Indiana Trust & Investment Management CO Sells 41 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Jun 21st, 2023

Indiana Trust & Investment Management CO cut its holdings in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 0.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 9,296 shares of the software giant’s stock after selling 41 shares during the quarter. Microsoft comprises 1.5% of Indiana Trust & Investment Management CO’s holdings, making the stock its 17th biggest position. Indiana Trust & Investment Management CO’s holdings in Microsoft were worth $2,680,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC bought a new stake in Microsoft during the 4th quarter worth about $26,000. Monumental Financial Group Inc. acquired a new position in Microsoft during the first quarter valued at approximately $28,000. Hanseatic Management Services Inc. grew its stake in 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 purchasing an additional 55 shares in the last quarter. Retirement Financial Solutions LLC acquired a new position in shares of Microsoft during the 4th quarter worth approximately $40,000. Finally, PayPay Securities Corp bought a new stake in shares of Microsoft during the 4th quarter worth approximately $54,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MSFT shares. Wolfe Research upped their price target on shares of Microsoft from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. KeyCorp lifted their price target on Microsoft from $316.00 to $335.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. UBS Group upped their price objective on Microsoft from $275.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, April 26th. Raymond James boosted their target price on Microsoft from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, Evercore ISI raised their price target on Microsoft from $337.00 to $400.00 in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $333.23.

Microsoft Trading Down 1.3 %

MSFT opened at $338.05 on Wednesday. The firm has a market capitalization of $2.51 trillion, a PE ratio of 36.63, a P/E/G ratio of 3.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.91 and a quick ratio of 1.88. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $351.47. The company’s 50-day moving average is $314.02 and its 200 day moving average is $275.74.

Microsoft (NASDAQ:MSFT – Get Rating) last announced its earnings results on Tuesday, April 25th. The software giant reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.23. The company had revenue of $52.86 billion for the quarter, compared to analysts’ expectations of $51.01 billion. Microsoft had a return on equity of 38.98% and a net margin of 33.25%. Microsoft’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.22 earnings per share. As a group, research analysts predict that Microsoft Co. will post 9.65 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 17th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.72 annualized dividend and a dividend yield of 0.80%. Microsoft’s dividend payout ratio is currently 29.47%.

Insider Activity at Microsoft

In other Microsoft news, Director Teri List sold 1,250 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $334.77, for a total value of $418,462.50. Following the completion of the sale, the director now owns 874 shares in the company, valued at approximately $292,588.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Microsoft news, EVP Judson Althoff sold 30,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $306.09, for a total value of $9,182,700.00. Following the completion of the transaction, the executive vice president now owns 117,456 shares in the company, valued at approximately $35,952,107.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teri List sold 1,250 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $334.77, for a total transaction of $418,462.50. Following the completion of the transaction, the director now directly owns 874 shares in the company, valued at $292,588.98. The disclosure for this sale can be found here. Insiders have sold 51,331 shares of company stock valued at $15,867,278 over the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Microsoft Company Profile

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Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.