Summit Wealth & Retirement Planning Inc. Purchases 71 Shares of Microsoft Co. (NASDAQ:MSFT)

Summit Wealth & Retirement Planning Inc. increased its position in shares of Microsoft Co. (NASDAQ:MSFT) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,352 shares of the software giant’s stock after purchasing an additional 71 shares during the period. Microsoft accounts for 1.0% of Summit Wealth & Retirement Planning Inc.’s portfolio, making the stock its 18th largest holding. Summit Wealth & Retirement Planning Inc.’s holdings in Microsoft were worth $3,164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MSFT. First National Bank Sioux Falls grew its position in shares of Microsoft by 0.4% in the 2nd quarter. First National Bank Sioux Falls now owns 6,340 shares of the software giant’s stock worth $2,834,000 after buying an additional 24 shares during the last quarter. BCK Partners Inc. grew its position in shares of Microsoft by 1.8% in the 3rd quarter. BCK Partners Inc. now owns 1,353 shares of the software giant’s stock worth $582,000 after buying an additional 24 shares during the last quarter. Flagship Private Wealth LLC grew its position in shares of Microsoft by 2.8% in the 2nd quarter. Flagship Private Wealth LLC now owns 913 shares of the software giant’s stock worth $408,000 after buying an additional 25 shares during the last quarter. Massachusetts Wealth Management grew its position in Microsoft by 0.3% during the 2nd quarter. Massachusetts Wealth Management now owns 9,640 shares of the software giant’s stock worth $4,309,000 after purchasing an additional 25 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in Microsoft by 0.8% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,255 shares of the software giant’s stock worth $1,455,000 after purchasing an additional 25 shares during the last quarter. 71.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MSFT. StockNews.com downgraded shares of Microsoft from a “buy” rating to a “hold” rating in a research report on Tuesday. KeyCorp boosted their target price on shares of Microsoft from $490.00 to $505.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Wells Fargo & Company reissued a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. Truist Financial reissued a “buy” rating and set a $600.00 target price on shares of Microsoft in a research report on Monday, October 28th. Finally, Morgan Stanley boosted their target price on shares of Microsoft from $506.00 to $548.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and an average price target of $511.62.

Microsoft Stock Performance

MSFT opened at $417.19 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.30 and a quick ratio of 1.29. The firm has a fifty day moving average price of $429.00 and a 200 day moving average price of $426.98. The stock has a market cap of $3.10 trillion, a P/E ratio of 34.42, a P/E/G ratio of 2.37 and a beta of 0.90. Microsoft Co. has a 1 year low of $384.81 and a 1 year high of $468.35.

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

Microsoft Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Thursday, February 20th. Microsoft’s dividend payout ratio is presently 27.39%.

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

Insiders Place Their Bets

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