First International Bank & Trust lessened its position in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,103 shares of the software giant’s stock after selling 252 shares during the quarter. Microsoft accounts for 0.9% of First International Bank & Trust’s portfolio, making the stock its 18th largest position. First International Bank & Trust’s holdings in Microsoft were worth $2,538,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Holcombe Financial Inc. increased its holdings in shares of Microsoft by 6.8% in the second quarter. Holcombe Financial Inc. now owns 656 shares of the software giant’s stock valued at $326,000 after purchasing an additional 42 shares during the last quarter. Boltwood Capital Management raised its stake in Microsoft by 5.9% in the second quarter. Boltwood Capital Management now owns 17,986 shares of the software giant’s stock valued at $8,946,000 after buying an additional 996 shares in the last quarter. Heartwood Wealth Advisors LLC increased its position in shares of Microsoft by 14.1% during the second quarter. Heartwood Wealth Advisors LLC now owns 8,959 shares of the software giant’s stock worth $4,456,000 after purchasing an additional 1,107 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Microsoft by 4.0% during the second quarter. Parallel Advisors LLC now owns 296,859 shares of the software giant’s stock worth $147,660,000 after purchasing an additional 11,341 shares in the last quarter. Finally, O Connor Financial Group LLC grew its holdings in shares of Microsoft by 9.4% during the second quarter. O Connor Financial Group LLC now owns 2,490 shares of the software giant’s stock worth $1,242,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.
Microsoft Price Performance
NASDAQ:MSFT opened at $517.93 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.35 and a current ratio of 1.35. Microsoft Corporation has a 52 week low of $344.79 and a 52 week high of $555.45. The firm has a market cap of $3.85 trillion, a price-to-earnings ratio of 37.97, a P/E/G ratio of 2.22 and a beta of 1.04. The firm’s 50-day simple moving average is $511.71 and its 200 day simple moving average is $457.92.
Microsoft Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, November 20th. This is a boost from Microsoft’s previous quarterly dividend of $0.83. Microsoft’s dividend payout ratio is presently 24.34%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on MSFT shares. Wedbush raised their target price on shares of Microsoft from $600.00 to $625.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Truist Financial increased their price objective on shares of Microsoft from $650.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. BMO Capital Markets increased their price objective on shares of Microsoft from $550.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Sanford C. Bernstein lifted their target price on shares of Microsoft from $540.00 to $637.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, Raymond James Financial raised their price target on shares of Microsoft from $490.00 to $570.00 and gave the company an “outperform” rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Microsoft has an average rating of “Moderate Buy” and an average price target of $612.54.
Check Out Our Latest Stock Analysis on Microsoft
Insiders Place Their Bets
In other news, CEO Satya Nadella sold 149,205 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $504.78, for a total value of $75,315,699.90. Following the completion of the sale, the chief executive officer owned 790,852 shares in the company, valued at $399,206,272.56. This represents a 15.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Takeshi Numoto sold 4,850 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $527.32, for a total transaction of $2,557,502.00. Following the transaction, the executive vice president owned 39,111 shares of the company’s stock, valued at approximately $20,624,012.52. The trade was a 11.03% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.
Microsoft Company 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.
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