Summit Global Investments Sells 10,732 Shares of Microsoft Co. (NASDAQ:MSFT)

Summit Global Investments lessened its stake in Microsoft Co. (NASDAQ:MSFT - Free Report) by 24.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,055 shares of the software giant's stock after selling 10,732 shares during the quarter. Microsoft makes up approximately 0.9% of Summit Global Investments' portfolio, making the stock its 19th biggest holding. Summit Global Investments' holdings in Microsoft were worth $14,354,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MSFT. WFA Asset Management Corp grew its position in shares of Microsoft by 27.0% during the 1st quarter. WFA Asset Management Corp now owns 1,016 shares of the software giant's stock valued at $427,000 after purchasing an additional 216 shares in the last quarter. Ironwood Wealth Management LLC. lifted its stake in Microsoft by 0.3% in the second quarter. Ironwood Wealth Management LLC. now owns 12,658 shares of the software giant's stock worth $5,658,000 after purchasing an additional 38 shares during the last quarter. Discipline Wealth Solutions LLC lifted its stake in Microsoft by 410.4% in the third quarter. Discipline Wealth Solutions LLC now owns 2,659 shares of the software giant's stock worth $1,144,000 after purchasing an additional 2,138 shares during the last quarter. Swedbank AB lifted its stake in Microsoft by 0.4% in the third quarter. Swedbank AB now owns 13,689,356 shares of the software giant's stock worth $5,890,530,000 after purchasing an additional 49,288 shares during the last quarter. Finally, United Bank lifted its stake in Microsoft by 4.1% in the third quarter. United Bank now owns 18,378 shares of the software giant's stock worth $7,908,000 after purchasing an additional 730 shares during the last quarter. Institutional investors own 71.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MSFT shares. KeyCorp reissued a "sector weight" rating on shares of Microsoft in a research note on Thursday, April 17th. Tigress Financial increased their price target on shares of Microsoft from $550.00 to $595.00 and gave the company a "buy" rating in a report on Thursday, March 20th. UBS Group cut their price target on shares of Microsoft from $510.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays raised their target price on shares of Microsoft from $430.00 to $494.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Jefferies Financial Group increased their price target on shares of Microsoft from $475.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $513.13.

Microsoft Trading Up 0.0%

MSFT traded up $0.09 during trading on Friday, reaching $458.77. The company had a trading volume of 34,758,620 shares, compared to its average volume of 21,504,528. The firm's 50-day simple moving average is $409.00 and its 200 day simple moving average is $415.04. The company has a market cap of $3.41 trillion, a price-to-earnings ratio of 36.94, a PEG ratio of 2.21 and a beta of 0.99. Microsoft Co. has a 12-month low of $344.79 and a 12-month high of $468.35. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.34 and a current ratio of 1.35.

Microsoft (NASDAQ:MSFT - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $70.07 billion during the quarter, compared to analyst estimates of $68.54 billion. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. The firm's revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.94 EPS. Equities research analysts anticipate that Microsoft Co. will post 13.08 earnings per share for the current year.

Microsoft Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Thursday, May 15th. Microsoft's dividend payout ratio is presently 25.66%.

Insider Activity

In other Microsoft news, EVP Kathleen T. Hogan sold 21,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $453.77, for a total value of $9,756,055.00. Following the transaction, the executive vice president now owns 134,888 shares of the company's stock, valued at approximately $61,208,127.76. This represents a 13.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bradford L. Smith sold 75,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $436.05, for a total value of $32,703,750.00. Following the completion of the transaction, the insider now directly owns 476,999 shares in the company, valued at $207,995,413.95. The trade was a 13.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,743 shares of company stock worth $58,375,673. 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.