Microsoft Co. (NASDAQ:MSFT) Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. lessened its holdings in shares of Microsoft Co. (NASDAQ:MSFT - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,332 shares of the software giant's stock after selling 2,088 shares during the quarter. Microsoft makes up about 5.0% of Chemung Canal Trust Co.'s investment portfolio, making the stock its 2nd biggest position. Chemung Canal Trust Co.'s holdings in Microsoft were worth $23,744,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Christopher J. Hasenberg Inc increased its stake in shares of Microsoft by 35.7% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 95 shares of the software giant's stock valued at $39,000 after acquiring an additional 25 shares during the last quarter. Quarry LP acquired a new stake in shares of Microsoft in the second quarter worth approximately $45,000. IFS Advisors LLC grew its holdings in Microsoft by 53.8% in the fourth quarter. IFS Advisors LLC now owns 100 shares of the software giant's stock valued at $42,000 after purchasing an additional 35 shares during the period. Avondale Wealth Management increased its position in Microsoft by 144.4% during the fourth quarter. Avondale Wealth Management now owns 110 shares of the software giant's stock worth $46,000 after purchasing an additional 65 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Microsoft during the third quarter worth approximately $62,000. Institutional investors and hedge funds own 71.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MSFT shares. Piper Sandler restated an "overweight" rating and set a $520.00 price objective on shares of Microsoft in a report on Monday, January 27th. Loop Capital upped their price target on Microsoft from $500.00 to $550.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Stifel Nicolaus reduced their price objective on Microsoft from $515.00 to $475.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and set a $509.00 target price on shares of Microsoft in a research report on Wednesday, January 29th. Finally, DA Davidson upgraded shares of Microsoft from a "neutral" rating to a "buy" rating and raised their price target for the company from $425.00 to $450.00 in a report on Thursday. Three research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $510.43.

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Microsoft Trading Down 1.2 %

Shares of NASDAQ:MSFT opened at $378.77 on Friday. The company has a 50 day moving average of $413.12 and a 200-day moving average of $420.77. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.13. The firm has a market cap 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. Microsoft Co. has a twelve month low of $376.91 and a twelve month high of $468.35.

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

Microsoft Announces Dividend

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

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.

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