Piscataqua Savings Bank trimmed its holdings in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,999 shares of the software giant’s stock after selling 358 shares during the period. Microsoft comprises approximately 9.1% of Piscataqua Savings Bank’s holdings, making the stock its biggest holding. Piscataqua Savings Bank’s holdings in Microsoft were worth $10,942,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. CWC Advisors LLC. increased its stake in shares of Microsoft by 3.1% during the 2nd quarter. CWC Advisors LLC. now owns 6,678 shares of the software giant’s stock worth $3,322,000 after purchasing an additional 201 shares in the last quarter. Legacy Financial Strategies LLC increased its stake in shares of Microsoft by 7.4% during the 2nd quarter. Legacy Financial Strategies LLC now owns 9,336 shares of the software giant’s stock worth $4,644,000 after purchasing an additional 644 shares in the last quarter. Western Pacific Wealth Management LP increased its stake in shares of Microsoft by 2.7% during the 2nd quarter. Western Pacific Wealth Management LP now owns 13,021 shares of the software giant’s stock worth $6,477,000 after purchasing an additional 341 shares in the last quarter. Kozak & Associates Inc. increased its stake in shares of Microsoft by 2.0% during the 2nd quarter. Kozak & Associates Inc. now owns 53,670 shares of the software giant’s stock worth $27,023,000 after purchasing an additional 1,041 shares in the last quarter. Finally, Charter Oak Capital Management LLC increased its stake in shares of Microsoft by 4.3% during the 2nd quarter. Charter Oak Capital Management LLC now owns 10,639 shares of the software giant’s stock worth $5,292,000 after purchasing an additional 439 shares in the last quarter. 71.13% of the stock is owned by hedge funds and other institutional investors.
Microsoft Stock Up 0.9%
Shares of Microsoft stock opened at $511.46 on Friday. The company has a fifty day moving average price of $512.03 and a 200 day moving average price of $462.60. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.12. Microsoft Corporation has a twelve month low of $344.79 and a twelve month high of $555.45. The stock has a market cap of $3.80 trillion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 2.23 and a beta of 1.04.
Microsoft Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be paid a $0.91 dividend. This is a boost from Microsoft’s previous quarterly dividend of $0.83. The ex-dividend date is Thursday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.7%. Microsoft’s dividend payout ratio (DPR) is currently 24.34%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on MSFT. BMO Capital Markets raised their price objective on shares of Microsoft from $550.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. KeyCorp raised shares of Microsoft from a “sector weight” rating to an “overweight” rating and set a $630.00 target price for the company in a research note on Thursday, July 31st. Loop Capital lifted their target price on shares of Microsoft from $550.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Wedbush lifted their target price on shares of Microsoft from $600.00 to $625.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, Morgan Stanley lifted their target price on shares of Microsoft from $582.00 to $625.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $614.45.
Read Our Latest Stock Report on Microsoft
Insider Transactions at Microsoft
In related news, CEO Satya Nadella sold 149,205 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $504.78, for a total transaction of $75,315,699.90. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $527.32, for a total transaction of $2,557,502.00. Following the sale, the executive vice president owned 39,111 shares in the company, valued at approximately $20,624,012.52. This trade represents a 11.03% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company’s stock.
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.
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