Microsoft Co. (NASDAQ:MSFT) Shares Sold by Bremer Bank National Association

Posted by Defense World Staff on Jul 4th, 2023

Bremer Bank National Association cut its position in Microsoft Co. (NASDAQ:MSFT – Free Report) by 6.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,190 shares of the software giant’s stock after selling 2,244 shares during the quarter. Microsoft accounts for about 2.0% of Bremer Bank National Association’s portfolio, making the stock its 7th largest holding. Bremer Bank National Association’s holdings in Microsoft were worth $10,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Iron Horse Wealth Management LLC acquired a new position in Microsoft during the 4th quarter worth approximately $26,000. Monumental Financial Group Inc. acquired a new position in Microsoft during the 1st quarter worth approximately $28,000. Retirement Financial Solutions LLC acquired a new position in Microsoft during the 4th quarter worth approximately $40,000. PayPay Securities Corp acquired a new position in Microsoft during the 4th quarter worth approximately $54,000. Finally, Macroview Investment Management LLC acquired a new position in Microsoft during the 4th quarter worth approximately $61,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Stock Performance

Shares of MSFT stock opened at $337.99 on Tuesday. The firm has a 50-day moving average of $322.86 and a 200-day moving average of $281.18. The company has a market cap of $2.51 trillion, a P/E ratio of 36.62, a P/E/G ratio of 3.03 and a beta of 0.92. 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 one year low of $213.43 and a one year high of $351.47.

Microsoft (NASDAQ:MSFT – Free Report) last announced its earnings results on Tuesday, April 25th. The software giant reported $2.45 EPS for the quarter, beating the consensus estimate of $2.22 by $0.23. The company had revenue of $52.86 billion during the quarter, compared to the consensus estimate of $51.01 billion. Microsoft had a net margin of 33.25% and a return on equity of 38.98%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.22 earnings per share. Equities research analysts forecast that Microsoft Co. will post 9.64 EPS 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 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%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Microsoft from $348.00 to $400.00 in a research report on Wednesday, May 31st. Raymond James boosted their target price on shares of Microsoft from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Wedbush boosted their target price on shares of Microsoft from $340.00 to $375.00 in a report on Tuesday, May 30th. Wells Fargo & Company boosted their target price on shares of Microsoft from $365.00 to $380.00 in a report on Thursday, June 22nd. Finally, Jefferies Financial Group boosted their target price on shares of Microsoft from $325.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-one have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $333.18.

Insider Activity

In related news, EVP Judson Althoff sold 30,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $306.09, for a total transaction 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 $35,952,107.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Judson Althoff sold 30,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $306.09, for a total transaction 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 $35,952,107.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Christopher C. Capossela sold 5,000 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $310.05, for a total transaction of $1,550,250.00. Following the transaction, the chief marketing officer now owns 110,206 shares of the company’s stock, valued at approximately $34,169,370.30. The disclosure for this sale can be found here. Insiders sold a total of 51,331 shares of company stock worth $15,867,278 over the last quarter. Insiders own 0.03% of the company’s stock.

About Microsoft

(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.