Summit Investment Advisory Services LLC Buys 354 Shares of Microsoft Corporation (NASDAQ:MSFT)

Summit Investment Advisory Services LLC increased its holdings in shares of Microsoft Corporation (NASDAQ:MSFTFree Report) by 44.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,149 shares of the software giant’s stock after buying an additional 354 shares during the period. Summit Investment Advisory Services LLC’s holdings in Microsoft were worth $431,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Fosun International Ltd boosted its stake in shares of Microsoft by 0.3% during the 1st quarter. Fosun International Ltd now owns 6,633 shares of the software giant’s stock worth $2,490,000 after acquiring an additional 23 shares during the period. Muirfield Wealth Advisors LLC grew its holdings in shares of Microsoft by 0.5% during the 4th quarter. Muirfield Wealth Advisors LLC now owns 4,427 shares of the software giant’s stock worth $1,866,000 after purchasing an additional 24 shares in the last quarter. Retirement Financial Solutions LLC lifted its holdings in shares of Microsoft by 2.3% during the 4th quarter. Retirement Financial Solutions LLC now owns 1,050 shares of the software giant’s stock worth $443,000 after acquiring an additional 24 shares during the period. Sterling Group Wealth Management LLC boosted its position in shares of Microsoft by 0.5% during the 4th quarter. Sterling Group Wealth Management LLC now owns 5,540 shares of the software giant’s stock worth $2,335,000 after acquiring an additional 25 shares in the last quarter. Finally, Kuhn & Co Investment Counsel raised its position in Microsoft by 0.8% during the fourth quarter. Kuhn & Co Investment Counsel now owns 3,286 shares of the software giant’s stock valued at $1,385,000 after purchasing an additional 25 shares in the last quarter. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Stock Performance

Shares of MSFT stock opened at $498.25 on Friday. Microsoft Corporation has a 52 week low of $344.79 and a 52 week high of $500.76. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.36 and a current ratio of 1.37. The firm’s 50-day simple moving average is $461.41 and its two-hundred day simple moving average is $423.67. The firm has a market cap of $3.70 trillion, a price-to-earnings ratio of 38.50, a P/E/G ratio of 2.26 and a beta of 1.04.

Microsoft (NASDAQ:MSFTGet Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The software giant reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.24. The firm had revenue of $70.07 billion during the quarter, compared to analyst estimates of $68.54 billion. Microsoft had a return on equity of 32.74% and a net margin of 35.79%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the company earned $2.94 earnings per share. As a group, equities analysts forecast that Microsoft Corporation will post 13.08 earnings per share for the current year.

Microsoft Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.83 per share. The ex-dividend date is Thursday, August 21st. This represents a $3.32 annualized dividend and a dividend yield of 0.67%. Microsoft’s dividend payout ratio (DPR) is presently 25.66%.

Insider Transactions at Microsoft

In other Microsoft news, EVP Kathleen T. Hogan sold 21,500 shares of Microsoft stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $453.77, for a total transaction of $9,756,055.00. Following the sale, the executive vice president directly owned 134,888 shares of the company’s stock, valued at approximately $61,208,127.76. The trade was a 13.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Judson Althoff sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $458.18, for a total value of $7,330,880.00. Following the transaction, the executive vice president owned 98,010 shares in the company, valued at $44,906,221.80. This trade represents a 14.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,743 shares of company stock valued at $60,224,683. 0.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised their target price on Microsoft from $475.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, May 1st. UBS Group reissued a “positive” rating on shares of Microsoft in a report on Monday. Citigroup boosted their price target on shares of Microsoft from $540.00 to $605.00 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. DA Davidson raised their target price on Microsoft from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Scotiabank raised their target price on Microsoft from $470.00 to $500.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $524.71.

Read Our Latest Stock Analysis on Microsoft

About Microsoft

(Free Report)

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.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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