Chemung Canal Trust Co. raised its stake in shares of Microsoft Corporation (NASDAQ:MSFT) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 171,365 shares of the software giant’s stock after buying an additional 2,772 shares during the period. Microsoft Corporation comprises 2.7% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 5th largest position. Chemung Canal Trust Co.’s holdings in Microsoft Corporation were worth $11,812,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Northstar Group Inc. boosted its stake in Microsoft Corporation by 0.3% in the first quarter. Northstar Group Inc. now owns 3,790 shares of the software giant’s stock valued at $248,000 after buying an additional 12 shares in the last quarter. Gierl Augustine Investment Management Inc boosted its stake in Microsoft Corporation by 0.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 4,034 shares of the software giant’s stock valued at $266,000 after buying an additional 13 shares in the last quarter. New Capital Management LP boosted its stake in Microsoft Corporation by 0.5% in the first quarter. New Capital Management LP now owns 4,305 shares of the software giant’s stock valued at $284,000 after buying an additional 22 shares in the last quarter. Nottingham Advisors Inc. boosted its stake in Microsoft Corporation by 0.4% in the second quarter. Nottingham Advisors Inc. now owns 5,399 shares of the software giant’s stock valued at $372,000 after buying an additional 22 shares in the last quarter. Finally, Vista Capital Partners Inc. boosted its stake in Microsoft Corporation by 0.4% in the first quarter. Vista Capital Partners Inc. now owns 9,411 shares of the software giant’s stock valued at $620,000 after buying an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 72.86% of the company’s stock.

Shares of Microsoft Corporation (NASDAQ:MSFT) traded down 0.87% on Thursday, hitting $71.84. The stock had a trading volume of 8,273,276 shares. The firm has a market capitalization of $553.33 billion, a P/E ratio of 26.51 and a beta of 1.01. The company has a 50 day moving average of $71.61 and a 200-day moving average of $67.86. Microsoft Corporation has a 12-month low of $55.61 and a 12-month high of $74.42.

Microsoft Corporation (NASDAQ:MSFT) last posted its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.27. The business had revenue of $24.70 billion for the quarter, compared to analyst estimates of $24.29 billion. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Equities analysts predict that Microsoft Corporation will post $3.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 17th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 2.15%. Microsoft Corporation’s dividend payout ratio is 57.78%.

ILLEGAL ACTIVITY WARNING: This article was first posted by Daily Political and is owned by of Daily Political. If you are accessing this article on another website, it was illegally stolen and reposted in violation of United States and international copyright and trademark law. The correct version of this article can be accessed at https://www.dailypolitical.com/2017/08/10/microsoft-corporation-msft-is-chemung-canal-trust-co-s-5th-largest-position.html.

MSFT has been the topic of several research analyst reports. Piper Jaffray Companies reiterated an “overweight” rating and set a $80.00 price target on shares of Microsoft Corporation in a research report on Wednesday, April 19th. Pacific Crest reiterated a “buy” rating and set a $70.00 price target on shares of Microsoft Corporation in a research report on Thursday, April 20th. Morgan Stanley reiterated a “buy” rating and set a $72.00 price target on shares of Microsoft Corporation in a research report on Thursday, April 20th. Vetr cut Microsoft Corporation from a “buy” rating to a “hold” rating and set a $69.32 price target on the stock. in a research report on Monday, April 24th. Finally, MKM Partners reiterated a “neutral” rating and set a $60.00 price target on shares of Microsoft Corporation in a research report on Tuesday, April 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $76.15.

In related news, EVP Christopher C. Capossela sold 4,927 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $68.75, for a total transaction of $338,731.25. Following the sale, the executive vice president now owns 214,080 shares in the company, valued at approximately $14,718,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jean Philippe Courtois sold 26,165 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $69.00, for a total transaction of $1,805,385.00. Following the sale, the insider now owns 570,843 shares in the company, valued at approximately $39,388,167. The disclosure for this sale can be found here. Insiders have sold a total of 7,060,855 shares of company stock worth $512,251,908 in the last quarter. 2.99% of the stock is currently owned by company insiders.

Microsoft Corporation Company Profile

Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.

Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Corporation (NASDAQ:MSFT).

Institutional Ownership by Quarter for Microsoft Corporation (NASDAQ:MSFT)

Receive News & Ratings for Microsoft Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft Corporation and related companies with MarketBeat.com's FREE daily email newsletter.