Mattern Capital Management LLC Sells 1,500 Shares of Microsoft Corporation (NASDAQ:MSFT)

Mattern Capital Management LLC trimmed its stake in Microsoft Corporation (NASDAQ:MSFT - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,432 shares of the software giant's stock after selling 1,500 shares during the period. Microsoft comprises approximately 1.8% of Mattern Capital Management LLC's investment portfolio, making the stock its 3rd biggest position. Mattern Capital Management LLC's holdings in Microsoft were worth $14,051,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ball & Co Wealth Management Inc. bought a new stake in shares of Microsoft during the 4th quarter worth $31,000. Newton One Investments LLC raised its stake 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 valued at $28,000 after acquiring an additional 30 shares during the last quarter. LSV Asset Management bought a new position in shares of Microsoft during the fourth quarter valued at about $44,000. Fairway Wealth LLC bought a new position in Microsoft in the fourth quarter worth about $62,000. Finally, IFS Advisors LLC increased its stake in shares of Microsoft by 50.0% during the first quarter. IFS Advisors LLC now owns 150 shares of the software giant's stock valued at $57,000 after purchasing an additional 50 shares in the last quarter. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MSFT shares. Cantor Fitzgerald raised their price target on shares of Microsoft from $581.00 to $639.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Westpark Capital reiterated a "hold" rating on shares of Microsoft in a research note on Thursday, July 31st. Bank of America lifted their price target on shares of Microsoft from $585.00 to $640.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lifted their target price on shares of Microsoft from $525.00 to $640.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, DA Davidson boosted their price target on shares of Microsoft from $600.00 to $650.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $609.86.

Microsoft Stock Down 0.5%

Shares of NASDAQ MSFT traded down $2.81 during mid-day trading on Wednesday, reaching $524.94. 21,298,640 shares of the company's stock were exchanged, compared to its average volume of 22,431,307. The firm has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 38.49, a PEG ratio of 2.34 and a beta of 1.06. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $492.99 and a 200 day simple moving average of $436.40. 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 posted its quarterly earnings results on Wednesday, July 30th. The software giant reported $3.65 earnings per share for the quarter, beating analysts' consensus estimates of $3.35 by $0.30. Microsoft had a return on equity of 32.44% and a net margin of 36.15%. The firm had revenue of $76.44 billion during the quarter, compared to the consensus estimate of $73.79 billion. During the same period last year, the company earned $2.95 earnings per share. The business's revenue was up 18.1% compared to the same quarter last year. As a group, equities analysts expect that Microsoft Corporation will post 13.08 EPS for the current fiscal year.

Microsoft Dividend Announcement

The company 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 dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $3.32 annualized dividend and a yield of 0.6%. Microsoft's payout ratio is 24.34%.

Insider Transactions at Microsoft

In other news, EVP Kathleen T. Hogan sold 21,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $453.77, for a total value of $9,756,055.00. Following the sale, the executive vice president directly owned 134,888 shares of the company's stock, valued at $61,208,127.76. The trade was a 13.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Judson Althoff sold 16,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $458.18, for a total value of $7,330,880.00. Following the transaction, the executive vice president directly owned 98,010 shares in the company, valued at $44,906,221.80. The trade was a 14.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,743 shares of company stock worth $24,921,913. 0.03% of the stock is currently owned by company insiders.

Microsoft Company 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.