Coastline Trust Co Cuts Holdings in Microsoft Co. (NASDAQ:MSFT)

Coastline Trust Co lessened its stake in Microsoft Co. (NASDAQ:MSFT - Free Report) by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,313 shares of the software giant's stock after selling 7,725 shares during the quarter. Microsoft comprises 5.0% of Coastline Trust Co's investment portfolio, making the stock its 3rd biggest position. Coastline Trust Co's holdings in Microsoft were worth $42,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Net Worth Advisory Group bought a new position in Microsoft in the third quarter valued at about $2,645,000. Oak Ridge Investments LLC grew its holdings in shares of Microsoft by 7.6% during the third quarter. Oak Ridge Investments LLC now owns 263,534 shares of the software giant's stock worth $113,399,000 after purchasing an additional 18,544 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Microsoft by 1.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,975,200 shares of the software giant's stock worth $882,816,000 after purchasing an additional 31,401 shares during the last quarter. Jacobs & Co. CA grew its holdings in shares of Microsoft by 0.9% during the third quarter. Jacobs & Co. CA now owns 96,021 shares of the software giant's stock worth $41,318,000 after purchasing an additional 880 shares during the last quarter. Finally, Focus Financial Network Inc. grew its holdings in shares of Microsoft by 2.0% during the third quarter. Focus Financial Network Inc. now owns 76,296 shares of the software giant's stock worth $32,830,000 after purchasing an additional 1,489 shares during the last quarter. Institutional investors and hedge funds own 71.13% of the company's stock.

Microsoft Price Performance

MSFT traded down $0.53 during trading on Tuesday, reaching $428.50. 25,848,817 shares of the company were exchanged, compared to its average volume of 19,069,188. The company's 50-day moving average is $429.54 and its two-hundred day moving average is $425.92. The company has a market cap of $3.19 trillion, a price-to-earnings ratio of 35.35, a P/E/G ratio of 2.28 and a beta of 0.90. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 0.15. Microsoft Co. has a 12-month low of $385.58 and a 12-month high of $468.35.

Microsoft (NASDAQ:MSFT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.20. The business had revenue of $65.59 billion for the quarter, compared to analysts' expectations of $64.57 billion. Microsoft had a return on equity of 34.56% and a net margin of 35.61%. The firm's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.99 EPS. Research analysts forecast that Microsoft Co. will post 12.92 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.32 annualized dividend and a dividend yield of 0.77%. Microsoft's payout ratio is currently 27.39%.

Insider Buying and Selling at Microsoft

In related news, EVP Christopher David Young sold 7,200 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total transaction of $3,050,352.00. Following the transaction, the executive vice president now directly owns 103,366 shares in the company, valued at $43,792,039.56. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Takeshi Numoto sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $414.72, for a total value of $414,720.00. Following the transaction, the chief marketing officer now owns 57,511 shares in the company, valued at approximately $23,850,961.92. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,200 shares of company stock valued at $17,383,892 in the last 90 days. Corporate insiders own 0.03% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MSFT shares. JPMorgan Chase & Co. reduced their price target on Microsoft from $470.00 to $465.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Oppenheimer cut Microsoft from an "outperform" rating to a "market perform" rating in a report on Tuesday, October 8th. StockNews.com cut Microsoft from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. DA Davidson cut Microsoft from a "buy" rating to a "neutral" rating and set a $475.00 target price on the stock. in a report on Monday, September 23rd. Finally, Mizuho upped their target price on Microsoft from $480.00 to $510.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $512.93.

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.