Independence Bank of Kentucky Sells 303 Shares of Microsoft Co. (NASDAQ:MSFT)

Independence Bank of Kentucky lessened its holdings in shares of Microsoft Co. (NASDAQ:MSFTGet Rating) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 14,051 shares of the software giant’s stock after selling 303 shares during the quarter. Microsoft makes up 1.6% of Independence Bank of Kentucky’s portfolio, making the stock its 9th biggest position. Independence Bank of Kentucky’s holdings in Microsoft were worth $3,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. University of Texas Texas AM Investment Managment Co. raised its stake in shares of Microsoft by 1,316.7% in the 1st quarter. University of Texas Texas AM Investment Managment Co. now owns 85 shares of the software giant’s stock valued at $26,000 after purchasing an additional 79 shares during the period. Monumental Financial Group Inc. acquired a new stake in shares of Microsoft in the 1st quarter valued at about $28,000. Shore Point Advisors LLC acquired a new stake in shares of Microsoft in the 4th quarter valued at about $40,000. Tobam raised its stake in shares of Microsoft by 15,400.0% in the 1st quarter. Tobam now owns 155 shares of the software giant’s stock valued at $48,000 after purchasing an additional 154 shares during the period. Finally, Artemis Wealth Advisors LLC acquired a new stake in shares of Microsoft in the 1st quarter valued at about $68,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

MSFT has been the subject of several analyst reports. Credit Suisse Group set a $400.00 price objective on Microsoft in a report on Tuesday, July 26th. Guggenheim initiated coverage on Microsoft in a report on Friday, August 12th. They issued a “neutral” rating and a $292.00 price objective for the company. Redburn Partners initiated coverage on Microsoft in a report on Wednesday, June 29th. They issued a “buy” rating and a $370.00 price objective for the company. Piper Sandler decreased their price objective on Microsoft from $352.00 to $312.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Finally, BMO Capital Markets raised their price objective on Microsoft from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to MarketBeat, Microsoft currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.31.

Microsoft Stock Down 0.3 %

Shares of MSFT opened at $244.74 on Monday. Microsoft Co. has a one year low of $241.51 and a one year high of $349.67. The company has a market cap of $1.83 trillion, a P/E ratio of 25.39, a P/E/G ratio of 2.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.78 and a quick ratio of 1.75. The firm has a 50 day simple moving average of $268.81 and a two-hundred day simple moving average of $273.85.

Microsoft (NASDAQ:MSFTGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The software giant reported $2.23 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.06). Microsoft had a net margin of 36.69% and a return on equity of 43.31%. During the same quarter last year, the company earned $2.17 EPS. Research analysts forecast that Microsoft Co. will post 10.14 EPS for the current fiscal year.

Insider Buying and Selling at Microsoft

In other Microsoft news, CMO Christopher C. Capossela sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $266.25, for a total transaction of $1,331,250.00. Following the completion of the transaction, the chief marketing officer now directly owns 109,837 shares in the company, valued at $29,244,101.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.05% of the company’s stock.

Microsoft Profile

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Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.

Further Reading

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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