Summit Street Capital Management LLC Continues to Hold Position in Microsoft Corporation (NASDAQ:MSFT)
Summit Street Capital Management LLC maintained its stake in shares of Microsoft Corporation (NASDAQ:MSFT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,163 shares of the software giant’s stock at the end of the first quarter. Microsoft Corporation comprises 2.2% of Summit Street Capital Management LLC’s holdings, making the stock its 22nd largest position. Summit Street Capital Management LLC’s holdings in Microsoft Corporation were worth $2,052,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Asset Planning Services Ltd. increased its stake in shares of Microsoft Corporation by 93.0% in the first quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock valued at $114,000 after buying an additional 837 shares during the period. Pacific Center for Financial Services purchased a new stake in shares of Microsoft Corporation during the fourth quarter valued at approximately $155,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Microsoft Corporation during the fourth quarter valued at approximately $161,000. Northwest Quadrant Wealth Management LLC purchased a new stake in shares of Microsoft Corporation during the fourth quarter valued at approximately $205,000. Finally, Arcus Capital Partners LLC purchased a new stake in shares of Microsoft Corporation during the first quarter valued at approximately $205,000. Institutional investors and hedge funds own 72.86% of the company’s stock.
Microsoft Corporation (NASDAQ MSFT) traded down 0.95% on Thursday, reaching $71.78. 3,780,797 shares of the company traded hands. The firm has a 50 day moving average of $71.61 and a 200-day moving average of $67.86. The stock has a market capitalization of $552.87 billion, a PE ratio of 26.49 and a beta of 1.01. Microsoft Corporation has a one year low of $55.61 and a one year high of $74.42.
Microsoft Corporation (NASDAQ:MSFT) last released its quarterly earnings data on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.27. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. The company had revenue of $24.70 billion during the quarter, compared to the consensus estimate of $24.29 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, analysts anticipate that Microsoft Corporation will post $3.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 17th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, August 15th. Microsoft Corporation’s dividend payout ratio is currently 57.78%.
Several equities research analysts recently commented on the stock. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $78.00 price target on shares of Microsoft Corporation in a research report on Tuesday, May 9th. Bank of America Corporation restated a “buy” rating and issued a $75.00 price target on shares of Microsoft Corporation in a research report on Friday, June 16th. Cowen and Company upped their price target on shares of Microsoft Corporation from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Vetr upgraded shares of Microsoft Corporation from a “hold” rating to a “buy” rating and set a $74.61 price target for the company in a research report on Monday, June 12th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $73.00 price target on shares of Microsoft Corporation in a research report on Monday, July 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Microsoft Corporation has an average rating of “Buy” and a consensus price target of $76.15.
In other Microsoft Corporation news, EVP Christopher C. Capossela sold 4,927 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $68.75, for a total transaction of $338,731.25. Following the completion of the sale, the executive vice president now owns 214,080 shares of the company’s stock, valued at approximately $14,718,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jean Philippe Courtois sold 26,165 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $69.00, for a total transaction of $1,805,385.00. Following the sale, the insider now directly owns 570,843 shares of the company’s stock, valued at approximately $39,388,167. The disclosure for this sale can be found here. Insiders sold 7,060,855 shares of company stock valued at $512,251,908 in the last ninety days. 2.99% of the stock is currently owned by insiders.
Microsoft Corporation Company Profile
Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.
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