Penobscot Investment Management Company Inc. Sells 1,110 Shares of Microsoft Co. (NASDAQ:MSFT)

Penobscot Investment Management Company Inc. lowered its holdings in Microsoft Co. (NASDAQ:MSFT) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,703 shares of the software giant’s stock after selling 1,110 shares during the period. Microsoft comprises 5.1% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 3rd biggest holding. Penobscot Investment Management Company Inc.’s holdings in Microsoft were worth $56,356,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MSFT. UNIVEST FINANCIAL Corp increased its position in shares of Microsoft by 4.8% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 160,123 shares of the software giant’s stock worth $67,492,000 after acquiring an additional 7,374 shares in the last quarter. Morey & Quinn Wealth Partners LLC acquired a new stake in Microsoft in the fourth quarter valued at approximately $3,439,000. Ipsen Advisor Group LLC acquired a new stake in Microsoft in the fourth quarter valued at approximately $1,300,000. Summitry LLC lifted its stake in Microsoft by 1.7% in the fourth quarter. Summitry LLC now owns 141,384 shares of the software giant’s stock valued at $59,593,000 after acquiring an additional 2,413 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Microsoft in the fourth quarter valued at approximately $2,891,000. Institutional investors and hedge funds own 71.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MSFT. Bank of America reduced their target price on shares of Microsoft from $510.00 to $480.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lifted their target price on shares of Microsoft from $465.00 to $475.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Stifel Nicolaus boosted their price objective on shares of Microsoft from $475.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. TD Securities boosted their price objective on shares of Microsoft from $475.00 to $490.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, UBS Group reduced their price objective on shares of Microsoft from $510.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $513.13.

Microsoft Trading Up 0.0%

Shares of Microsoft stock opened at $458.77 on Monday. The firm has a market capitalization of $3.41 trillion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34. The company’s fifty day moving average price is $409.00 and its two-hundred day moving average price is $415.04. Microsoft Co. has a 52-week low of $344.79 and a 52-week high of $468.35.

Microsoft (NASDAQ:MSFT) last issued its earnings results on Wednesday, April 30th. The software giant reported $3.46 EPS for the quarter, beating the consensus estimate of $3.22 by $0.24. Microsoft had a net margin of 35.43% and a return on equity of 33.36%. The company had revenue of $70.07 billion for the quarter, compared to the consensus estimate of $68.54 billion. During the same quarter in the previous year, the company earned $2.94 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, analysts expect that Microsoft Co. will post 13.08 EPS for the current year.

Microsoft Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.32 annualized dividend and a dividend yield of 0.72%. Microsoft’s dividend payout ratio is presently 25.66%.

Insider Activity

In related news, insider Bradford L. Smith sold 75,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $436.05, for a total transaction of $32,703,750.00. Following the transaction, the insider now owns 476,999 shares in the company, valued at $207,995,413.95. This represents a 13.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amy Coleman sold 13,243 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $452.01, for a total transaction of $5,985,968.43. Following the transaction, the executive vice president now owns 43,100 shares in the company, valued at approximately $19,481,631. This trade represents a 23.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,743 shares of company stock worth $58,375,673. Corporate insiders own 0.03% of the company’s stock.

About Microsoft

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.