Trust Point Inc. Reduces Stock Holdings in Microsoft Corporation (NASDAQ:MSFT)

Trust Point Inc. cut its stake in Microsoft Corporation (NASDAQ:MSFT) by 27.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,597 shares of the software giant’s stock after selling 14,151 shares during the period. Microsoft makes up approximately 1.3% of Trust Point Inc.’s holdings, making the stock its 10th biggest position. Trust Point Inc.’s holdings in Microsoft were worth $13,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Authentikos Wealth Advisory LLC acquired a new stake in Microsoft during the first quarter worth $2,964,000. Cyndeo Wealth Partners LLC boosted its stake in Microsoft by 11.1% during the first quarter. Cyndeo Wealth Partners LLC now owns 163,885 shares of the software giant’s stock worth $61,521,000 after buying an additional 16,432 shares in the last quarter. Hanson & Doremus Investment Management boosted its stake in Microsoft by 11.5% during the first quarter. Hanson & Doremus Investment Management now owns 48,781 shares of the software giant’s stock worth $18,312,000 after buying an additional 5,027 shares in the last quarter. Bayshore Asset Management LLC boosted its stake in Microsoft by 0.6% during the first quarter. Bayshore Asset Management LLC now owns 4,490 shares of the software giant’s stock worth $1,686,000 after buying an additional 27 shares in the last quarter. Finally, CHB Investment Group LLC boosted its stake in Microsoft by 1.9% during the first quarter. CHB Investment Group LLC now owns 6,602 shares of the software giant’s stock worth $2,478,000 after buying an additional 121 shares in the last quarter. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Price Performance

Shares of MSFT opened at $510.05 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.36 and a debt-to-equity ratio of 0.12. The company’s fifty day simple moving average is $477.78 and its 200 day simple moving average is $428.54. Microsoft Corporation has a 1-year low of $344.79 and a 1-year high of $514.64. The company has a market cap of $3.79 trillion, a price-to-earnings ratio of 39.42, a PEG ratio of 2.32 and a beta of 1.04.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Wednesday, April 30th. The software giant reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.24. The firm had revenue of $70.07 billion during the quarter, compared to analysts’ expectations of $68.54 billion. Microsoft had a net margin of 35.79% and a return on equity of 32.74%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.94 earnings per share. On average, research analysts forecast that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $3.32 dividend on an annualized basis and a yield of 0.65%. Microsoft’s dividend payout ratio (DPR) is 25.66%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MSFT. Morgan Stanley reiterated an “overweight” rating and set a $530.00 target price (up previously from $482.00) on shares of Microsoft in a research report on Thursday, June 26th. BMO Capital Markets upped their price target on shares of Microsoft from $485.00 to $550.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Evercore ISI set a $515.00 price target on shares of Microsoft and gave the stock an “outperform” rating in a research report on Wednesday, May 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $581.00 price target (up previously from $512.00) on shares of Microsoft in a research report on Wednesday. Finally, Raymond James Financial upped their price target on shares of Microsoft from $480.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $541.79.

Insider Activity

In related news, EVP Amy Coleman sold 13,243 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $452.01, for a total value of $5,985,968.43. Following the completion of the transaction, the executive vice president owned 43,100 shares of the company’s stock, valued at $19,481,631. The trade was a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathleen T. Hogan sold 21,500 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $453.77, for a total value of $9,756,055.00. Following the completion of the transaction, the executive vice president directly owned 134,888 shares of the company’s stock, valued at approximately $61,208,127.76. This trade represents a 13.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,743 shares of company stock valued at $60,224,683. 0.03% of the stock is owned by company insiders.

Microsoft Profile

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.