6,767 shares of company stock valued at $1,728,111. 0.03% of the stock is owned by insiders.

Analysts Set New Price Targets

MSFT has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Microsoft from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, April 14th. Credit Suisse Group set a $285.00 price target on shares of Microsoft in a report on Thursday, March 2nd. Raymond James boosted their target price on shares of Microsoft from $270.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, April 3rd. Guggenheim downgraded shares of Microsoft from a “neutral” rating to a “sell” rating and set a $212.00 target price for the company. in a report on Tuesday, January 17th. Finally, Citigroup boosted their price objective on shares of Microsoft from $282.00 to $332.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-eight have issued a buy rating to the company. Based on data from MarketBeat, Microsoft has a consensus rating of “Moderate Buy” and a consensus target price of $297.71.

Microsoft Stock Up 0.0 %

Microsoft stock opened at $288.45 on Thursday. The company has a 50-day simple moving average of $270.00 and a 200-day simple moving average of $251.03. The firm has a market capitalization of $2.15 trillion, a P/E ratio of 32.05, a P/E/G ratio of 2.53 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.89 and a current ratio of 1.93. Microsoft Co. has a one year low of $213.43 and a one year high of $294.18.

Microsoft (NASDAQ:MSFT – Get Rating) last released its quarterly earnings results on Tuesday, January 24th. The software giant reported $2.32 EPS for the quarter, topping the consensus estimate of $2.27 by $0.05. The business had revenue of $52.75 billion during the quarter, compared to analyst estimates of $53.17 billion. Microsoft had a net margin of 33.05% and a return on equity of 39.87%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.48 earnings per share. As a group, equities analysts expect that Microsoft Co. will post 9.31 earnings per share for the current year.

Microsoft Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Thursday, May 18th will be given a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $2.72 dividend on an annualized basis and a yield of 0.94%. Microsoft’s dividend payout ratio is presently 30.22%.

Microsoft Profile

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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.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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