Chemung Canal Trust Co. Sells 1,065 Shares of Microsoft Co. (MSFT)

Chemung Canal Trust Co. reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,410 shares of the software giant’s stock after selling 1,065 shares during the period. Microsoft accounts for 3.2% of Chemung Canal Trust Co.’s portfolio, making the stock its 4th biggest holding. Chemung Canal Trust Co.’s holdings in Microsoft were worth $14,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of MSFT. Beach Investment Management LLC. lifted its holdings in Microsoft by 947.3% in the 2nd quarter. Beach Investment Management LLC. now owns 279,537 shares of the software giant’s stock worth $19,268,000 after purchasing an additional 252,847 shares in the last quarter. Signature Financial Management Inc. lifted its holdings in Microsoft by 41.6% in the 2nd quarter. Signature Financial Management Inc. now owns 17,475 shares of the software giant’s stock worth $1,204,000 after purchasing an additional 5,134 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Microsoft by 8.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 819,350 shares of the software giant’s stock worth $56,478,000 after purchasing an additional 61,901 shares in the last quarter. United Asset Strategies Inc. lifted its holdings in Microsoft by 57.9% in the 2nd quarter. United Asset Strategies Inc. now owns 20,521 shares of the software giant’s stock worth $1,415,000 after purchasing an additional 7,526 shares in the last quarter. Finally, Outfitter Advisors LTD. lifted its holdings in Microsoft by 0.8% in the 2nd quarter. Outfitter Advisors LTD. now owns 12,133 shares of the software giant’s stock worth $836,000 after purchasing an additional 100 shares in the last quarter. 73.84% of the stock is currently owned by hedge funds and other institutional investors.

In other Microsoft news, CMO Christopher C. Capossela sold 3,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $93.30, for a total value of $279,900.00. Following the transaction, the chief marketing officer now owns 178,278 shares of the company’s stock, valued at approximately $16,633,337.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher C. Capossela sold 3,500 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $93.00, for a total value of $325,500.00. Following the completion of the transaction, the executive vice president now directly owns 171,278 shares in the company, valued at approximately $15,928,854. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock worth $930,900 in the last ninety days. 1.49% of the stock is currently owned by corporate insiders.

MSFT has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on Microsoft to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Citigroup boosted their price target on Microsoft to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Goldman Sachs set a $100.00 price target on Microsoft and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Royal Bank of Canada set a $100.00 price target on Microsoft and gave the stock a “buy” rating in a report on Tuesday, December 26th. Finally, Deutsche Bank set a $120.00 price target on Microsoft and gave the stock a “buy” rating in a report on Monday, March 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Microsoft has a consensus rating of “Buy” and a consensus price target of $100.14.

Shares of Microsoft stock opened at $94.17 on Tuesday. The firm has a market capitalization of $716,696.75, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.16 and a beta of 1.06. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.85 and a current ratio of 2.89. Microsoft Co. has a 52 week low of $64.89 and a 52 week high of $97.24.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, January 31st. The software giant reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.09. The company had revenue of $28.92 billion for the quarter, compared to the consensus estimate of $28.42 billion. Microsoft had a return on equity of 35.41% and a net margin of 11.72%. Microsoft’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 EPS. equities analysts expect that Microsoft Co. will post 3.63 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 17th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.78%. The ex-dividend date is Wednesday, May 16th. Microsoft’s dividend payout ratio (DPR) is presently 50.76%.

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About Microsoft

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

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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