Summit X LLC Purchases 860 Shares of Microsoft Co. (NASDAQ:MSFT)

Summit X LLC grew its stake in Microsoft Co. (NASDAQ:MSFT) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,837 shares of the software giant’s stock after purchasing an additional 860 shares during the quarter. Microsoft makes up approximately 2.0% of Summit X LLC’s investment portfolio, making the stock its 14th largest holding. Summit X LLC’s holdings in Microsoft were worth $9,206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth High Governance Capital Ltda acquired a new position in shares of Microsoft in the fourth quarter valued at about $10,521,000. Windle Wealth LLC grew its stake in shares of Microsoft by 4.5% in the fourth quarter. Windle Wealth LLC now owns 21,256 shares of the software giant’s stock valued at $8,959,000 after acquiring an additional 908 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of Microsoft by 0.9% in the fourth quarter. Moors & Cabot Inc. now owns 222,876 shares of the software giant’s stock valued at $93,942,000 after acquiring an additional 2,025 shares in the last quarter. Bender Robert & Associates grew its stake in shares of Microsoft by 1.8% in the fourth quarter. Bender Robert & Associates now owns 20,199 shares of the software giant’s stock valued at $8,514,000 after acquiring an additional 348 shares in the last quarter. Finally, Warburton Capital Management LLC acquired a new stake in Microsoft during the fourth quarter worth about $1,109,000. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Microsoft Stock Up 0.3%

Shares of NASDAQ MSFT opened at $454.27 on Monday. The company has a 50 day simple moving average of $395.33 and a 200 day simple moving average of $412.34. The firm has a market cap of $3.38 trillion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Microsoft Co. has a 1 year low of $344.79 and a 1 year high of $468.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.34.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings data on Wednesday, April 30th. The software giant reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.24. The business had revenue of $70.07 billion during the quarter, compared to analyst estimates of $68.54 billion. Microsoft had a net margin of 35.43% and a return on equity of 33.36%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business earned $2.94 EPS. On average, research analysts forecast that Microsoft Co. will post 13.08 EPS for the current year.

Microsoft Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 15th will be issued a $0.83 dividend. The ex-dividend date is Thursday, May 15th. This represents a $3.32 dividend on an annualized basis and a yield of 0.73%. Microsoft’s dividend payout ratio (DPR) is presently 25.66%.

Insiders Place Their Bets

In other Microsoft news, EVP Amy Coleman sold 13,243 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $452.01, for a total transaction of $5,985,968.43. Following the completion of the transaction, the executive vice president now owns 43,100 shares in the company, valued at approximately $19,481,631. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradford L. Smith sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $436.05, for a total transaction of $32,703,750.00. Following the transaction, the insider now owns 476,999 shares of the company’s stock, valued at approximately $207,995,413.95. The trade was a 13.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,243 shares of company stock worth $41,288,738. 0.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MSFT shares. Tigress Financial increased their price objective on shares of Microsoft from $550.00 to $595.00 and gave the stock a “buy” rating in a research note on Thursday, March 20th. Bank of America reduced their price objective on shares of Microsoft from $510.00 to $480.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. UBS Group reduced their price objective on shares of Microsoft from $510.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group increased their price objective on shares of Microsoft from $450.00 to $480.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets increased their price objective on shares of Microsoft from $470.00 to $485.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $510.30.

Microsoft 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.