Summa Corp. Has $14.46 Million Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Summa Corp. cut its position in Microsoft Co. (NASDAQ:MSFT) by 3.1% during the 4th quarter, HoldingsChannel reports. The firm owned 34,306 shares of the software giant’s stock after selling 1,112 shares during the quarter. Microsoft makes up about 7.1% of Summa Corp.’s investment portfolio, making the stock its 3rd largest position. Summa Corp.’s holdings in Microsoft were worth $14,460,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc raised its stake in shares of Microsoft by 35.7% during the third quarter. Christopher J. Hasenberg Inc now owns 95 shares of the software giant’s stock valued at $39,000 after purchasing an additional 25 shares in the last quarter. IFS Advisors LLC grew its position in Microsoft by 53.8% in the 4th quarter. IFS Advisors LLC now owns 100 shares of the software giant’s stock valued at $42,000 after buying an additional 35 shares in the last quarter. Avondale Wealth Management increased its stake in Microsoft by 144.4% during the 4th quarter. Avondale Wealth Management now owns 110 shares of the software giant’s stock valued at $46,000 after buying an additional 65 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Microsoft during the 3rd quarter worth about $62,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Microsoft in the 4th quarter worth approximately $141,000. 71.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MSFT has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $509.00 price objective on shares of Microsoft in a research note on Wednesday, January 29th. Loop Capital lifted their price target on Microsoft from $500.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Stifel Nicolaus cut their price objective on Microsoft from $515.00 to $475.00 and set a “buy” rating for the company in a report on Friday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 target price on shares of Microsoft in a research note on Thursday, January 30th. Finally, Tigress Financial boosted their price target on shares of Microsoft from $550.00 to $595.00 and gave the stock a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $510.59.

Microsoft Trading Up 1.1 %

Shares of NASDAQ MSFT opened at $391.26 on Friday. The business has a fifty day simple moving average of $408.82 and a 200-day simple moving average of $419.67. The company has a market cap of $2.91 trillion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 2.21 and a beta of 0.92. The company has a quick ratio of 1.34, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. Microsoft Co. has a 12 month low of $376.91 and a 12 month high of $468.35.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, January 29th. The software giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.08. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. During the same period in the prior year, the company posted $2.93 earnings per share. Sell-side analysts predict that Microsoft Co. will post 13.08 EPS for the current year.

Microsoft Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 15th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, May 15th. Microsoft’s dividend payout ratio is currently 26.73%.

Microsoft Profile

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.