Trust Co. of Toledo NA OH Sells 1,067 Shares of Microsoft Co. (NASDAQ:MSFT)

Trust Co. of Toledo NA OH lowered its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 0.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 146,577 shares of the software giant’s stock after selling 1,067 shares during the period. Microsoft makes up approximately 8.5% of Trust Co. of Toledo NA OH’s holdings, making the stock its largest holding. Trust Co. of Toledo NA OH’s holdings in Microsoft were worth $63,072,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Microsoft by 1.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,975,200 shares of the software giant’s stock worth $882,816,000 after buying an additional 31,401 shares during the period. New Harbor Financial Group LLC raised its position in shares of Microsoft by 55.9% during the second quarter. New Harbor Financial Group LLC now owns 1,255 shares of the software giant’s stock worth $561,000 after purchasing an additional 450 shares during the period. Nippon Life Global Investors Americas Inc. lifted its holdings in shares of Microsoft by 2.0% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 430,730 shares of the software giant’s stock worth $192,515,000 after purchasing an additional 8,290 shares in the last quarter. Quest Investment Management LLC grew its position in Microsoft by 3.4% in the 2nd quarter. Quest Investment Management LLC now owns 156,258 shares of the software giant’s stock valued at $69,840,000 after purchasing an additional 5,176 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in Microsoft by 25.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 250,657 shares of the software giant’s stock valued at $112,031,000 after purchasing an additional 51,273 shares in the last quarter. 71.13% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Amy Hood sold 38,000 shares of Microsoft stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $410.55, for a total transaction of $15,600,900.00. Following the completion of the sale, the chief financial officer now owns 496,369 shares of the company’s stock, valued at approximately $203,784,292.95. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Takeshi Numoto sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $411.04, for a total value of $1,027,600.00. Following the transaction, the chief marketing officer now owns 50,000 shares of the company’s stock, valued at approximately $20,552,000. The trade was a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,829 shares of company stock worth $80,966,837 over the last ninety days. Company insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MSFT shares. Sanford C. Bernstein reduced their price objective on shares of Microsoft from $501.00 to $500.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company reiterated a “buy” rating on shares of Microsoft in a research note on Friday, October 18th. Wedbush reissued an “underperform” rating on shares of Microsoft in a research note on Friday, October 18th. The Goldman Sachs Group cut their target price on Microsoft from $515.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price target on Microsoft from $470.00 to $465.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, Microsoft currently has a consensus rating of “Moderate Buy” and a consensus target price of $503.03.

Microsoft Price Performance

MSFT opened at $415.00 on Monday. The company has a market capitalization of $3.09 trillion, a price-to-earnings ratio of 34.24, a PEG ratio of 2.20 and a beta of 0.91. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $422.34 and a 200-day moving average price of $426.00. Microsoft Co. has a twelve month low of $362.90 and a twelve month high of $468.35.

Microsoft (NASDAQ:MSFT) last issued its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.20. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The business had revenue of $65.59 billion for the quarter, compared to analysts’ expectations of $64.57 billion. During the same quarter in the previous year, the firm posted $2.99 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts expect that Microsoft Co. will post 12.94 EPS for the current year.

Microsoft announced that its Board of Directors has authorized a share repurchase plan on Monday, September 16th that authorizes the company to repurchase $60.00 billion in outstanding shares. This repurchase authorization authorizes the software giant to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Microsoft Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Thursday, November 21st. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s payout ratio is presently 24.75%.

About Microsoft

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.