Spinnaker Trust Reduces Stock Holdings in Microsoft Corporation (NASDAQ:MSFT)

Spinnaker Trust reduced its stake in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,936 shares of the software giant's stock after selling 3,312 shares during the quarter. Microsoft accounts for 2.8% of Spinnaker Trust's holdings, making the stock its 9th largest position. Spinnaker Trust's holdings in Microsoft were worth $42,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of MSFT. Fosun International Ltd boosted its stake in Microsoft by 0.3% during the first quarter. Fosun International Ltd now owns 6,633 shares of the software giant's stock worth $2,490,000 after buying an additional 23 shares during the last quarter. Retirement Financial Solutions LLC increased its holdings in Microsoft by 2.3% during the 4th quarter. Retirement Financial Solutions LLC now owns 1,050 shares of the software giant's stock worth $443,000 after purchasing an additional 24 shares during the period. Kuhn & Co Investment Counsel increased its holdings in Microsoft by 0.8% during the 4th quarter. Kuhn & Co Investment Counsel now owns 3,286 shares of the software giant's stock worth $1,385,000 after purchasing an additional 25 shares during the period. Alliance Wealth Management Group increased its holdings in Microsoft by 0.4% during the 4th quarter. Alliance Wealth Management Group now owns 5,617 shares of the software giant's stock worth $2,368,000 after purchasing an additional 25 shares during the period. Finally, Guidance Point Advisors LLC increased its holdings in Microsoft by 0.6% during the 4th quarter. Guidance Point Advisors LLC now owns 4,294 shares of the software giant's stock worth $1,811,000 after purchasing an additional 25 shares during the period. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MSFT has been the topic of a number of recent analyst reports. Citigroup increased their price objective on Microsoft from $605.00 to $613.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Scotiabank increased their price objective on Microsoft from $500.00 to $650.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Wall Street Zen upgraded Microsoft from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Bank of America increased their price objective on Microsoft from $585.00 to $640.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, BMO Capital Markets upped their target price on Microsoft from $550.00 to $650.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. According to data from MarketBeat, Microsoft presently has a consensus rating of "Moderate Buy" and a consensus price target of $609.86.

Microsoft Stock Down 0.4%

Shares of MSFT traded down $2.31 during midday trading on Friday, reaching $520.17. 25,185,972 shares of the company were exchanged, compared to its average volume of 20,739,252. The stock has a 50-day moving average price of $502.60 and a 200-day moving average price of $441.02. The company has a market cap of $3.87 trillion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 2.29 and a beta of 1.06. Microsoft Corporation has a 1-year low of $344.79 and a 1-year high of $555.45. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.12.

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, topping analysts' consensus estimates of $3.35 by $0.30. The company had revenue of $76.44 billion for the quarter, compared to analysts' expectations of $73.79 billion. Microsoft had a return on equity of 32.44% and a net margin of 36.15%. The firm's quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. Research analysts expect that Microsoft Corporation will post 13.08 earnings per share for the current year.

Microsoft Dividend Announcement

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

Insider Transactions at Microsoft

In related news, EVP Kathleen T. Hogan sold 21,500 shares of the business's stock in a transaction dated 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Takeshi Numoto sold 4,850 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $527.32, for a total value of $2,557,502.00. Following the completion of the sale, the executive vice president directly owned 39,111 shares of the company's stock, valued at approximately $20,624,012.52. This represents a 11.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,350 shares of company stock valued at $21,493,447. 0.03% of the stock is currently owned by 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.