Independence Bank of Kentucky Has $26.81 Million Stake in Microsoft Corporation (NASDAQ:MSFT)

Independence Bank of Kentucky raised its position in Microsoft Corporation (NASDAQ:MSFT - Free Report) by 5.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 71,431 shares of the software giant's stock after acquiring an additional 3,862 shares during the period. Microsoft comprises 4.2% of Independence Bank of Kentucky's portfolio, making the stock its 2nd biggest position. Independence Bank of Kentucky's holdings in Microsoft were worth $26,814,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Adamsbrown Wealth Consultants LLC lifted its stake in Microsoft by 2.2% in the 4th quarter. Adamsbrown Wealth Consultants LLC now owns 5,967 shares of the software giant's stock valued at $2,515,000 after acquiring an additional 130 shares in the last quarter. Mcdaniel Terry & Co. increased its position in shares of Microsoft by 6.1% during the 4th quarter. Mcdaniel Terry & Co. now owns 315,594 shares of the software giant's stock worth $133,023,000 after purchasing an additional 18,052 shares during the last quarter. 1900 Wealth Management LLC increased its position in shares of Microsoft by 3.0% during the 4th quarter. 1900 Wealth Management LLC now owns 10,140 shares of the software giant's stock worth $4,274,000 after purchasing an additional 294 shares during the last quarter. Strategic Financial Services Inc. increased its position in shares of Microsoft by 7.8% during the 4th quarter. Strategic Financial Services Inc. now owns 17,426 shares of the software giant's stock worth $7,345,000 after purchasing an additional 1,268 shares during the last quarter. Finally, Elevate Wealth Advisory Inc. increased its position in shares of Microsoft by 147.9% during the 4th quarter. Elevate Wealth Advisory Inc. now owns 1,748 shares of the software giant's stock worth $737,000 after purchasing an additional 1,043 shares during the last quarter. Institutional investors own 71.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America lowered their price target on Microsoft from $510.00 to $480.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Cantor Fitzgerald boosted their price target on Microsoft from $502.00 to $512.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. DA Davidson boosted their price target on Microsoft from $500.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company boosted their price target on Microsoft from $565.00 to $585.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Finally, TD Securities boosted their price target on Microsoft from $475.00 to $490.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $527.31.

Insider Transactions at Microsoft

In other news, EVP Amy Coleman sold 13,243 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $452.01, for a total value of $5,985,968.43. Following the completion of the transaction, the executive vice president owned 43,100 shares of the company's stock, valued at approximately $19,481,631. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathleen T. Hogan sold 21,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $453.77, for a total transaction of $9,756,055.00. Following the completion of the transaction, the executive vice president directly owned 134,888 shares of the company's stock, valued at $61,208,127.76. This trade represents a 13.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,743 shares of company stock valued at $60,224,683. 0.03% of the stock is owned by company insiders.

Microsoft Stock Performance

Shares of MSFT stock traded up $6.89 on Wednesday, hitting $503.51. The company's stock had a trading volume of 18,638,093 shares, compared to its average volume of 21,685,462. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.36 and a current ratio of 1.37. The stock's 50 day moving average is $467.76 and its 200-day moving average is $424.96. Microsoft Corporation has a fifty-two week low of $344.79 and a fifty-two week high of $506.78. The company has a market capitalization of $3.74 trillion, a PE ratio of 38.91, a PEG ratio of 2.25 and a beta of 1.04.

Microsoft (NASDAQ:MSFT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The software giant reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.24. Microsoft had a net margin of 35.79% and a return on equity of 32.74%. The business had revenue of $70.07 billion during the quarter, compared to analysts' expectations of $68.54 billion. During the same quarter in the prior year, the business posted $2.94 earnings per share. Microsoft's revenue was up 13.3% compared to the same quarter last year. Equities research analysts expect that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a $0.83 dividend. The ex-dividend date is Thursday, August 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.66%. Microsoft's dividend payout ratio (DPR) is currently 25.66%.

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.