Orrstown Financial Services Inc. Invests $2.98 Million in Microsoft Co. (NASDAQ:MSFT)

Orrstown Financial Services Inc. acquired a new position in shares of Microsoft Co. (NASDAQ:MSFT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,915 shares of the software giant’s stock, valued at approximately $2,976,000. Microsoft accounts for about 2.4% of Orrstown Financial Services Inc.’s portfolio, making the stock its 4th largest position.

Several other large investors have also modified their holdings of MSFT. Handelsinvest Investeringsforvaltning grew its position in Microsoft by 62.9% in the fourth quarter. Handelsinvest Investeringsforvaltning now owns 30,903 shares of the software giant’s stock valued at $11,621,000 after acquiring an additional 11,931 shares in the last quarter. Source Financial Advisors LLC grew its position in Microsoft by 0.3% in the fourth quarter. Source Financial Advisors LLC now owns 10,727 shares of the software giant’s stock valued at $4,034,000 after acquiring an additional 32 shares in the last quarter. Baker Tilly Wealth Management LLC grew its position in Microsoft by 0.5% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 50,044 shares of the software giant’s stock valued at $18,819,000 after acquiring an additional 236 shares in the last quarter. Amplius Wealth Advisors LLC grew its position in Microsoft by 0.7% in the fourth quarter. Amplius Wealth Advisors LLC now owns 12,887 shares of the software giant’s stock valued at $4,846,000 after acquiring an additional 91 shares in the last quarter. Finally, Raymond James Trust N.A. grew its position in Microsoft by 3.4% in the fourth quarter. Raymond James Trust N.A. now owns 400,380 shares of the software giant’s stock valued at $150,559,000 after acquiring an additional 13,060 shares in the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MSFT. Argus raised their price target on shares of Microsoft from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Wells Fargo & Company raised their price target on shares of Microsoft from $435.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Mizuho raised their price target on shares of Microsoft from $420.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Tigress Financial raised their price target on shares of Microsoft from $433.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Finally, Royal Bank of Canada raised their price target on shares of Microsoft from $415.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and thirty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $423.34.

Microsoft Trading Down 0.1 %

NASDAQ:MSFT opened at $421.43 on Thursday. The stock has a market cap of $3.13 trillion, a PE ratio of 38.10, a price-to-earnings-growth ratio of 2.25 and a beta of 0.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.20. Microsoft Co. has a fifty-two week low of $272.05 and a fifty-two week high of $430.82. The stock’s 50-day moving average is $409.64 and its two-hundred day moving average is $373.65.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Tuesday, January 30th. The software giant reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.17. The business had revenue of $62.02 billion during the quarter, compared to analyst estimates of $61.14 billion. Microsoft had a return on equity of 38.40% and a net margin of 36.27%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.32 EPS. As a group, equities research analysts forecast that Microsoft Co. will post 11.63 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.00 annualized dividend and a yield of 0.71%. Microsoft’s dividend payout ratio (DPR) is currently 27.12%.

Insider Buying and Selling

In related news, EVP Kathleen T. Hogan sold 21,955 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $403.96, for a total value of $8,868,941.80. Following the completion of the sale, the executive vice president now directly owns 159,764 shares in the company, valued at approximately $64,538,265.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Kathleen T. Hogan sold 21,955 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $403.96, for a total transaction of $8,868,941.80. Following the completion of the transaction, the executive vice president now directly owns 159,764 shares in the company, valued at $64,538,265.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bradford L. Smith sold 3,303 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $406.12, for a total value of $1,341,414.36. Following the transaction, the insider now owns 570,826 shares of the company’s stock, valued at $231,823,855.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,070,258 shares of company stock worth $30,690,456. 0.03% of the stock is currently owned by insiders.

About Microsoft

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.