Summit Asset Management LLC raised its stake in Microsoft Co. (NASDAQ:MSFT – Free Report) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,767 shares of the software giant’s stock after buying an additional 743 shares during the quarter. Microsoft comprises about 1.4% of Summit Asset Management LLC’s portfolio, making the stock its 18th biggest holding. Summit Asset Management LLC’s holdings in Microsoft were worth $7,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Bouvel Investment Partners LLC lifted its stake in Microsoft by 0.5% during the third quarter. Bouvel Investment Partners LLC now owns 19,467 shares of the software giant’s stock worth $8,376,000 after purchasing an additional 101 shares in the last quarter. ROI Financial Advisors LLC lifted its stake in Microsoft by 2.0% during the 3rd quarter. ROI Financial Advisors LLC now owns 16,949 shares of the software giant’s stock worth $7,293,000 after acquiring an additional 340 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in Microsoft by 2.6% during the 3rd quarter. Plato Investment Management Ltd now owns 162,799 shares of the software giant’s stock valued at $69,982,000 after acquiring an additional 4,161 shares during the period. Cable Hill Partners LLC grew its position in Microsoft by 9.7% in the 3rd quarter. Cable Hill Partners LLC now owns 22,293 shares of the software giant’s stock valued at $9,593,000 after acquiring an additional 1,980 shares in the last quarter. Finally, Bell Bank increased its stake in Microsoft by 1.2% during the third quarter. Bell Bank now owns 34,284 shares of the software giant’s stock worth $14,752,000 after purchasing an additional 408 shares during the period. 71.13% of the stock is currently owned by institutional investors and hedge funds.
Microsoft Price Performance
Shares of NASDAQ MSFT opened at $429.03 on Friday. 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 cap of $3.19 trillion, a P/E ratio of 35.40, a P/E/G ratio of 2.22 and a beta of 0.90. The stock has a 50 day moving average of $429.32 and a two-hundred day moving average of $426.58. Microsoft Co. has a twelve month low of $385.58 and a twelve month high of $468.35.
Microsoft Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, February 20th. Microsoft’s dividend payout ratio (DPR) is presently 27.39%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on MSFT shares. JPMorgan Chase & Co. lowered their price objective on shares of Microsoft from $470.00 to $465.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. UBS Group raised their price target on shares of Microsoft from $500.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. BMO Capital Markets cut their price objective on Microsoft from $500.00 to $495.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group decreased their target price on Microsoft from $515.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Citigroup cut their price target on Microsoft from $500.00 to $497.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Microsoft presently has a consensus rating of “Moderate Buy” and a consensus price target of $512.93.
View Our Latest Report on Microsoft
Insider Buying and Selling at Microsoft
In other news, EVP Judson Althoff sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 117,294 shares of the company’s stock, valued at approximately $48,911,598. The trade was a 17.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Takeshi Numoto sold 1,000 shares of Microsoft stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $414.72, for a total transaction of $414,720.00. Following the completion of the transaction, the chief marketing officer now owns 57,511 shares in the company, valued at approximately $23,850,961.92. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,200 shares of company stock valued at $17,383,892 in the last ninety days. Insiders own 0.03% of the company’s stock.
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.
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