Montecito Bank & Trust Sells 6,094 Shares of Microsoft Corporation (MSFT)

Montecito Bank & Trust trimmed its holdings in shares of Microsoft Corporation (NASDAQ:MSFT) by 13.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,573 shares of the software giant’s stock after selling 6,094 shares during the quarter. Microsoft Corporation accounts for approximately 1.0% of Montecito Bank & Trust’s holdings, making the stock its 18th biggest holding. Montecito Bank & Trust’s holdings in Microsoft Corporation were worth $2,797,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MSFT. Hefty Wealth Partners raised its position in shares of Microsoft Corporation by 65.6% during the 2nd quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock valued at $113,000 after buying an additional 653 shares in the last quarter. Asset Planning Services Ltd. raised its position in shares of Microsoft Corporation by 93.0% during the 1st quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock valued at $114,000 after buying an additional 837 shares in the last quarter. Ullmann Financial Group Inc. purchased a new stake in shares of Microsoft Corporation during the 1st quarter valued at about $132,000. Opera Trading Capital raised its position in shares of Microsoft Corporation by 1,522.0% during the 2nd quarter. Opera Trading Capital now owns 2,433 shares of the software giant’s stock valued at $168,000 after buying an additional 2,283 shares in the last quarter. Finally, Baystate Wealth Management LLC raised its position in shares of Microsoft Corporation by 3.6% during the 2nd quarter. Baystate Wealth Management LLC now owns 10,688 shares of the software giant’s stock valued at $184,000 after buying an additional 374 shares in the last quarter. Hedge funds and other institutional investors own 73.37% of the company’s stock.

In other news, insider G Mason Morfit sold 7,000,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $72.56, for a total transaction of $507,920,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jean Philippe Courtois sold 26,763 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $74.00, for a total transaction of $1,980,462.00. Following the transaction, the insider now directly owns 537,519 shares in the company, valued at $39,776,406.  Over the last ninety days, insiders have sold 7,108,526 shares of company stock worth $515,879,974. Corporate insiders own 2.99% of the company’s stock.

MSFT has been the topic of several recent research reports. Sanford C. Bernstein set a $87.00 target price on shares of Microsoft Corporation and gave the company a “buy” rating in a research report on Friday, July 21st. Canaccord Genuity restated a “hold” rating and set a $76.00 target price on shares of Microsoft Corporation in a research report on Friday, September 15th. Evercore ISI restated a “buy” rating and set a $80.00 target price on shares of Microsoft Corporation in a research report on Friday, August 18th. Morningstar, Inc. restated a “buy” rating on shares of Microsoft Corporation in a research report on Wednesday, June 28th. Finally, Macquarie set a $77.00 target price on shares of Microsoft Corporation and gave the company a “neutral” rating in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $77.66.

Shares of Microsoft Corporation (NASDAQ MSFT) opened at 78.81 on Friday. The firm has a market cap of $607.01 billion, a price-to-earnings ratio of 29.08 and a beta of 1.01. The stock has a 50 day moving average of $75.30 and a 200 day moving average of $71.50. Microsoft Corporation has a 12 month low of $57.28 and a 12 month high of $78.97.

Microsoft Corporation (NASDAQ:MSFT) last posted its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.27. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The business had revenue of $24.70 billion for the quarter, compared to analysts’ expectations of $24.29 billion. During the same period in the prior year, the company posted $0.69 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts expect that Microsoft Corporation will post $3.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This is a boost from Microsoft Corporation’s previous quarterly dividend of $0.39. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.13%. Microsoft Corporation’s dividend payout ratio is 57.78%.

Microsoft Corporation Profile

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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