Mechanics Bank Trust Department Boosts Stock Holdings in Microsoft Corporation (NASDAQ:MSFT)

Mechanics Bank Trust Department lifted its stake in Microsoft Corporation (NASDAQ:MSFT - Free Report) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,272 shares of the software giant's stock after purchasing an additional 5,646 shares during the period. Microsoft comprises about 4.1% of Mechanics Bank Trust Department's investment portfolio, making the stock its 3rd largest position. Mechanics Bank Trust Department's holdings in Microsoft were worth $30,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ball & Co Wealth Management Inc. purchased a new position in Microsoft during the 4th quarter worth approximately $31,000. Fiduciary Advisors Inc. purchased a new stake in Microsoft in the 4th quarter worth $38,000. LSV Asset Management purchased a new stake in Microsoft in the 4th quarter worth $44,000. Fairway Wealth LLC acquired a new stake in Microsoft during the 4th quarter worth $62,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Microsoft during the 4th quarter worth $120,000. 71.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Microsoft

In related news, EVP Judson Althoff sold 16,000 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $458.18, for a total transaction of $7,330,880.00. Following the completion of the sale, the executive vice president now owns 98,010 shares of the company's stock, valued at $44,906,221.80. This represents a 14.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bradford L. Smith sold 75,000 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $436.05, for a total transaction of $32,703,750.00. Following the sale, the insider now directly owns 476,999 shares of the company's stock, valued at $207,995,413.95. This represents a 13.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,743 shares of company stock valued at $60,224,683. 0.03% of the stock is currently owned by corporate insiders.

Microsoft Stock Down 0.3%

Shares of NASDAQ:MSFT opened at $495.94 on Friday. Microsoft Corporation has a one year low of $344.79 and a one year high of $499.30. The company has a 50 day moving average of $449.47 and a 200-day moving average of $422.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.37 and a quick ratio of 1.36. The stock has a market cap of $3.69 trillion, a price-to-earnings ratio of 38.33, a P/E/G ratio of 2.52 and a beta of 1.03.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The software giant reported $3.46 EPS 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 company had revenue of $70.07 billion during the quarter, compared to analysts' expectations of $68.54 billion. During the same quarter in the previous year, the company earned $2.94 EPS. Microsoft's revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts forecast that Microsoft Corporation will post 13.08 earnings per share for the current year.

Microsoft Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Thursday, August 21st. Microsoft's payout ratio is currently 25.66%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Microsoft from $475.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Westpark Capital reaffirmed a "hold" rating on shares of Microsoft in a research report on Thursday, May 1st. Scotiabank boosted their price target on shares of Microsoft from $470.00 to $500.00 and gave the stock a "sector outperform" rating in a research note on Thursday, May 1st. Needham & Company LLC restated a "buy" rating on shares of Microsoft in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Microsoft from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Four investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $521.14.

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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