Microsoft Co. (NASDAQ:MSFT) Shares Sold by Summit Wealth Partners LLC

Summit Wealth Partners LLC reduced its stake in Microsoft Co. (NASDAQ:MSFT) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,970 shares of the software giant’s stock after selling 484 shares during the quarter. Summit Wealth Partners LLC’s holdings in Microsoft were worth $2,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Net Worth Advisory Group purchased a new position in shares of Microsoft during the 3rd quarter worth approximately $2,645,000. Oak Ridge Investments LLC grew its holdings in Microsoft by 7.6% during the third quarter. Oak Ridge Investments LLC now owns 263,534 shares of the software giant’s stock worth $113,399,000 after acquiring an additional 18,544 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Microsoft by 1.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,975,200 shares of the software giant’s stock worth $882,816,000 after acquiring an additional 31,401 shares in the last quarter. Jacobs & Co. CA lifted its holdings in Microsoft by 0.9% in the third quarter. Jacobs & Co. CA now owns 96,021 shares of the software giant’s stock valued at $41,318,000 after acquiring an additional 880 shares during the period. Finally, Evernest Financial Advisors LLC boosted its position in shares of Microsoft by 389.2% during the 3rd quarter. Evernest Financial Advisors LLC now owns 53,770 shares of the software giant’s stock worth $23,137,000 after purchasing an additional 42,778 shares in the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microsoft

In other news, EVP Judson Althoff sold 25,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $417.00, for a total value of $10,425,000.00. Following the completion of the sale, the executive vice president now owns 117,294 shares in the company, valued at approximately $48,911,598. This trade represents a 17.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher David Young sold 7,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $423.66, for a total value of $3,050,352.00. Following the transaction, the executive vice president now directly owns 103,366 shares in the company, valued at $43,792,039.56. This trade represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,200 shares of company stock valued at $17,383,892 over the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Microsoft Stock Down 0.8 %

Shares of NASDAQ:MSFT opened at $421.50 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.13 trillion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.37 and a beta of 0.90. The stock’s 50-day moving average price is $428.90 and its two-hundred day moving average price is $428.60. Microsoft Co. has a 12-month low of $366.50 and a 12-month high of $468.35.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Wednesday, October 30th. The software giant reported $3.30 EPS for the quarter, topping the consensus estimate of $3.10 by $0.20. The firm had revenue of $65.59 billion during the quarter, compared to analyst estimates of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. Microsoft’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.99 earnings per share. On average, research analysts forecast that Microsoft Co. will post 12.93 EPS for the current year.

Microsoft announced that its board has initiated a share repurchase plan on Monday, September 16th that permits the company to buyback $60.00 billion in outstanding shares. This buyback authorization permits the software giant to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Microsoft Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.79%. Microsoft’s dividend payout ratio (DPR) is 27.39%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. KeyCorp raised their price objective on shares of Microsoft from $490.00 to $505.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Loop Capital lifted their price target on shares of Microsoft from $500.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Stifel Nicolaus upped their price target on Microsoft from $475.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. BMO Capital Markets reduced their price objective on Microsoft from $500.00 to $495.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, DA Davidson lowered Microsoft from a “buy” rating to a “neutral” rating and set a $475.00 target price on the stock. in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and an average price target of $509.90.

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.