Spinnaker Trust Has $42.77 Million Stock Holdings in Microsoft Corporation (NASDAQ:MSFT)

Spinnaker Trust cut its position in shares of Microsoft Corporation (NASDAQ:MSFT) by 2.8% in the first quarter, Holdings Channel reports. The institutional investor owned 113,936 shares of the software giant’s stock after selling 3,312 shares during the period. Microsoft comprises 2.8% of Spinnaker Trust’s portfolio, making the stock its 9th biggest holding. Spinnaker Trust’s holdings in Microsoft were worth $42,770,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Microsoft by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 684,071,705 shares of the software giant’s stock valued at $288,336,224,000 after purchasing an additional 10,431,988 shares in the last quarter. Geode Capital Management LLC grew its stake in Microsoft by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 168,128,024 shares of the software giant’s stock valued at $70,720,874,000 after purchasing an additional 3,103,212 shares in the last quarter. Norges Bank bought a new position in Microsoft in the fourth quarter valued at approximately $44,343,058,000. Northern Trust Corp grew its stake in Microsoft by 16.1% in the fourth quarter. Northern Trust Corp now owns 83,787,746 shares of the software giant’s stock valued at $35,316,535,000 after purchasing an additional 11,600,470 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Microsoft by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,961,337 shares of the software giant’s stock valued at $25,273,704,000 after purchasing an additional 5,370,546 shares in the last quarter. 71.13% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Takeshi Numoto sold 4,850 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $527.32, for a total value of $2,557,502.00. Following the transaction, the executive vice president directly owned 39,111 shares of the company’s stock, valued at $20,624,012.52. The trade was a 11.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Judson Althoff sold 16,000 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $458.18, for a total value of $7,330,880.00. Following the completion of the transaction, the executive vice president directly owned 98,010 shares in the company, valued at $44,906,221.80. This represents a 14.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,350 shares of company stock valued at $21,493,447 in the last ninety days. 0.03% of the stock is owned by company insiders.

Microsoft Stock Down 1.6%

Shares of MSFT opened at $520.58 on Thursday. The company has a market capitalization of $3.87 trillion, a PE ratio of 38.17, a PEG ratio of 2.32 and a beta of 1.06. Microsoft Corporation has a 12 month low of $344.79 and a 12 month high of $555.45. The stock’s 50-day moving average price is $500.51 and its two-hundred day moving average price is $439.91. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.12.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, July 30th. The software giant reported $3.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.35 by $0.30. The company had revenue of $76.44 billion for the quarter, compared to the consensus estimate of $73.79 billion. Microsoft had a return on equity of 32.44% and a net margin of 36.15%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 EPS. On average, analysts anticipate that Microsoft Corporation will post 13.08 EPS for the current year.

Microsoft Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 21st. Microsoft’s payout ratio is currently 24.34%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MSFT. BMO Capital Markets raised their price target on Microsoft from $550.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Cantor Fitzgerald raised their price objective on Microsoft from $581.00 to $639.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. TD Securities raised their price objective on Microsoft from $475.00 to $490.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Piper Sandler raised their price objective on Microsoft from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Microsoft from $465.00 to $475.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $609.86.

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.