Harbour Trust & Investment Management Co Has $18.83 Million Stock Holdings in Microsoft Corporation (NASDAQ:MSFT)

Harbour Trust & Investment Management Co raised its stake in shares of Microsoft Corporation (NASDAQ:MSFT) by 28.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,148 shares of the software giant’s stock after acquiring an additional 11,175 shares during the quarter. Microsoft makes up 2.3% of Harbour Trust & Investment Management Co’s portfolio, making the stock its 10th largest holding. Harbour Trust & Investment Management Co’s holdings in Microsoft were worth $18,825,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MSFT. Newton One Investments LLC increased its position in Microsoft by 66.7% in the first quarter. Newton One Investments LLC now owns 75 shares of the software giant’s stock worth $28,000 after purchasing an additional 30 shares during the period. Ball & Co Wealth Management Inc. acquired a new stake in Microsoft in the fourth quarter worth about $31,000. LSV Asset Management acquired a new stake in Microsoft in the fourth quarter worth about $44,000. IFS Advisors LLC grew its position in shares of Microsoft by 50.0% during the 1st quarter. IFS Advisors LLC now owns 150 shares of the software giant’s stock worth $57,000 after buying an additional 50 shares during the period. Finally, Fairway Wealth LLC acquired a new position in shares of Microsoft during the 4th quarter worth about $62,000. Institutional investors and hedge funds own 71.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MSFT shares. JPMorgan Chase & Co. boosted their target price on Microsoft from $465.00 to $475.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Oppenheimer boosted their target price on Microsoft from $600.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. BMO Capital Markets lifted their price objective on Microsoft from $550.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Evercore ISI lifted their price objective on Microsoft from $515.00 to $545.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, Piper Sandler lifted their price objective on Microsoft from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Microsoft has a consensus rating of “Moderate Buy” and a consensus price target of $609.86.

Microsoft Stock Down 0.4%

NASDAQ:MSFT opened at $520.17 on Friday. The firm has a market capitalization of $3.87 trillion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 2.29 and a beta of 1.06. Microsoft Corporation has a twelve month low of $344.79 and a twelve month high of $555.45. The stock’s 50 day moving average price is $502.60 and its two-hundred day moving average price is $441.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.12.

Microsoft (NASDAQ:MSFT) last posted its earnings results on Wednesday, July 30th. The software giant reported $3.65 earnings per share for the quarter, topping analysts’ consensus estimates of $3.35 by $0.30. The business had revenue of $76.44 billion for the quarter, compared to analyst estimates 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 firm earned $2.95 EPS. Equities research analysts expect that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Dividend Announcement

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

Insider Buying and Selling

In other Microsoft news, EVP Kathleen T. Hogan sold 21,500 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $453.77, for a total value of $9,756,055.00. Following the transaction, the executive vice president directly owned 134,888 shares of the company’s stock, valued at $61,208,127.76. This represents a 13.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Judson Althoff sold 16,000 shares of the company’s stock in a transaction on 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 approximately $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. In the last three months, insiders have sold 46,350 shares of company stock valued at $21,493,447. 0.03% of the stock is owned by insiders.

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.