OLD National Bancorp IN Decreases Holdings in Microsoft Corporation (NASDAQ:MSFT)

OLD National Bancorp IN lessened its holdings in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) by 4.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 308,276 shares of the software giant's stock after selling 13,180 shares during the quarter. Microsoft comprises approximately 3.0% of OLD National Bancorp IN's holdings, making the stock its 4th largest position. OLD National Bancorp IN's holdings in Microsoft were worth $115,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Microsoft by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 684,071,705 shares of the software giant's stock worth $288,336,224,000 after acquiring an additional 10,431,988 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Microsoft by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 168,128,024 shares of the software giant's stock valued at $70,720,874,000 after purchasing an additional 3,103,212 shares during the last quarter. Norges Bank purchased a new stake in shares of Microsoft during the fourth quarter valued at $44,343,058,000. Northern Trust Corp lifted its holdings in shares of Microsoft by 16.1% during the fourth quarter. Northern Trust Corp now owns 83,787,746 shares of the software giant's stock valued at $35,316,535,000 after purchasing an additional 11,600,470 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Microsoft by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,961,337 shares of the software giant's stock valued at $25,273,704,000 after purchasing an additional 5,370,546 shares during the last quarter. Institutional investors own 71.13% of the company's stock.

Microsoft Stock Performance

Microsoft stock traded up $1.84 during trading hours on Friday, hitting $503.32. The stock had a trading volume of 16,454,184 shares, compared to its average volume of 21,657,917. The company has a 50-day moving average of $469.28 and a two-hundred day moving average of $425.41. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 0.12. The company has a market cap of $3.74 trillion, a PE ratio of 38.90, a price-to-earnings-growth ratio of 2.28 and a beta of 1.04. Microsoft Corporation has a fifty-two week low of $344.79 and a fifty-two week high of $506.78.

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

Microsoft Announces Dividend

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 given a $0.83 dividend. The ex-dividend date is Thursday, August 21st. This represents a $3.32 dividend on an annualized basis and a yield of 0.66%. Microsoft's dividend payout ratio (DPR) is presently 25.66%.

Insider Activity

In related news, EVP Kathleen T. Hogan sold 21,500 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 134,888 shares in the company, valued at $61,208,127.76. This represents a 13.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bradford L. Smith sold 6,000 shares of Microsoft stock in a transaction on Monday, May 5th. The shares were sold at an average price of $433.17, for a total value of $2,599,020.00. Following the completion of the transaction, the insider owned 471,036 shares of the company's stock, valued at approximately $204,038,664.12. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 135,743 shares of company stock valued at $60,224,683. Corporate insiders own 0.03% of the company's stock.

Analysts Set New Price Targets

MSFT has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their target price on Microsoft from $465.00 to $475.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Barclays lifted their price target on Microsoft from $430.00 to $494.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating on shares of Microsoft in a report on Thursday, May 1st. Bank of America decreased their price target on Microsoft from $510.00 to $480.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Wall Street Zen downgraded Microsoft from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. Four research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $534.14.

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.