Rockland Trust Co. Buys 1,686 Shares of Microsoft Corporation $MSFT

by · The Cerbat Gem

Rockland Trust Co. raised its position in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 294,841 shares of the software giant’s stock after acquiring an additional 1,686 shares during the quarter. Microsoft makes up approximately 5.8% of Rockland Trust Co.’s holdings, making the stock its largest position. Rockland Trust Co.’s holdings in Microsoft were worth $151,224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MSFT. Bank of America Corp DE bought a new position in Microsoft in the second quarter worth $27,338,370,000. Legal & General Group Plc bought a new stake in shares of Microsoft during the 2nd quarter valued at $18,306,443,000. Jupiter Topco LLC bought a new stake in shares of Microsoft during the 2nd quarter valued at $6,928,664,000. Canada Pension Plan Investment Board purchased a new stake in shares of Microsoft in the 2nd quarter worth about $5,653,812,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Microsoft in the 2nd quarter worth about $4,000,706,000. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MSFT. Sanford C. Bernstein lifted their price target on shares of Microsoft from $662.00 to $722.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. Needham & Company LLC initiated coverage on shares of Microsoft in a report on Wednesday, September 23rd. They issued a “buy” rating on the stock. Stifel Nicolaus raised their target price on shares of Microsoft from $575.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Raymond James Financial set a $650.00 target price on shares of Microsoft in a report on Thursday, October 29th. Finally, Argus dropped their price target on Microsoft from $620.00 to $510.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $609.54.

Check Out Our Latest Stock Analysis on Microsoft

Microsoft News Summary

Here are the key news stories impacting Microsoft this week:

Insider Buying and Selling

In related news, CEO Satya Nadella sold 86,525 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $501.46, for a total value of $43,388,826.50. Following the completion of the transaction, the chief executive officer directly owned 486,763 shares in the company, valued at $244,092,173.98. The trade was a 15.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amy Hood sold 7,305 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $545.42, for a total transaction of $3,984,293.10. Following the completion of the transaction, the executive vice president owned 555,396 shares of the company’s stock, valued at approximately $302,924,086.32. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 135,504 shares of company stock worth $68,138,024. Corporate insiders own 0.03% of the company’s stock.

Microsoft Stock Down 1.0%

Microsoft stock traded down $5.32 during mid-day trading on Friday, reaching $530.61. The stock had a trading volume of 26,926,992 shares, compared to its average volume of 22,422,492. The company has a market capitalization of $3.94 trillion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.56 and a beta of 1.05. The company has a 50-day moving average price of $516.65 and a two-hundred day moving average price of $440.18. Microsoft Corporation has a one year low of $349.20 and a one year high of $559.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.22 and a quick ratio of 1.21.

Microsoft (NASDAQ:MSFT – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The software giant reported $4.89 EPS for the quarter, beating the consensus estimate of $4.72 by $0.17. The company had revenue of $92.28 billion for the quarter, compared to the consensus estimate of $90.62 billion. Microsoft had a net margin of 41.17% and a return on equity of 31.28%. Microsoft’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.13 EPS. On average, analysts expect that Microsoft Corporation will post 19.89 EPS for the current fiscal year.

Microsoft Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be paid a $0.98 dividend. This is a boost from Microsoft’s previous quarterly dividend of $0.91. This represents a $3.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, November 19th. Microsoft’s payout ratio is currently 19.00%.

About Microsoft

(Free Report)

Microsoft Corporation is a global technology company that develops software, cloud services, devices, and digital solutions for consumers, businesses, and public-sector organizations. Founded in 1975 by Bill Gates and Paul Allen, the company is headquartered in Redmond, Washington.

Its products and services include the Windows operating system, Microsoft 365 productivity applications, Azure cloud computing, LinkedIn, GitHub, Surface devices, and Xbox gaming products and services. Microsoft also provides business software, cybersecurity tools, and artificial intelligence technologies.

Microsoft serves customers around the world through its products, online platforms, and network of business partners.

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