Trust Co Trims Holdings in Microsoft Corporation (MSFT)
Trust Co cut its position in shares of Microsoft Corporation (NASDAQ:MSFT) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,312 shares of the software giant’s stock after selling 3,359 shares during the period. Microsoft Corporation makes up 4.4% of Trust Co’s holdings, making the stock its 5th biggest holding. Trust Co’s holdings in Microsoft Corporation were worth $9,439,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Dodge & Cox purchased a new stake in shares of Microsoft Corporation in the 4th quarter valued at approximately $2,658,504,000. Investec Asset Management LTD raised its stake in shares of Microsoft Corporation by 43.5% in the 1st quarter. Investec Asset Management LTD now owns 9,093,270 shares of the software giant’s stock valued at $598,883,000 after acquiring an additional 2,754,877 shares during the period. State Street Corp raised its stake in shares of Microsoft Corporation by 0.8% in the 1st quarter. State Street Corp now owns 318,681,830 shares of the software giant’s stock valued at $20,988,383,000 after acquiring an additional 2,552,473 shares during the period. Steadfast Capital Management LP raised its stake in shares of Microsoft Corporation by 63.0% in the 1st quarter. Steadfast Capital Management LP now owns 4,006,839 shares of the software giant’s stock valued at $263,890,000 after acquiring an additional 1,548,108 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Microsoft Corporation in the 1st quarter valued at approximately $99,933,000. 73.40% of the stock is currently owned by institutional investors.
In other Microsoft Corporation news, CFO Amy Hood sold 55,000 shares of Microsoft Corporation stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $72.71, for a total transaction of $3,999,050.00. Following the transaction, the chief financial officer now owns 510,217 shares of the company’s stock, valued at approximately $37,097,878.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jean Philippe Courtois sold 26,763 shares of Microsoft Corporation stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $74.00, for a total value of $1,980,462.00. Following the transaction, the insider now directly owns 544,080 shares in the company, valued at approximately $40,261,920. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,108,526 shares of company stock worth $515,879,974. Company insiders own 2.99% of the company’s stock.
MSFT has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $73.00 price target on shares of Microsoft Corporation in a research note on Sunday, July 9th. Morningstar, Inc. reissued a “buy” rating on shares of Microsoft Corporation in a research note on Wednesday, June 28th. Cleveland Research initiated coverage on shares of Microsoft Corporation in a research note on Thursday, June 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Morgan Stanley set a $80.00 price target on shares of Microsoft Corporation and gave the company a “buy” rating in a research note on Monday, June 19th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $75.00 price target on shares of Microsoft Corporation in a research note on Friday, June 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty have given a buy rating to the stock. Microsoft Corporation presently has an average rating of “Buy” and a consensus target price of $76.72.
Microsoft Corporation (MSFT) traded up 0.55% during midday trading on Tuesday, hitting $75.57. 6,367,110 shares of the company traded hands. Microsoft Corporation has a 12-month low of $56.32 and a 12-month high of $75.97. The company has a market cap of $582.06 billion, a PE ratio of 27.89 and a beta of 1.00. The stock has a 50 day moving average price of $73.33 and a 200-day moving average price of $69.72.
Microsoft Corporation (NASDAQ:MSFT) last released its earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.27. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. The company had revenue of $24.70 billion for the quarter, compared to analysts’ expectations of $24.29 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts expect that Microsoft Corporation will post $3.16 EPS for the current year.
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About Microsoft Corporation
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.
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