Summitry LLC decreased its position in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 0.3% in the 1st quarter, Holdings Channel reports. The fund owned 250,861 shares of the software giant’s stock after selling 688 shares during the quarter. Microsoft accounts for approximately 4.9% of Summitry LLC’s holdings, making the stock its largest position. Summitry LLC’s holdings in Microsoft were worth $72,323,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. DGS Capital Management LLC increased its holdings in Microsoft by 19.9% during the 1st quarter. DGS Capital Management LLC now owns 14,342 shares of the software giant’s stock worth $4,422,000 after acquiring an additional 2,383 shares during the period. IFM Investors Pty Ltd boosted its stake in Microsoft by 20.8% during the first quarter. IFM Investors Pty Ltd now owns 1,138,469 shares of the software giant’s stock valued at $351,001,000 after buying an additional 196,338 shares during the period. Altus Wealth Group LLC increased its stake in Microsoft by 1.2% in the 1st quarter. Altus Wealth Group LLC now owns 12,712 shares of the software giant’s stock worth $3,919,000 after acquiring an additional 152 shares during the last quarter. Powell Investment Advisors LLC raised its holdings in shares of Microsoft by 16.2% in the 1st quarter. Powell Investment Advisors LLC now owns 2,578 shares of the software giant’s stock valued at $795,000 after acquiring an additional 359 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC boosted its position in shares of Microsoft by 8.2% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 6,782 shares of the software giant’s stock valued at $1,921,000 after acquiring an additional 512 shares during the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on MSFT. Fundamental Research set a $298.10 price target on shares of Microsoft and gave the stock a “hold” rating in a report on Wednesday, August 9th. Morgan Stanley increased their target price on Microsoft from $335.00 to $415.00 in a research note on Thursday, July 6th. Tigress Financial upped their price objective on Microsoft from $411.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. TD Cowen raised their price objective on Microsoft from $330.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, July 19th. Finally, Argus upped their target price on Microsoft from $371.00 to $390.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and a consensus price target of $373.68.
Microsoft Stock Down 0.9 %
Shares of Microsoft stock opened at $329.91 on Friday. Microsoft Co. has a 52-week low of $213.43 and a 52-week high of $366.78. The firm’s 50 day moving average price is $332.58 and its 200-day moving average price is $309.64. The company has a quick ratio of 1.75, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.45 trillion, a P/E ratio of 34.05, a PEG ratio of 2.46 and a beta of 0.90.
Microsoft (NASDAQ:MSFT – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The software giant reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.14. The business had revenue of $56.19 billion for the quarter, compared to the consensus estimate of $55.49 billion. Microsoft had a return on equity of 38.70% and a net margin of 34.15%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.23 earnings per share. On average, sell-side analysts predict that Microsoft Co. will post 10.9 EPS for the current fiscal year.
Microsoft Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 17th will be paid a dividend of $0.68 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.82%. Microsoft’s payout ratio is 28.07%.
Insider Buying and Selling
In other Microsoft news, CEO Satya Nadella sold 38,234 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $328.43, for a total value of $12,557,192.62. Following the completion of the transaction, the chief executive officer now owns 800,668 shares of the company’s stock, valued at $262,963,391.24. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Satya Nadella sold 38,234 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $328.43, for a total value of $12,557,192.62. Following the transaction, the chief executive officer now directly owns 800,668 shares of the company’s stock, valued at approximately $262,963,391.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bradford L. Smith sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total value of $16,860,000.00. Following the sale, the insider now owns 588,084 shares in the company, valued at approximately $198,301,924.80. The disclosure for this sale can be found here. Insiders sold 115,049 shares of company stock worth $38,195,619 in the last three months. Corporate insiders own 0.03% of the company’s stock.
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.
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