1ST Source Bank Has $38.09 Million Stake in Microsoft Co. (NASDAQ:MSFT)

1ST Source Bank trimmed its holdings in Microsoft Co. (NASDAQ:MSFT) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 85,223 shares of the software giant’s stock after selling 900 shares during the quarter. Microsoft makes up about 2.2% of 1ST Source Bank’s holdings, making the stock its 7th largest position. 1ST Source Bank’s holdings in Microsoft were worth $38,090,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MSFT. Christopher J. Hasenberg Inc raised its position in Microsoft by 169.2% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock valued at $31,000 after buying an additional 44 shares during the last quarter. Richardson Capital Management LLC grew its stake in shares of Microsoft by 1,290.0% in the 1st quarter. Richardson Capital Management LLC now owns 139 shares of the software giant’s stock worth $59,000 after acquiring an additional 129 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Microsoft in the second quarter valued at about $75,000. Bellevue Group AG lifted its position in shares of Microsoft by 47.5% during the first quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock valued at $76,000 after purchasing an additional 58 shares in the last quarter. Finally, Horizon Financial Services LLC bought a new stake in Microsoft in the 1st quarter worth about $80,000. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Amy Hood sold 38,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $203,784,292.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Microsoft news, CMO Takeshi Numoto sold 2,500 shares of Microsoft stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $411.04, for a total transaction of $1,027,600.00. Following the completion of the sale, the chief marketing officer now owns 50,000 shares of the company’s stock, valued at $20,552,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $15,600,900.00. Following the transaction, the chief financial officer now owns 496,369 shares in the company, valued at $203,784,292.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 190,629 shares of company stock worth $77,916,485. 0.03% of the stock is currently owned by insiders.

Microsoft Price Performance

Shares of NASDAQ:MSFT opened at $431.95 on Wednesday. Microsoft Co. has a 12 month low of $331.83 and a 12 month high of $468.35. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.21 trillion, a P/E ratio of 36.57, a P/E/G ratio of 2.24 and a beta of 0.90. The company has a 50 day moving average of $420.84 and a 200 day moving average of $424.65.

Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Tuesday, July 30th. The software giant reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.05. The firm had revenue of $64.73 billion for the quarter, compared to analysts’ expectations of $64.38 billion. Microsoft had a net margin of 35.96% and a return on equity of 35.95%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.69 earnings per share. As a group, sell-side analysts forecast that Microsoft Co. will post 13.02 EPS for the current fiscal year.

Microsoft announced that its Board of Directors has initiated a stock buyback program on Monday, September 16th that permits the company to repurchase $60.00 billion in shares. This repurchase authorization permits the software giant to buy up to 1.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

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 $0.83 dividend. 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 yield of 0.77%. The ex-dividend date is Thursday, November 21st. Microsoft’s dividend payout ratio is currently 28.11%.

Analyst Upgrades and Downgrades

MSFT has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and set a $600.00 target price on shares of Microsoft in a research report on Monday. Sanford C. Bernstein reduced their price objective on Microsoft from $501.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Morgan Stanley reiterated an “overweight” rating and set a $506.00 target price on shares of Microsoft in a research note on Tuesday, September 17th. KeyCorp raised their price objective on shares of Microsoft from $490.00 to $505.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, TD Cowen increased their target price on shares of Microsoft from $470.00 to $495.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.97.

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.