Chemung Canal Trust Co. decreased its holdings in Microsoft Co. (NASDAQ:MSFT) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 152,809 shares of the software giant’s stock after selling 5,111 shares during the quarter. Microsoft makes up about 4.4% of Chemung Canal Trust Co.’s holdings, making the stock its 2nd biggest holding. Chemung Canal Trust Co.’s holdings in Microsoft were worth $15,522,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Highwater Wealth Management LLC purchased a new position in shares of Microsoft during the fourth quarter valued at $27,000. Mackey Komara & Dankovich LLC purchased a new position in shares of Microsoft during the fourth quarter valued at $30,000. Ayalon Holdings Ltd. purchased a new position in shares of Microsoft during the fourth quarter valued at $41,000. Contravisory Investment Management Inc. increased its stake in shares of Microsoft by 113.1% during the fourth quarter. Contravisory Investment Management Inc. now owns 537 shares of the software giant’s stock valued at $55,000 after buying an additional 285 shares during the period. Finally, Avondale Wealth Management increased its stake in shares of Microsoft by 50.5% during the fourth quarter. Avondale Wealth Management now owns 557 shares of the software giant’s stock valued at $57,000 after buying an additional 187 shares during the period. Institutional investors and hedge funds own 73.14% of the company’s stock.

Shares of NASDAQ MSFT opened at $127.67 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.97 and a quick ratio of 2.93. The stock has a market capitalization of $986.11 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. Microsoft Co. has a fifty-two week low of $93.96 and a fifty-two week high of $131.37.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Wednesday, April 24th. The software giant reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.14. The business had revenue of $30.57 billion during the quarter, compared to the consensus estimate of $29.86 billion. Microsoft had a return on equity of 39.34% and a net margin of 28.58%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share. On average, equities analysts anticipate that Microsoft Co. will post 4.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Wednesday, May 15th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, May 15th. Microsoft’s dividend payout ratio is presently 47.42%.

In other Microsoft news, CEO Satya Nadella sold 15,334 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $112.31, for a total value of $1,722,161.54. Following the completion of the sale, the chief executive officer now owns 1,104,932 shares of the company’s stock, valued at $124,094,912.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Bradford L. Smith sold 192,300 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $130.34, for a total value of $25,064,382.00. Following the completion of the sale, the president now directly owns 754,442 shares of the company’s stock, valued at approximately $98,333,970.28. The disclosure for this sale can be found here. In the last three months, insiders sold 238,354 shares of company stock valued at $30,340,221. Corporate insiders own 1.38% of the company’s stock.

Several equities analysts have recently commented on the company. Credit Suisse Group restated a “buy” rating and set a $125.00 price target on shares of Microsoft in a research note on Friday, March 22nd. KeyCorp restated a “buy” rating and set a $141.00 price target (up previously from $125.00) on shares of Microsoft in a research note on Wednesday, April 17th. JPMorgan Chase & Co. raised their price target on Microsoft from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Wedbush raised their price target on Microsoft from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Morgan Stanley raised their price objective on Microsoft from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $135.75.

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Microsoft Company Profile

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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