Summit Financial Wealth Advisors LLC Cuts Holdings in Microsoft Co. (MSFT)
Summit Financial Wealth Advisors LLC reduced its stake in shares of Microsoft Co. (NASDAQ:MSFT) by 10.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,518 shares of the software giant’s stock after selling 2,544 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Microsoft were worth $1,603,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. River Wealth Advisors LLC lifted its holdings in Microsoft by 6.4% in the second quarter. River Wealth Advisors LLC now owns 25,130 shares of the software giant’s stock valued at $1,732,000 after acquiring an additional 1,517 shares during the last quarter. Northeast Financial Consultants Inc lifted its holdings in Microsoft by 17.4% in the second quarter. Northeast Financial Consultants Inc now owns 10,100 shares of the software giant’s stock valued at $696,000 after acquiring an additional 1,500 shares during the last quarter. One Capital Management LLC lifted its holdings in Microsoft by 5.0% in the second quarter. One Capital Management LLC now owns 56,671 shares of the software giant’s stock valued at $3,906,000 after acquiring an additional 2,675 shares during the last quarter. JLB & Associates Inc. acquired a new position in Microsoft in the second quarter valued at approximately $10,873,000. Finally, First National Bank Sioux Falls lifted its holdings in Microsoft by 9.6% in the second quarter. First National Bank Sioux Falls now owns 15,629 shares of the software giant’s stock valued at $1,078,000 after acquiring an additional 1,365 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.
In other news, insider Frank H. Brod sold 18,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $83.15, for a total transaction of $1,496,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christopher C. Capossela sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $83.44, for a total value of $333,760.00. Following the sale, the executive vice president now directly owns 184,278 shares in the company, valued at approximately $15,376,156.32. The disclosure for this sale can be found here. Insiders have sold 26,000 shares of company stock worth $2,164,380 in the last ninety days. Corporate insiders own 1.49% of the company’s stock.
Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Wednesday, January 31st. The software giant reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. Microsoft had a return on equity of 35.41% and a net margin of 11.72%. The business had revenue of $28.92 billion for the quarter, compared to analyst estimates of $28.42 billion. During the same quarter in the prior year, the company earned $0.83 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. research analysts forecast that Microsoft Co. will post 3.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Wednesday, February 14th. Microsoft’s dividend payout ratio is currently 114.29%.
A number of research analysts recently commented on the company. Zacks Investment Research cut Microsoft from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Vetr upgraded Microsoft from a “buy” rating to a “strong-buy” rating and set a $95.92 price objective on the stock in a report on Monday. ValuEngine upgraded Microsoft from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Credit Suisse Group reiterated a “buy” rating and issued a $95.00 price objective on shares of Microsoft in a report on Friday, October 27th. Finally, Morgan Stanley set a $88.00 price objective on Microsoft and gave the company a “buy” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $99.14.
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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