Exchange Bank Sells 775 Shares of Microsoft Co. (NASDAQ:MSFT)

Exchange Bank reduced its stake in Microsoft Co. (NASDAQ:MSFTFree Report) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,713 shares of the software giant’s stock after selling 775 shares during the period. Microsoft accounts for approximately 3.5% of Exchange Bank’s holdings, making the stock its 5th biggest position. Exchange Bank’s holdings in Microsoft were worth $4,029,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Monumental Financial Group Inc. acquired a new position in shares of Microsoft in the 1st quarter worth approximately $28,000. Atlantic Private Wealth LLC lifted its stake in Microsoft by 534.5% during the second quarter. Atlantic Private Wealth LLC now owns 184 shares of the software giant’s stock valued at $63,000 after purchasing an additional 155 shares during the last quarter. Hibernia Wealth Partners LLC bought a new stake in Microsoft during the third quarter worth approximately $69,000. Iron Horse Wealth Management LLC grew its position in Microsoft by 89.0% in the third quarter. Iron Horse Wealth Management LLC now owns 223 shares of the software giant’s stock worth $70,000 after buying an additional 105 shares during the last quarter. Finally, MayTech Global Investments LLC acquired a new stake in shares of Microsoft during the 4th quarter valued at $83,000. 71.13% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Kathleen T. Hogan sold 21,955 shares of Microsoft stock in a transaction on Monday, March 11th. The stock was sold at an average price of $403.96, for a total transaction of $8,868,941.80. Following the completion of the sale, the executive vice president now directly owns 159,764 shares of the company’s stock, valued at $64,538,265.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Microsoft news, major shareholder Corp Microsoft sold 1,000,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $1.95, for a total value of $1,950,000.00. Following the sale, the insider now directly owns 11,677,398 shares in the company, valued at $22,770,926.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kathleen T. Hogan sold 21,955 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $403.96, for a total transaction of $8,868,941.80. Following the completion of the sale, the executive vice president now owns 159,764 shares of the company’s stock, valued at approximately $64,538,265.44. The disclosure for this sale can be found here. Insiders have sold a total of 1,070,258 shares of company stock valued at $30,690,456 in the last 90 days. 0.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MSFT shares. China Renaissance assumed coverage on Microsoft in a research report on Tuesday, December 5th. They set a “buy” rating and a $466.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $455.00 price objective on shares of Microsoft in a research note on Thursday, January 25th. Macquarie raised their target price on shares of Microsoft from $430.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. BNP Paribas upgraded shares of Microsoft from a “neutral” rating to an “outperform” rating and set a $471.00 price target on the stock in a report on Thursday, January 18th. Finally, StockNews.com downgraded shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and thirty-six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $423.34.

Get Our Latest Stock Report on Microsoft

Microsoft Stock Performance

MSFT stock opened at $421.43 on Thursday. The stock has a market capitalization of $3.13 trillion, a PE ratio of 38.10, a price-to-earnings-growth ratio of 2.25 and a beta of 0.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.20. The company has a 50 day moving average price of $409.64 and a 200 day moving average price of $373.65. Microsoft Co. has a fifty-two week low of $272.05 and a fifty-two week high of $430.82.

Microsoft (NASDAQ:MSFTGet Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The software giant reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.17. The business had revenue of $62.02 billion for the quarter, compared to analysts’ expectations of $61.14 billion. Microsoft had a return on equity of 38.40% and a net margin of 36.27%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.32 earnings per share. Analysts forecast that Microsoft Co. will post 11.63 EPS for the current year.

Microsoft Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Wednesday, May 15th. Microsoft’s payout ratio is 27.12%.

About Microsoft

(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.

See Also

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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