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

Summit Wealth Partners LLC increased its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 14.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,454 shares of the software giant’s stock after acquiring an additional 829 shares during the period. Summit Wealth Partners LLC’s holdings in Microsoft were worth $2,885,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MSFT. Christopher J. Hasenberg Inc grew its holdings in shares of Microsoft by 169.2% during the second quarter. Christopher J. Hasenberg Inc now owns 70 shares of the software giant’s stock worth $31,000 after buying an additional 44 shares in the last quarter. Quarry LP acquired a new stake in shares of Microsoft during the second quarter valued at about $45,000. Innealta Capital LLC acquired a new position in Microsoft during the second quarter worth $75,000. Bellevue Group AG increased its stake in Microsoft by 47.5% during the first quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock worth $76,000 after purchasing an additional 58 shares during the period. Finally, Bbjs Financial Advisors LLC lifted its holdings in Microsoft by 241.4% during the 2nd quarter. Bbjs Financial Advisors LLC now owns 379 shares of the software giant’s stock worth $169,000 after buying an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Analyst Ratings Changes

MSFT has been the topic of several analyst reports. UBS Group reduced their target price on shares of Microsoft from $510.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company restated a “buy” rating on shares of Microsoft in a research report on Friday, October 18th. Oppenheimer cut shares of Microsoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 price objective on shares of Microsoft in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, Microsoft presently has an average rating of “Moderate Buy” and a consensus target price of $503.03.

Insiders Place Their Bets

In related news, CEO Satya Nadella sold 14,398 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $417.41, for a total transaction of $6,009,869.18. Following the transaction, the chief executive officer now owns 786,933 shares in the company, valued at $328,473,703.53. This trade represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy Hood sold 38,000 shares of Microsoft stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $410.55, for a total value of $15,600,900.00. Following the transaction, the chief financial officer now directly owns 496,369 shares in the company, valued at approximately $203,784,292.95. The trade was a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,829 shares of company stock valued at $80,966,837 over the last three months. Company insiders own 0.03% of the company’s stock.

Microsoft Trading Down 2.8 %

Shares of MSFT stock opened at $415.00 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.09 trillion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 2.25 and a beta of 0.91. The firm’s 50 day moving average price is $422.34 and its two-hundred day moving average price is $425.53. Microsoft Co. has a fifty-two week low of $362.90 and a fifty-two week high of $468.35.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, October 30th. The software giant reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.20. The business had revenue of $65.59 billion during the quarter, compared to the consensus estimate of $64.57 billion. Microsoft had a net margin of 35.61% and a return on equity of 34.56%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.99 earnings per share. On average, analysts anticipate that Microsoft Co. will post 12.94 EPS for the current year.

Microsoft Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.83 dividend. This is an increase from Microsoft’s previous quarterly dividend of $0.75. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, November 21st. Microsoft’s dividend payout ratio (DPR) is presently 27.39%.

Microsoft announced that its Board of Directors has initiated a stock 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 repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

About Microsoft

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.