Citizens Business Bank Has $10.80 Million Holdings in Microsoft Co. (NASDAQ:MSFT)

Citizens Business Bank reduced its position in Microsoft Co. (NASDAQ:MSFT) by 2.2% in the third quarter, Holdings Channel.com reports. The fund owned 25,102 shares of the software giant’s stock after selling 553 shares during the quarter. Microsoft makes up about 2.2% of Citizens Business Bank’s holdings, making the stock its 6th biggest holding. Citizens Business Bank’s holdings in Microsoft were worth $10,801,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc raised its stake in shares of Microsoft by 35.7% during the third quarter. Christopher J. Hasenberg Inc now owns 95 shares of the software giant’s stock worth $39,000 after acquiring an additional 25 shares in the last quarter. Quarry LP purchased a new position in shares of Microsoft during the second quarter worth approximately $45,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Microsoft during the third quarter worth approximately $62,000. Carolina Wealth Advisors LLC raised its stake in shares of Microsoft by 10.1% during the third quarter. Carolina Wealth Advisors LLC now owns 338 shares of the software giant’s stock worth $145,000 after acquiring an additional 31 shares in the last quarter. Finally, MayTech Global Investments LLC purchased a new position in shares of Microsoft during the second quarter worth approximately $200,000. 71.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MSFT has been the topic of several research reports. KeyCorp lifted their price target on shares of Microsoft from $490.00 to $505.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Piper Sandler reissued an “overweight” rating and set a $520.00 price target on shares of Microsoft in a research note on Monday, January 27th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Microsoft in a research note on Friday, October 18th. StockNews.com raised shares of Microsoft from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $600.00 target price on shares of Microsoft in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Microsoft has a consensus rating of “Moderate Buy” and a consensus target price of $510.96.

Insider Activity

In related news, EVP Judson Althoff sold 25,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $417.00, for a total value of $10,425,000.00. Following the transaction, the executive vice president now owns 117,294 shares in the company, valued at $48,911,598. The trade was a 17.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Takeshi Numoto sold 1,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $414.72, for a total transaction of $414,720.00. Following the completion of the transaction, the chief marketing officer now owns 57,511 shares in the company, valued at approximately $23,850,961.92. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,000 shares of company stock worth $14,333,540. Corporate insiders own 0.03% of the company’s stock.

Microsoft Stock Performance

Shares of MSFT stock opened at $409.04 on Thursday. Microsoft Co. has a 12 month low of $385.58 and a 12 month high of $468.35. The stock has a market cap of $3.04 trillion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90. 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 company’s fifty day moving average price is $430.67 and its 200-day moving average price is $423.24.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, January 29th. The software giant reported $3.23 EPS for the quarter, beating 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 EPS. On average, equities analysts expect that Microsoft Co. will post 13.07 EPS for the current fiscal year.

Microsoft Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, February 20th. Microsoft’s dividend payout ratio (DPR) is presently 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.