Independence Bank of Kentucky Has $28.48 Million Stake in Microsoft Co. (NASDAQ:MSFT)

Independence Bank of Kentucky boosted its position in Microsoft Co. (NASDAQ:MSFT - Free Report) by 51.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,569 shares of the software giant's stock after purchasing an additional 22,817 shares during the period. Microsoft comprises 4.4% of Independence Bank of Kentucky's portfolio, making the stock its 3rd biggest holding. Independence Bank of Kentucky's holdings in Microsoft were worth $28,480,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Net Worth Advisory Group purchased a new position in Microsoft during the third quarter valued at $2,645,000. Oak Ridge Investments LLC lifted its position in shares of Microsoft by 7.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 263,534 shares of the software giant's stock valued at $113,399,000 after buying an additional 18,544 shares in the last quarter. Focus Financial Network Inc. grew its stake in shares of Microsoft by 2.0% during the 3rd quarter. Focus Financial Network Inc. now owns 76,296 shares of the software giant's stock valued at $32,830,000 after acquiring an additional 1,489 shares during the period. Campbell Wealth Management purchased a new stake in Microsoft in the 3rd quarter worth approximately $3,314,000. Finally, Evernest Financial Advisors LLC raised its stake in Microsoft by 389.2% during the 3rd quarter. Evernest Financial Advisors LLC now owns 53,770 shares of the software giant's stock worth $23,137,000 after acquiring an additional 42,778 shares during the period. 71.13% of the stock is currently owned by institutional investors.

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Microsoft Trading Down 3.0 %

NASDAQ MSFT traded down $11.78 on Friday, hitting $378.80. 21,606,792 shares of the stock were exchanged, compared to its average volume of 20,523,498. Microsoft Co. has a 52-week low of $376.91 and a 52-week high of $468.35. The firm has a market capitalization of $2.82 trillion, a P/E ratio of 30.50, a P/E/G ratio of 2.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.34 and a current ratio of 1.35. The stock has a fifty day moving average price of $405.52 and a two-hundred day moving average price of $419.06.

Microsoft (NASDAQ:MSFT - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The software giant reported $3.23 EPS for the quarter, topping analysts' consensus estimates of $3.15 by $0.08. Microsoft had a net margin of 35.43% and a return on equity of 33.36%. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Research analysts forecast that Microsoft Co. will post 13.08 EPS for the current fiscal year.

Microsoft Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.32 annualized dividend and a dividend yield of 0.88%. Microsoft's payout ratio is 26.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MSFT shares. Loop Capital upped their price target on shares of Microsoft from $500.00 to $550.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. Tigress Financial increased their price target on Microsoft from $550.00 to $595.00 and gave the stock a "buy" rating in a research note on Thursday, March 20th. Mizuho decreased their price target on Microsoft from $510.00 to $500.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Guggenheim reaffirmed a "neutral" rating on shares of Microsoft in a research note on Friday, January 24th. Finally, StockNews.com downgraded Microsoft from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat, Microsoft has an average rating of "Moderate Buy" and an average price target of $510.59.

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.