Microsoft Co. (NASDAQ:MSFT) Shares Sold by Summit Wealth & Retirement Planning Inc.

Summit Wealth & Retirement Planning Inc. lessened its holdings in Microsoft Co. (NASDAQ:MSFT) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,006 shares of the software giant’s stock after selling 682 shares during the quarter. Microsoft makes up about 0.8% of Summit Wealth & Retirement Planning Inc.’s investment portfolio, making the stock its 19th largest holding. Summit Wealth & Retirement Planning Inc.’s holdings in Microsoft were worth $1,882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Morris Financial Concepts Inc. raised its holdings in Microsoft by 0.9% during the 4th quarter. Morris Financial Concepts Inc. now owns 2,663 shares of the software giant’s stock worth $1,001,000 after buying an additional 25 shares during the period. Sicart Associates LLC raised its holdings in Microsoft by 2.9% during the 4th quarter. Sicart Associates LLC now owns 926 shares of the software giant’s stock worth $348,000 after buying an additional 26 shares during the period. Capital Wealth Management LLC raised its holdings in Microsoft by 1.7% during the 4th quarter. Capital Wealth Management LLC now owns 1,592 shares of the software giant’s stock worth $599,000 after buying an additional 26 shares during the period. Mayfair Advisory Group LLC raised its holdings in Microsoft by 0.7% during the 4th quarter. Mayfair Advisory Group LLC now owns 3,866 shares of the software giant’s stock worth $1,434,000 after buying an additional 27 shares during the period. Finally, Marmo Financial Group LLC raised its holdings in Microsoft by 2.8% during the 4th quarter. Marmo Financial Group LLC now owns 987 shares of the software giant’s stock worth $371,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 71.13% of the company’s stock.

Microsoft Stock Up 0.3 %

Shares of MSFT stock opened at $430.52 on Thursday. Microsoft Co. has a 12 month low of $309.45 and a 12 month high of $432.97. The firm has a market cap of $3.20 trillion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 2.25 and a beta of 0.89. The stock has a 50 day moving average of $416.05 and a 200-day moving average of $397.95. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.17.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, April 25th. The software giant reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. Microsoft had a return on equity of 37.54% and a net margin of 36.43%. The company had revenue of $61.86 billion during the quarter, compared to analyst estimates of $60.86 billion. During the same period in the previous year, the company earned $2.45 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities analysts predict that Microsoft Co. will post 11.77 EPS for the current year.

Microsoft Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, May 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.70%. Microsoft’s dividend payout ratio (DPR) is presently 25.97%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wedbush restated an “outperform” rating and set a $500.00 price objective on shares of Microsoft in a report on Wednesday. KeyCorp assumed coverage on Microsoft in a research note on Thursday, March 21st. They set an “overweight” rating and a $490.00 target price on the stock. DA Davidson reaffirmed a “buy” rating and set a $500.00 target price on shares of Microsoft in a research note on Friday, March 15th. Wells Fargo & Company lifted their target price on Microsoft from $480.00 to $500.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Evercore ISI lifted their target price on Microsoft from $475.00 to $485.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $454.70.

Insider Transactions at Microsoft

In related news, EVP Kathleen T. Hogan sold 21,955 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $403.96, for a total value of $8,868,941.80. Following the completion of the transaction, the executive vice president now directly owns 159,764 shares in the company, valued at $64,538,265.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company’s stock.

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.