Microsoft Co. (NASDAQ:MSFT) Shares Sold by Greatmark Investment Partners Inc.

Posted by Defense World Staff on Aug 9th, 2023

Greatmark Investment Partners Inc. cut its position in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,597 shares of the software giant’s stock after selling 3,846 shares during the quarter. Microsoft comprises about 4.5% of Greatmark Investment Partners Inc.’s holdings, making the stock its 4th largest position. Greatmark Investment Partners Inc.’s holdings in Microsoft were worth $25,254,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Strategic Point Investment Advisors LLC bought a new position in Microsoft during the first quarter worth $256,000. Schechter Investment Advisors LLC boosted its stake in Microsoft by 2.5% during the first quarter. Schechter Investment Advisors LLC now owns 54,769 shares of the software giant’s stock worth $15,790,000 after acquiring an additional 1,318 shares in the last quarter. Garrison Asset Management LLC boosted its stake in Microsoft by 44.6% during the first quarter. Garrison Asset Management LLC now owns 2,649 shares of the software giant’s stock worth $764,000 after acquiring an additional 817 shares in the last quarter. Penobscot Wealth Management boosted its stake in Microsoft by 2.8% during the first quarter. Penobscot Wealth Management now owns 8,892 shares of the software giant’s stock worth $2,562,000 after acquiring an additional 241 shares in the last quarter. Finally, TB Alternative Assets Ltd. bought a new position in Microsoft during the first quarter worth $2,566,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Trading Down 1.2 %

Shares of MSFT opened at $326.05 on Wednesday. The firm has a market cap of $2.42 trillion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.43 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.77. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $366.78. The firm has a 50 day moving average price of $337.00 and a 200-day moving average price of $299.28.

Microsoft (NASDAQ:MSFT – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The software giant reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.14. The firm had revenue of $56.19 billion during the quarter, compared to analyst estimates of $55.49 billion. Microsoft had a net margin of 34.15% and a return on equity of 38.70%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.23 EPS. As a group, equities research analysts forecast that Microsoft Co. will post 10.85 earnings per share for the current year.

Microsoft Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 17th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.72 dividend on an annualized basis and a yield of 0.83%. Microsoft’s dividend payout ratio is currently 28.07%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen increased their target price on shares of Microsoft from $330.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 19th. Evercore ISI increased their target price on shares of Microsoft from $337.00 to $400.00 in a research note on Friday, June 2nd. Mizuho raised their price objective on shares of Microsoft from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Tigress Financial raised their price objective on shares of Microsoft from $411.00 to $433.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Wedbush raised their price objective on shares of Microsoft from $375.00 to $400.00 in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and an average target price of $370.76.

View Our Latest Stock Analysis on MSFT

Insider Activity at Microsoft

In related news, Director Teri List sold 1,250 shares of the company’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Microsoft news, insider Bradford L. Smith sold 50,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the transaction, the insider now directly owns 588,084 shares of the company’s stock, valued at approximately $198,301,924.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $418,462.50. Following 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 sold 61,331 shares of company stock worth $20,450,828 in the last three months. 0.03% of the stock is owned by insiders.

Microsoft Company 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.

Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Co. (NASDAQ:MSFT – Free Report).

Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.