Virginia National Bank Reduces Stake in Microsoft Co. (NASDAQ:MSFT)

Virginia National Bank lowered its stake in Microsoft Co. (NASDAQ:MSFTGet Rating) by 3.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,216 shares of the software giant’s stock after selling 214 shares during the period. Microsoft accounts for approximately 2.5% of Virginia National Bank’s holdings, making the stock its 11th largest holding. Virginia National Bank’s holdings in Microsoft were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Microsoft by 0.9% in the first quarter. Vanguard Group Inc. now owns 621,598,157 shares of the software giant’s stock worth $191,644,927,000 after purchasing an additional 5,648,095 shares during the last quarter. State Street Corp lifted its stake in Microsoft by 2.8% in the fourth quarter. State Street Corp now owns 302,541,869 shares of the software giant’s stock worth $101,750,881,000 after purchasing an additional 8,108,943 shares during the last quarter. Geode Capital Management LLC lifted its stake in Microsoft by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 129,107,118 shares of the software giant’s stock worth $43,313,705,000 after purchasing an additional 3,027,306 shares during the last quarter. Norges Bank bought a new stake in Microsoft in the fourth quarter worth about $24,401,940,000. Finally, Nuveen Asset Management LLC lifted its stake in Microsoft by 1.0% in the fourth quarter. Nuveen Asset Management LLC now owns 57,181,533 shares of the software giant’s stock worth $19,231,292,000 after purchasing an additional 584,273 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup decreased their price objective on shares of Microsoft from $330.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. UBS Group set a $330.00 price target on shares of Microsoft in a research note on Thursday. Itau BBA Securities assumed coverage on shares of Microsoft in a research note on Tuesday, July 26th. They set an “outperform” rating and a $287.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Microsoft from $350.00 to $330.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Finally, KeyCorp decreased their price target on shares of Microsoft from $373.00 to $330.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Two research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Microsoft has a consensus rating of “Moderate Buy” and a consensus price target of $334.31.

Insider Activity at Microsoft

In related news, CMO Christopher C. Capossela sold 5,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is currently owned by insiders.

Microsoft Price Performance

Shares of MSFT opened at $244.74 on Monday. The firm has a market capitalization of $1.83 trillion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The company’s fifty day moving average price is $268.81 and its 200-day moving average price is $273.85. Microsoft Co. has a 1-year low of $241.51 and a 1-year high of $349.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.78 and a quick ratio of 1.75.

Microsoft (NASDAQ:MSFTGet Rating) last posted its earnings results on Tuesday, July 26th. The software giant reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, equities research analysts predict that Microsoft Co. will post 10.14 EPS for the current year.

Microsoft Profile

(Get Rating)

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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