Baker Boyer National Bank Has $8.68 Million Stake in Microsoft Co. (NASDAQ:MSFT)

Posted by Defense World Staff on Sep 23rd, 2023

Baker Boyer National Bank cut its holdings in Microsoft Co. (NASDAQ:MSFT – Free Report) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,487 shares of the software giant’s stock after selling 2,137 shares during the quarter. Microsoft makes up about 3.2% of Baker Boyer National Bank’s holdings, making the stock its 8th biggest holding. Baker Boyer National Bank’s holdings in Microsoft were worth $8,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSFT. Strategic Investment Solutions Inc. IL raised its position in shares of Microsoft by 0.8% in the first quarter. Strategic Investment Solutions Inc. IL now owns 4,208 shares of the software giant’s stock valued at $1,213,000 after buying an additional 32 shares during the last quarter. Arbor Capital Management Inc. ADV grew its holdings in Microsoft by 0.5% in the first quarter. Arbor Capital Management Inc. ADV now owns 7,166 shares of the software giant’s stock valued at $2,074,000 after purchasing an additional 33 shares during the period. Affiance Financial LLC grew its holdings in Microsoft by 0.3% in the first quarter. Affiance Financial LLC now owns 10,362 shares of the software giant’s stock valued at $2,988,000 after purchasing an additional 35 shares during the period. Henrickson Nauta Wealth Advisors Inc. grew its holdings in Microsoft by 1.3% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 2,898 shares of the software giant’s stock valued at $835,000 after purchasing an additional 36 shares during the period. Finally, Forbes Financial Planning Inc. grew its holdings in Microsoft by 2.0% in the first quarter. Forbes Financial Planning Inc. now owns 1,845 shares of the software giant’s stock valued at $532,000 after purchasing an additional 36 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MSFT has been the subject of a number of recent analyst reports. Tigress Financial boosted their target price on shares of Microsoft from $411.00 to $433.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Evercore ISI boosted their target price on shares of Microsoft from $337.00 to $400.00 in a report on Friday, June 2nd. Piper Sandler reiterated an “overweight” rating and set a $400.00 price objective on shares of Microsoft in a research note on Wednesday, July 26th. Credit Suisse Group boosted their price objective on shares of Microsoft from $350.00 to $420.00 in a research note on Wednesday, May 31st. Finally, Raymond James boosted their price objective on shares of Microsoft from $320.00 to $400.00 and gave the stock an “outperform” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Microsoft presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.03.

Check Out Our Latest Stock Report on MSFT

Microsoft Stock Down 0.8 %

Microsoft stock opened at $317.01 on Friday. The company has a 50-day simple moving average of $331.18 and a 200-day simple moving average of $315.11. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 32.72, a P/E/G ratio of 2.36 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 one year low of $213.43 and a one year high of $366.78.

Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The software giant reported $2.69 EPS for the quarter, topping the consensus estimate of $2.55 by $0.14. The business 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 company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.23 earnings per share. As a group, equities analysts expect that Microsoft Co. will post 10.9 earnings per share for the current year.

Microsoft Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $3.00 annualized dividend and a dividend yield of 0.95%. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. Microsoft’s dividend payout ratio is currently 28.07%.

Insider Transactions at Microsoft

In other news, EVP Kathleen T. Hogan sold 26,815 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $327.37, for a total transaction of $8,778,426.55. Following the completion of the transaction, the executive vice president now owns 198,373 shares in the company, valued at $64,941,369.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Microsoft news, EVP Kathleen T. Hogan sold 26,815 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $327.37, for a total transaction of $8,778,426.55. Following the transaction, the executive vice president now owns 198,373 shares of the company’s stock, valued at approximately $64,941,369.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bradford L. Smith sold 50,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $198,301,924.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,049 shares of company stock worth $38,195,619. Insiders own 0.03% of the company’s stock.

Microsoft Profile

(Free Report)

Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.