Summit Financial Group Inc. Purchases Shares of 41,659 Microsoft Corporation (MSFT)
Summit Financial Group Inc. purchased a new position in shares of Microsoft Corporation (NASDAQ:MSFT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 41,659 shares of the software giant’s stock, valued at approximately $2,869,000. Microsoft Corporation comprises 2.5% of Summit Financial Group Inc.’s holdings, making the stock its 6th largest position.
A number of other hedge funds and other institutional investors have also made changes to their positions in MSFT. State Street Corp increased its position in shares of Microsoft Corporation by 0.8% during the first quarter. State Street Corp now owns 318,681,830 shares of the software giant’s stock worth $20,988,383,000 after purchasing an additional 2,552,473 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Microsoft Corporation by 2.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 28,965,189 shares of the software giant’s stock worth $1,907,648,000 after purchasing an additional 638,798 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Microsoft Corporation by 1.1% during the first quarter. Fisher Asset Management LLC now owns 18,652,532 shares of the software giant’s stock worth $1,228,456,000 after purchasing an additional 199,259 shares in the last quarter. Pioneer Investment Management Inc. increased its position in shares of Microsoft Corporation by 6.4% during the second quarter. Pioneer Investment Management Inc. now owns 16,447,634 shares of the software giant’s stock worth $1,133,736,000 after purchasing an additional 996,006 shares in the last quarter. Finally, Sanders Capital LLC increased its position in shares of Microsoft Corporation by 2.4% during the second quarter. Sanders Capital LLC now owns 12,143,596 shares of the software giant’s stock worth $924,807,000 after purchasing an additional 287,200 shares in the last quarter. 73.37% of the stock is owned by institutional investors.
A number of analysts have recently commented on MSFT shares. ValuEngine upgraded Microsoft Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Canaccord Genuity reiterated a “buy” rating and set a $94.00 target price (up previously from $86.00) on shares of Microsoft Corporation in a research report on Friday, October 27th. Atlantic Securities set a $83.00 target price on Microsoft Corporation and gave the stock a “neutral” rating in a research report on Friday, October 27th. UBS AG set a $105.00 target price on Microsoft Corporation and gave the stock a “buy” rating in a research report on Thursday, November 9th. Finally, Barclays PLC reiterated an “overweight” rating and set a $89.00 target price (up previously from $82.00) on shares of Microsoft Corporation in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $84.21.
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Microsoft Corporation (NASDAQ MSFT) opened at $82.40 on Friday. Microsoft Corporation has a 52 week low of $58.80 and a 52 week high of $86.20. The firm has a market capitalization of $635,682.19, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The company has a current ratio of 3.12, a quick ratio of 3.06 and a debt-to-equity ratio of 0.91.
Microsoft Corporation (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, October 26th. The software giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. Microsoft Corporation had a return on equity of 35.23% and a net margin of 24.56%. The company had revenue of $24.50 billion for the quarter, compared to analyst estimates of $23.57 billion. During the same quarter in the prior year, the company posted $0.76 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. sell-side analysts expect that Microsoft Corporation will post 3.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Wednesday, November 15th. This is a positive change from Microsoft Corporation’s previous quarterly dividend of $0.39. Microsoft Corporation’s dividend payout ratio is currently 57.14%.
In other Microsoft Corporation news, CFO Amy Hood sold 55,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $72.71, for a total transaction of $3,999,050.00. Following the transaction, the chief financial officer now owns 510,217 shares of the company’s stock, valued at approximately $37,097,878.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jean Philippe Courtois sold 26,763 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $74.00, for a total value of $1,980,462.00. Following the transaction, the insider now directly owns 537,519 shares in the company, valued at approximately $39,776,406. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,763 shares of company stock worth $7,908,472. Corporate insiders own 1.49% of the company’s stock.
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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