Microsoft Co. (NASDAQ:MSFT) Shares Sold by Community Trust & Investment Co.

Posted by Defense World Staff on Sep 26th, 2023

Community Trust & Investment Co. lowered its stake in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,255 shares of the software giant’s stock after selling 5,788 shares during the quarter. Microsoft accounts for 5.6% of Community Trust & Investment Co.’s investment portfolio, making the stock its 3rd largest holding. Community Trust & Investment Co.’s holdings in Microsoft were worth $69,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. DGS Capital Management LLC raised its stake in shares of Microsoft by 19.9% during the 1st quarter. DGS Capital Management LLC now owns 14,342 shares of the software giant’s stock worth $4,422,000 after purchasing an additional 2,383 shares during the period. IFM Investors Pty Ltd boosted its holdings in Microsoft by 20.8% in the 1st quarter. IFM Investors Pty Ltd now owns 1,138,469 shares of the software giant’s stock worth $351,001,000 after buying an additional 196,338 shares during the period. Altus Wealth Group LLC boosted its holdings in shares of Microsoft by 1.2% in the first quarter. Altus Wealth Group LLC now owns 12,712 shares of the software giant’s stock worth $3,919,000 after acquiring an additional 152 shares during the period. Powell Investment Advisors LLC boosted its stake in Microsoft by 16.2% in the 1st quarter. Powell Investment Advisors LLC now owns 2,578 shares of the software giant’s stock worth $795,000 after purchasing an additional 359 shares during the period. Finally, Onyx Bridge Wealth Group LLC grew its stake in Microsoft by 8.2% during the first quarter. Onyx Bridge Wealth Group LLC now owns 6,782 shares of the software giant’s stock valued at $1,921,000 after acquiring an additional 512 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Insider Buying and Selling

In other Microsoft news, EVP Kathleen T. Hogan sold 26,815 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $327.37, for a total value of $8,778,426.55. Following the sale, the executive vice president now owns 198,373 shares in the company, valued at approximately $64,941,369.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Kathleen T. Hogan sold 26,815 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $327.37, for a total transaction of $8,778,426.55. Following the sale, the executive vice president now directly owns 198,373 shares of the company’s stock, valued at approximately $64,941,369.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradford L. Smith sold 50,000 shares of the 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 owns 588,084 shares of the company’s stock, valued at approximately $198,301,924.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,049 shares of company stock valued at $38,195,619. Corporate insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

MSFT has been the subject of several recent analyst reports. Fundamental Research set a $298.10 target price on Microsoft and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Oppenheimer reissued an “outperform” rating and issued a $410.00 price target on shares of Microsoft in a research note on Friday, July 28th. Bank of America increased their price objective on Microsoft from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. KeyCorp raised their target price on Microsoft from $340.00 to $400.00 in a research note on Tuesday, July 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $400.00 price objective on shares of Microsoft in a research report on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and an average target price of $375.03.

Read Our Latest Stock Analysis on Microsoft

Microsoft Stock Up 0.2 %

Microsoft stock opened at $317.54 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.77. The stock has a market cap of $2.36 trillion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90. The stock has a fifty day moving average of $330.05 and a 200 day moving average of $316.86. 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 issued its quarterly earnings results on Tuesday, July 25th. The software giant reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.14. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The business had revenue of $56.19 billion during the quarter, compared to analysts’ expectations of $55.49 billion. During the same quarter in the prior year, the business posted $2.23 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that Microsoft Co. will post 10.9 EPS for the current year.

Microsoft Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.94%. This is an increase from Microsoft’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, November 15th. Microsoft’s payout ratio is presently 30.96%.

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.