Union Savings Bank Reduces Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Union Savings Bank cut its stake in Microsoft Co. (NASDAQ:MSFT) by 3.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 17,168 shares of the software giant’s stock after selling 601 shares during the quarter. Microsoft makes up about 4.0% of Union Savings Bank’s holdings, making the stock its 5th biggest holding. Union Savings Bank’s holdings in Microsoft were worth $7,673,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its holdings in Microsoft by 169.2% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after buying an additional 44 shares during the period. Richardson Capital Management LLC boosted its holdings in Microsoft by 1,290.0% during the first quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after purchasing an additional 129 shares during the last quarter. Innealta Capital LLC acquired a new stake in Microsoft in the 2nd quarter valued at $75,000. Bellevue Group AG boosted its stake in shares of Microsoft by 47.5% during the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after buying an additional 58 shares during the last quarter. Finally, Horizon Financial Services LLC acquired a new stake in shares of Microsoft in the first quarter valued at about $80,000. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Satya Nadella sold 14,398 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $417.41, for a total transaction of $6,009,869.18. Following the transaction, the chief executive officer now owns 786,933 shares in the company, valued at $328,473,703.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Amy Hood sold 38,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $410.55, for a total transaction of $15,600,900.00. Following the sale, the chief financial officer now directly owns 496,369 shares of the company’s stock, valued at approximately $203,784,292.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Satya Nadella sold 14,398 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $417.41, for a total value of $6,009,869.18. Following the transaction, the chief executive officer now directly owns 786,933 shares in the company, valued at approximately $328,473,703.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,629 shares of company stock valued at $77,916,485. Company insiders own 0.03% of the company’s stock.

Microsoft Stock Performance

NASDAQ:MSFT opened at $419.14 on Tuesday. Microsoft Co. has a 52-week low of $324.39 and a 52-week high of $468.35. The firm has a market cap of $3.12 trillion, a price-to-earnings ratio of 36.29, a PEG ratio of 2.22 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.27 and a current ratio of 1.27. The business’s fifty day moving average is $418.40 and its 200 day moving average is $424.67.

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

Microsoft announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 16th that allows the company to buyback $60.00 billion in shares. This buyback authorization allows the software giant to purchase up to 1.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Microsoft Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MSFT shares. Wells Fargo & Company upped their price objective on Microsoft from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley restated an “overweight” rating and issued a $506.00 price objective on shares of Microsoft in a research note on Tuesday, September 17th. Citigroup reduced their target price on Microsoft from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. TD Cowen lifted their price objective on shares of Microsoft from $470.00 to $495.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, The Goldman Sachs Group dropped their price objective on shares of Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $493.47.

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.