Orrstown Financial Services Inc. Sells 1,855 Shares of Microsoft Corporation (NASDAQ:MSFT)

Orrstown Financial Services Inc. cut its holdings in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,284 shares of the software giant's stock after selling 1,855 shares during the quarter. Microsoft comprises 1.3% of Orrstown Financial Services Inc.'s investment portfolio, making the stock its 11th largest holding. Orrstown Financial Services Inc.'s holdings in Microsoft were worth $5,362,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MSFT. Ball & Co Wealth Management Inc. acquired a new position in shares of Microsoft in the 4th quarter valued at $31,000. Fiduciary Advisors Inc. acquired a new position in Microsoft during the fourth quarter valued at approximately $38,000. LSV Asset Management bought a new position in shares of Microsoft in the fourth quarter valued at $44,000. IFS Advisors LLC raised its position in Microsoft by 50.0% during the first quarter. IFS Advisors LLC now owns 150 shares of the software giant's stock worth $57,000 after acquiring an additional 50 shares in the last quarter. Finally, Fairway Wealth LLC acquired a new stake in Microsoft in the fourth quarter valued at $62,000. 71.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MSFT. Benchmark reaffirmed a "buy" rating on shares of Microsoft in a research report on Thursday, May 1st. TD Securities increased their price objective on shares of Microsoft from $475.00 to $490.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Raymond James Financial upped their price target on shares of Microsoft from $480.00 to $490.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Scotiabank boosted their price objective on Microsoft from $470.00 to $500.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 1st. Finally, Barclays increased their target price on Microsoft from $430.00 to $494.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $524.71.

Microsoft Stock Performance

Shares of MSFT stock traded down $1.12 on Monday, hitting $497.72. 13,791,654 shares of the stock were exchanged, compared to its average volume of 21,684,120. The firm has a market capitalization of $3.70 trillion, a PE ratio of 38.46, a P/E/G ratio of 2.26 and a beta of 1.04. Microsoft Corporation has a one year low of $344.79 and a one year high of $500.76. The company has a current ratio of 1.37, a quick ratio of 1.36 and a debt-to-equity ratio of 0.12. The firm's 50 day moving average is $461.41 and its two-hundred day moving average is $423.48.

Microsoft (NASDAQ:MSFT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The software giant reported $3.46 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $68.54 billion. During the same quarter in the previous year, the firm posted $2.94 earnings per share. The company's quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts expect that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

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

Insider Buying and Selling at Microsoft

In other Microsoft news, EVP Judson Althoff sold 16,000 shares of Microsoft stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $458.18, for a total transaction of $7,330,880.00. Following the completion of the transaction, the executive vice president owned 98,010 shares of the company's stock, valued at $44,906,221.80. The trade was a 14.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradford L. Smith sold 6,000 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $433.17, for a total transaction of $2,599,020.00. Following the completion of the sale, the insider directly owned 471,036 shares in the company, valued at approximately $204,038,664.12. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 135,743 shares of company stock worth $60,224,683 in the last three months. 0.03% of the stock is currently owned by corporate insiders.

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.