Summit Financial Group Inc. Sells 1,491 Shares of Microsoft Co. (NASDAQ:MSFT)

Summit Financial Group Inc. decreased its holdings in shares of Microsoft Co. (NASDAQ:MSFTFree Report) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,814 shares of the software giant’s stock after selling 1,491 shares during the quarter. Microsoft makes up about 4.1% of Summit Financial Group Inc.’s holdings, making the stock its biggest position. Summit Financial Group Inc.’s holdings in Microsoft were worth $10,835,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. CGC Financial Services LLC boosted its holdings in shares of Microsoft by 7.9% during the 4th quarter. CGC Financial Services LLC now owns 2,415 shares of the software giant’s stock worth $908,000 after buying an additional 176 shares during the period. Rockline Wealth Management LLC bought a new stake in shares of Microsoft during the 4th quarter worth $17,376,000. Sara Bay Financial boosted its holdings in shares of Microsoft by 2.1% during the 4th quarter. Sara Bay Financial now owns 1,694 shares of the software giant’s stock worth $637,000 after buying an additional 35 shares during the period. Cedar Brook Financial Partners LLC boosted its holdings in shares of Microsoft by 2.6% during the 4th quarter. Cedar Brook Financial Partners LLC now owns 19,969 shares of the software giant’s stock worth $7,681,000 after buying an additional 511 shares during the period. Finally, First Bank & Trust boosted its holdings in shares of Microsoft by 0.7% during the 4th quarter. First Bank & Trust now owns 35,028 shares of the software giant’s stock worth $13,172,000 after buying an additional 247 shares during the period. Institutional investors and hedge funds own 71.13% of the company’s stock.

Microsoft Stock Up 0.9 %

Shares of NASDAQ MSFT opened at $424.57 on Tuesday. The firm has a market capitalization of $3.15 trillion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 2.24 and a beta of 0.89. The company has a current ratio of 1.22, a quick ratio of 1.20 and a debt-to-equity ratio of 0.19. Microsoft Co. has a 1 year low of $275.37 and a 1 year high of $430.82. The firm’s 50-day moving average is $411.26 and its 200-day moving average is $375.46.

Microsoft (NASDAQ:MSFTGet Free Report) last issued its earnings results on Tuesday, January 30th. The software giant reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.17. Microsoft had a net margin of 36.27% and a return on equity of 38.40%. The company had revenue of $62.02 billion for the quarter, compared to analyst estimates of $61.14 billion. During the same quarter last year, the firm earned $2.32 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities analysts expect that Microsoft Co. will post 11.63 EPS for the current year.

Microsoft Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, May 15th. Microsoft’s payout ratio is 27.12%.

Insider Buying and Selling

In related news, major shareholder Corp Microsoft sold 1,000,000 shares of Microsoft stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $1.95, for a total transaction of $1,950,000.00. Following the transaction, the insider now owns 11,677,398 shares of the company’s stock, valued at approximately $22,770,926.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Microsoft news, EVP Kathleen T. Hogan sold 21,955 shares of Microsoft stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $403.96, for a total value of $8,868,941.80. Following the transaction, the executive vice president now owns 159,764 shares of the company’s stock, valued at $64,538,265.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Corp Microsoft sold 1,000,000 shares of Microsoft stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $1.95, for a total transaction of $1,950,000.00. Following the completion of the transaction, the insider now directly owns 11,677,398 shares in the company, valued at approximately $22,770,926.10. The disclosure for this sale can be found here. Insiders have sold 1,070,258 shares of company stock valued at $30,690,456 in the last 90 days. 0.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MSFT. Piper Sandler reissued an “overweight” rating and issued a $455.00 price target on shares of Microsoft in a report on Thursday, January 25th. DA Davidson reissued a “buy” rating and issued a $500.00 price target on shares of Microsoft in a report on Friday, March 15th. KeyCorp began coverage on shares of Microsoft in a report on Thursday, March 21st. They issued an “overweight” rating and a $490.00 price target for the company. Jefferies Financial Group increased their price target on shares of Microsoft from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday. Finally, Argus increased their price target on shares of Microsoft from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, December 5th. Four research analysts have rated the stock with a hold rating and thirty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $425.52.

Get Our Latest Stock Analysis on MSFT

Microsoft Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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