CNB Bank Acquires 1,013 Shares of Microsoft Corporation (NASDAQ:MSFT)

CNB Bank lifted its holdings in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,235 shares of the software giant's stock after purchasing an additional 1,013 shares during the quarter. Microsoft comprises about 5.9% of CNB Bank's investment portfolio, making the stock its 2nd biggest position. CNB Bank's holdings in Microsoft were worth $11,725,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Newton One Investments LLC increased its position in shares of Microsoft by 66.7% during the first quarter. Newton One Investments LLC now owns 75 shares of the software giant's stock worth $28,000 after acquiring an additional 30 shares during the last quarter. Ball & Co Wealth Management Inc. purchased a new stake in shares of Microsoft during the fourth quarter worth about $31,000. LSV Asset Management purchased a new stake in shares of Microsoft during the fourth quarter worth about $44,000. IFS Advisors LLC increased its position in shares of Microsoft by 50.0% during the first quarter. IFS Advisors LLC now owns 150 shares of the software giant's stock worth $57,000 after acquiring an additional 50 shares during the last quarter. Finally, Fairway Wealth LLC purchased a new stake in shares of Microsoft during the fourth quarter worth about $62,000. Institutional investors and hedge funds own 71.13% of the company's stock.

Insider Activity at Microsoft

In other Microsoft news, EVP Takeshi Numoto sold 3,000 shares of Microsoft stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $463.00, for a total transaction of $1,389,000.00. Following the completion of the sale, the executive vice president directly owned 43,930 shares in the company, valued at $20,339,590. The trade was a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Amy Coleman sold 13,243 shares of Microsoft stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $452.01, for a total transaction of $5,985,968.43. Following the sale, the executive vice president owned 43,100 shares of the company's stock, valued at approximately $19,481,631. The trade was a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,743 shares of company stock valued at $24,921,913. Company insiders own 0.03% of the company's stock.

Microsoft Price Performance

MSFT opened at $520.84 on Friday. The company has a market capitalization of $3.87 trillion, a price-to-earnings ratio of 38.18, a PEG ratio of 2.30 and a beta of 1.06. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $495.59 and a 200-day moving average price of $437.64. Microsoft Corporation has a twelve month low of $344.79 and a twelve month high of $555.45.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The software giant reported $3.65 EPS for the quarter, beating the consensus estimate of $3.35 by $0.30. The company had revenue of $76.44 billion during the quarter, compared to analysts' expectations of $73.79 billion. Microsoft had a net margin of 36.15% and a return on equity of 32.44%. Microsoft's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.95 earnings per share. Equities analysts expect that Microsoft Corporation will post 13.08 EPS for the current year.

Microsoft Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.83 per share. The ex-dividend date is Thursday, August 21st. This represents a $3.32 annualized dividend and a yield of 0.6%. Microsoft's payout ratio is presently 24.34%.

Analysts Set New Price Targets

Several analysts recently weighed in on MSFT shares. Guggenheim reissued a "neutral" rating on shares of Microsoft in a report on Thursday, May 1st. Wells Fargo & Company reissued an "overweight" rating and issued a $650.00 price objective (up from $600.00) on shares of Microsoft in a report on Thursday, July 31st. The Goldman Sachs Group boosted their price objective on Microsoft from $480.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Oppenheimer boosted their price objective on Microsoft from $600.00 to $630.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Evercore ISI lifted their target price on Microsoft from $515.00 to $545.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Two investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $609.86.

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.

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