Summit Wealth Partners LLC Has $2.89 Million Stock Holdings in Microsoft Co. (NASDAQ:MSFT)

Summit Wealth Partners LLC boosted its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 14.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,454 shares of the software giant’s stock after purchasing 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 modified their holdings of the business. Christopher J. Hasenberg Inc lifted its stake in shares of Microsoft by 169.2% in 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 during the last quarter. Quarry LP acquired a new position in shares of Microsoft in the 2nd quarter valued at $45,000. Innealta Capital LLC bought a new stake in shares of Microsoft in the 2nd quarter valued at approximately $75,000. Bellevue Group AG boosted its stake in shares of Microsoft by 47.5% in the 1st quarter. Bellevue Group AG now owns 180 shares of the software giant’s stock valued at $76,000 after purchasing an additional 58 shares in the last quarter. Finally, Bbjs Financial Advisors LLC grew its stake in Microsoft by 241.4% during the second quarter. Bbjs Financial Advisors LLC now owns 379 shares of the software giant’s stock worth $169,000 after buying an additional 268 shares during the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.

Microsoft Stock Down 2.8 %

Shares of MSFT opened at $415.00 on Friday. The firm’s 50 day moving average is $422.34 and its 200-day moving average is $425.53. Microsoft Co. has a 12 month low of $362.90 and a 12 month high of $468.35. 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 stock has a market capitalization of $3.09 trillion, a PE ratio of 34.24, a P/E/G ratio of 2.25 and a beta of 0.91.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Wednesday, October 30th. The software giant reported $3.30 EPS 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 company’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.99 earnings per share. Equities research analysts forecast that Microsoft Co. will post 12.94 EPS for the current year.

Microsoft announced that its board has approved a stock buyback plan on Monday, September 16th that permits the company to buyback $60.00 billion in shares. This buyback authorization permits the software giant to buy up to 1.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Microsoft Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.32 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Microsoft’s previous quarterly dividend of $0.75. Microsoft’s payout ratio is currently 27.39%.

Insider Activity

In other news, EVP Christopher David Young sold 7,200 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $43,792,039.56. The trade was a 6.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy Hood sold 38,000 shares of Microsoft stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $410.55, for a total transaction of $15,600,900.00. Following the completion of the sale, the chief financial officer now owns 496,369 shares of the company’s stock, valued at $203,784,292.95. This represents a 7.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,829 shares of company stock valued at $80,966,837. 0.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of Microsoft from $500.00 to $497.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley boosted their price objective on shares of Microsoft from $506.00 to $548.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and set a $500.00 target price on shares of Microsoft in a report on Tuesday, November 5th. TD Cowen dropped their target price on Microsoft from $495.00 to $475.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Wedbush reiterated an “underperform” rating on shares of Microsoft in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $503.03.

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.