Summit Global Investments Has $7.37 Million Holdings in Microsoft Corporation (NASDAQ:MSFT)

Summit Global Investments lessened its stake in Microsoft Corporation (NASDAQ:MSFT - Free Report) by 42.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,644 shares of the software giant's stock after selling 14,411 shares during the quarter. Summit Global Investments' holdings in Microsoft were worth $7,374,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. GoalVest Advisory LLC increased its holdings in Microsoft by 6.6% in the first quarter. GoalVest Advisory LLC now owns 11,692 shares of the software giant's stock valued at $4,389,000 after purchasing an additional 724 shares during the last quarter. GAMMA Investing LLC grew its stake in Microsoft by 40,290.4% in the first quarter. GAMMA Investing LLC now owns 46,695,303 shares of the software giant's stock valued at $17,528,950,000 after acquiring an additional 46,579,693 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Microsoft by 0.9% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 28,753 shares of the software giant's stock valued at $10,794,000 after acquiring an additional 263 shares during the period. AdvisorNet Financial Inc grew its stake in Microsoft by 1.2% in the first quarter. AdvisorNet Financial Inc now owns 59,713 shares of the software giant's stock valued at $22,416,000 after acquiring an additional 689 shares during the period. Finally, Howard Financial Services LTD. grew its stake in Microsoft by 2.7% in the first quarter. Howard Financial Services LTD. now owns 24,443 shares of the software giant's stock valued at $9,176,000 after acquiring an additional 645 shares during the period. Institutional investors own 71.13% of the company's stock.

Analyst Upgrades and Downgrades

MSFT has been the subject of a number of research analyst reports. Bank of America decreased their target price on Microsoft from $510.00 to $480.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. BMO Capital Markets reissued an "outperform" rating on shares of Microsoft in a research note on Wednesday, May 21st. Piper Sandler reissued an "overweight" rating on shares of Microsoft in a research note on Wednesday, May 21st. The Goldman Sachs Group boosted their target price on Microsoft from $480.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $525.00 target price on shares of Microsoft in a research note on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $519.43.

Microsoft Stock Performance

MSFT opened at $492.27 on Thursday. Microsoft Corporation has a 52-week low of $344.79 and a 52-week high of $494.56. The firm has a market capitalization of $3.66 trillion, a PE ratio of 38.04, a PEG ratio of 2.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.36 and a current ratio of 1.37. The business's 50-day simple moving average is $444.31 and its 200 day simple moving average is $421.40.

Microsoft (NASDAQ:MSFT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The software giant reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.24. The firm had revenue of $70.07 billion for the quarter, compared to analyst estimates of $68.54 billion. Microsoft had a return on equity of 32.74% and a net margin of 35.79%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.94 earnings per share. As a group, sell-side analysts expect that Microsoft Corporation will post 13.08 earnings per share for the current fiscal year.

Microsoft Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a $0.83 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $3.32 annualized dividend and a yield of 0.67%. Microsoft's dividend payout ratio is 25.66%.

Insider Buying and Selling at Microsoft

In other Microsoft news, insider Bradford L. Smith sold 75,000 shares of the company'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 value of $32,703,750.00. Following the sale, the insider now owns 476,999 shares in the company, valued at $207,995,413.95. This represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Amy Coleman sold 13,243 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $452.01, for a total value of $5,985,968.43. Following 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 disclosure for this sale can be found here. Insiders have sold 135,743 shares of company stock worth $60,224,683 over the last 90 days. Company 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.

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