Summit Asset Management LLC Has $7.11 Million Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Summit Asset Management LLC raised its stake in Microsoft Co. (NASDAQ:MSFT) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,866 shares of the software giant’s stock after purchasing an additional 99 shares during the period. Microsoft accounts for 1.2% of Summit Asset Management LLC’s holdings, making the stock its 22nd biggest holding. Summit Asset Management LLC’s holdings in Microsoft were worth $7,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Advisors Inc. acquired a new stake in shares of Microsoft in the 4th quarter valued at about $38,000. IFS Advisors LLC grew its stake in shares of 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 during the period. Avondale Wealth Management grew its stake in shares of Microsoft by 144.4% in 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. acquired a new position in Microsoft during the 3rd quarter valued at about $62,000. Finally, Kieckhefer Group LLC acquired a new position in Microsoft during the 4th quarter valued at about $141,000. Institutional investors own 71.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MSFT shares. Tigress Financial lifted their price target on Microsoft from $550.00 to $595.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Westpark Capital started coverage on Microsoft in a research note on Tuesday, April 1st. They set a “hold” rating for the company. Bank of America cut their price target on Microsoft from $510.00 to $480.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company cut their price target on Microsoft from $515.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Finally, DA Davidson upgraded Microsoft from a “neutral” rating to a “buy” rating and lifted their price target for the company from $425.00 to $450.00 in a research note on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $493.89.

Microsoft Trading Down 0.2 %

Shares of MSFT stock opened at $391.16 on Tuesday. The company’s fifty day simple moving average is $384.46 and its two-hundred day simple moving average is $411.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34. Microsoft Co. has a 1 year low of $344.79 and a 1 year high of $468.35. The stock has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 31.49, a PEG ratio of 2.21 and a beta of 1.00.

Microsoft (NASDAQ:MSFT) last issued its earnings results on Wednesday, January 29th. The software giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.08. Microsoft had a net margin of 35.43% and a return on equity of 33.36%. During the same quarter in the previous year, the business posted $2.93 EPS. As a group, analysts anticipate that Microsoft Co. will post 13.08 earnings per share for the current year.

Microsoft Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.85%. Microsoft’s dividend payout ratio (DPR) is currently 26.73%.

Microsoft Company 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.