Equitable Trust Co. Sells 4,873 Shares of Microsoft Co. (NASDAQ:MSFT)

Equitable Trust Co. cut its stake in Microsoft Co. (NASDAQ:MSFT) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,085 shares of the software giant’s stock after selling 4,873 shares during the quarter. Microsoft makes up 3.8% of Equitable Trust Co.’s portfolio, making the stock its 2nd biggest holding. Equitable Trust Co.’s holdings in Microsoft were worth $55,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Microsoft by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 667,987,038 shares of the software giant’s stock valued at $281,035,506,000 after purchasing an additional 3,078,099 shares in the last quarter. Capital International Investors raised its holdings in Microsoft by 1.0% during the first quarter. Capital International Investors now owns 83,571,070 shares of the software giant’s stock valued at $35,160,020,000 after buying an additional 842,884 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Microsoft by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 25,381,692 shares of the software giant’s stock worth $9,544,532,000 after buying an additional 403,409 shares during the last quarter. Swedbank AB increased its holdings in shares of Microsoft by 2.7% during the 2nd quarter. Swedbank AB now owns 13,640,068 shares of the software giant’s stock valued at $6,096,428,000 after acquiring an additional 360,171 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Microsoft by 15.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,931,721 shares of the software giant’s stock valued at $5,019,942,000 after acquiring an additional 1,613,050 shares in the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Microsoft Stock Up 0.7 %

NASDAQ:MSFT opened at $419.14 on Tuesday. The firm has a market capitalization of $3.12 trillion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.16. Microsoft Co. has a twelve month low of $324.39 and a twelve month high of $468.35. The stock’s 50 day moving average price is $418.40 and its two-hundred day moving average price is $424.67.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings data on Tuesday, July 30th. The software giant reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.05. Microsoft had a net margin of 35.96% and a return on equity of 35.95%. The firm had revenue of $64.73 billion during the quarter, compared to analysts’ expectations of $64.38 billion. During the same period in the previous year, the business posted $2.69 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts expect that Microsoft Co. will post 13.02 earnings per share for the current fiscal year.

Microsoft Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 annualized dividend and a yield of 0.79%. Microsoft’s dividend payout ratio is presently 28.74%.

Microsoft announced that its board has approved a share repurchase program on Monday, September 16th that authorizes the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization authorizes the software giant to buy up to 1.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MSFT has been the subject of a number of recent analyst reports. Citigroup decreased their target price on Microsoft from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley reiterated an “overweight” rating and issued a $506.00 target price on shares of Microsoft in a research note on Tuesday, September 17th. Bank of America boosted their target price on shares of Microsoft from $480.00 to $510.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. DA Davidson downgraded Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 target price for the company. in a research note on Monday, September 23rd. Finally, BMO Capital Markets increased their price objective on Microsoft from $465.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Three analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $493.47.

Insider Activity at Microsoft

In other Microsoft news, CEO Satya Nadella sold 78,353 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $408.63, for a total value of $32,017,386.39. Following the completion of the transaction, the chief executive officer now directly owns 864,327 shares in the company, valued at approximately $353,189,942.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Microsoft news, CFO Amy Hood sold 38,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $410.55, for a total value of $15,600,900.00. Following the transaction, the chief financial officer now directly owns 496,369 shares of the company’s stock, valued at approximately $203,784,292.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Satya Nadella sold 78,353 shares of Microsoft stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $408.63, for a total value of $32,017,386.39. Following the transaction, the chief executive officer now directly owns 864,327 shares in the company, valued at approximately $353,189,942.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 190,629 shares of company stock valued at $77,916,485 over the last ninety days. 0.03% of the stock is owned by corporate insiders.

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.