Summit Financial Wealth Advisors LLC Cuts Position in Microsoft Corporation (MSFT)
Summit Financial Wealth Advisors LLC trimmed its position in Microsoft Corporation (NASDAQ:MSFT) by 6.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,062 shares of the software giant’s stock after selling 1,669 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Microsoft were worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSFT. Appropriate Balance Financial Services Inc. grew its position in shares of Microsoft by 4.7% during the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 643 shares of the software giant’s stock valued at $9,331,000 after acquiring an additional 29 shares during the period. Acrospire Investment Management LLC grew its position in shares of Microsoft by 300.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the software giant’s stock valued at $110,000 after acquiring an additional 1,200 shares during the period. Hefty Wealth Partners grew its position in shares of Microsoft by 65.6% during the 2nd quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock valued at $113,000 after acquiring an additional 653 shares during the period. Ullmann Financial Group Inc. acquired a new stake in shares of Microsoft during the 1st quarter valued at about $132,000. Finally, Stelac Advisory Services LLC grew its position in shares of Microsoft by 23.5% during the 2nd quarter. Stelac Advisory Services LLC now owns 2,033 shares of the software giant’s stock valued at $140,000 after acquiring an additional 387 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Microsoft Corporation (MSFT) opened at $84.16 on Friday. Microsoft Corporation has a 52-week low of $61.13 and a 52-week high of $86.20. The stock has a market cap of $636,380.00, a price-to-earnings ratio of 24.49, a PEG ratio of 1.93 and a beta of 0.99. The company has a quick ratio of 3.06, a current ratio of 3.12 and a debt-to-equity ratio of 0.91.
Microsoft (NASDAQ:MSFT) last released its quarterly earnings results on Thursday, October 26th. The software giant reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.12. The business had revenue of $24.50 billion during the quarter, compared to analyst estimates of $23.57 billion. Microsoft had a net margin of 24.56% and a return on equity of 35.23%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $0.76 EPS. research analysts forecast that Microsoft Corporation will post 3.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, February 14th. Microsoft’s payout ratio is 56.76%.
In other Microsoft news, insider Frank H. Brod sold 18,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $83.15, for a total transaction of $1,496,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher C. Capossela sold 4,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $83.46, for a total transaction of $333,840.00. Following the transaction, the executive vice president now directly owns 189,278 shares of the company’s stock, valued at $15,797,141.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,000 shares of company stock valued at $3,759,420. 1.49% of the stock is owned by company insiders.
A number of brokerages recently weighed in on MSFT. ValuEngine raised shares of Microsoft from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Morningstar reaffirmed a “neutral” rating on shares of Microsoft in a research note on Monday, October 16th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Microsoft in a research note on Thursday, August 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $88.00 price target (up from $85.00) on shares of Microsoft in a research note on Friday, October 27th. Finally, KeyCorp reissued a “buy” rating and issued a $82.00 target price on shares of Microsoft in a research note on Sunday, September 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Microsoft has a consensus rating of “Buy” and a consensus price target of $85.29.
Microsoft 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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