Farmers & Merchants Trust Co of Chambersburg PA Sells 2,539 Shares of Microsoft Co. (NASDAQ:MSFT)

Posted by on Jun 30th, 2023

Farmers & Merchants Trust Co of Chambersburg PA decreased its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,406 shares of the software giant’s stock after selling 2,539 shares during the period. Microsoft comprises approximately 3.5% of Farmers & Merchants Trust Co of Chambersburg PA’s investment portfolio, making the stock its largest holding. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Microsoft were worth $5,306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC purchased a new stake in Microsoft in the fourth quarter valued at approximately $26,000. Monumental Financial Group Inc. acquired a new stake in Microsoft in the first quarter valued at $28,000. Hanseatic Management Services Inc. lifted its position 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 $40,000. Finally, PayPay Securities Corp purchased a new position in Microsoft during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MSFT. BNP Paribas lowered Microsoft from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $310.00 to $300.00 in a research note on Monday, April 24th. Credit Suisse Group raised their price objective on Microsoft from $350.00 to $420.00 in a research note on Wednesday, May 31st. KeyCorp increased their target price on Microsoft from $316.00 to $335.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Piper Sandler raised their price target on Microsoft from $348.00 to $400.00 in a report on Wednesday, May 31st. Finally, Wedbush raised their price target on Microsoft from $340.00 to $375.00 in a report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $333.18.

Insider Buying and Selling at Microsoft

In other Microsoft news, Director Teri List sold 1,250 shares of Microsoft stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $334.77, for a total transaction of $418,462.50. Following the completion of the sale, the director now directly owns 874 shares in the company, valued at approximately $292,588.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Teri List sold 1,250 shares of the business’s stock in a transaction on 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 transaction, the director now directly 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 accessible through the SEC website. Also, 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 transaction of $9,182,700.00. Following the transaction, the executive vice president now owns 117,456 shares of the company’s stock, valued at $35,952,107.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,331 shares of company stock worth $15,867,278. Company insiders own 0.03% of the company’s stock.

Microsoft Stock Down 0.2 %

Shares of Microsoft stock opened at $335.05 on Friday. 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 1 year low of $213.43 and a 1 year high of $351.47. The firm’s 50-day moving average is $320.64 and its two-hundred day moving average is $279.62. The stock has a market cap of $2.49 trillion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.92 and a beta of 0.93.

Microsoft (NASDAQ:MSFT – Free Report) last released its quarterly earnings results on Tuesday, April 25th. The software giant reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.23. The business had revenue of $52.86 billion for the quarter, compared to analysts’ expectations of $51.01 billion. Microsoft had a net margin of 33.25% and a return on equity of 38.98%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $2.22 EPS. As a group, research analysts expect that Microsoft Co. will post 9.64 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Wednesday, August 16th. Microsoft’s payout ratio is 29.47%.

Microsoft Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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