Microsoft Co. (NASDAQ:MSFT) Shares Sold by Summitry LLC
Summitry LLC lowered its position in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 18.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 204,041 shares of the software giant’s stock after selling 46,820 shares during the quarter. Microsoft comprises about 4.4% of Summitry LLC’s portfolio, making the stock its largest position. Summitry LLC’s holdings in Microsoft were worth $69,484,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Monumental Financial Group Inc. acquired a new position in shares of Microsoft in the 1st quarter valued at about $28,000. Syverson Strege & Co lifted its holdings in shares of Microsoft by 157.0% in the 1st quarter. Syverson Strege & Co now owns 203 shares of the software giant’s stock valued at $58,000 after buying an additional 124 shares during the period. Carolina Wealth Advisors LLC lifted its holdings in shares of Microsoft by 39.0% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 303 shares of the software giant’s stock valued at $103,000 after buying an additional 85 shares during the period. Alapocas Investment Partners Inc. acquired a new position in Microsoft in the 1st quarter worth about $97,000. Finally, MayTech Global Investments LLC acquired a new position in Microsoft in the 4th quarter worth about $83,000. Institutional investors and hedge funds own 69.20% of the company’s stock.
Microsoft Price Performance
Shares of NASDAQ MSFT opened at $369.14 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.66 and a quick ratio of 1.64. The company has a market cap of $2.74 trillion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 2.49 and a beta of 0.90. The stock’s 50-day moving average is $346.96 and its two-hundred day moving average is $337.10. Microsoft Co. has a 1-year low of $219.35 and a 1-year high of $384.30.
Microsoft (NASDAQ:MSFT – Get Free Report) last issued its earnings results on Tuesday, October 24th. The software giant reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.34. Microsoft had a net margin of 35.31% and a return on equity of 38.79%. The firm had revenue of $56.52 billion for the quarter, compared to analysts’ expectations of $54.52 billion. During the same quarter last year, the company earned $2.35 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Analysts forecast that Microsoft Co. will post 11.13 EPS for the current fiscal year.
Microsoft Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 15th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.81%. Microsoft’s payout ratio is currently 29.04%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on MSFT shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $390.00 price target on shares of Microsoft in a report on Friday, November 24th. Piper Sandler upped their price target on Microsoft from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 25th. HSBC raised Microsoft from a “hold” rating to a “buy” rating and upped their price target for the stock from $347.00 to $413.00 in a report on Thursday, October 26th. Barclays upped their price target on Microsoft from $410.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. Finally, Oppenheimer reiterated an “outperform” rating and set a $410.00 price objective on shares of Microsoft in a research note on Wednesday, October 25th. Four analysts have rated the stock with a hold rating and thirty-five have issued a buy rating to the company. According to MarketBeat, Microsoft has an average rating of “Moderate Buy” and an average target price of $389.95.
View Our Latest Analysis on Microsoft
Microsoft Company Profile (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.
Further Reading
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Original: MarketBeat News Feed: Microsoft Co. (NASDAQ:MSFT) Shares Sold by Summitry LLC