Microsoft Corporation (NASDAQ:MSFT) had its price target raised by Canaccord Genuity from $68.00 to $76.00 in a report released on Friday, July 21st, Marketbeat Ratings reports. Canaccord Genuity currently has a hold rating on the software giant’s stock.
Several other research analysts have also commented on the stock. Royal Bank Of Canada set a $77.00 price objective on shares of Microsoft Corporation and gave the company a buy rating in a research note on Monday, July 10th. Raymond James Financial, Inc. reissued a strong-buy rating and issued a $77.00 price objective (up previously from $73.00) on shares of Microsoft Corporation in a research note on Monday, May 1st. Pacific Crest reaffirmed a buy rating and issued a $78.00 target price (up previously from $70.00) on shares of Microsoft Corporation in a report on Friday, April 28th. Vetr raised shares of Microsoft Corporation from a hold rating to a buy rating and set a $70.87 target price on the stock in a report on Wednesday, May 17th. Finally, Goldman Sachs Group, Inc. (The) raised their target price on shares of Microsoft Corporation from $72.00 to $78.00 and gave the company a buy rating in a report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-nine have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $76.26.
Shares of Microsoft Corporation (MSFT) traded up 0.12% during midday trading on Friday, reaching $72.49. 18,761,491 shares of the company were exchanged. The firm has a market capitalization of $558.34 billion, a P/E ratio of 26.75 and a beta of 1.01. Microsoft Corporation has a 52 week low of $55.61 and a 52 week high of $74.42. The firm has a 50-day moving average of $72.16 and a 200 day moving average of $68.26.
Microsoft Corporation (NASDAQ:MSFT) last posted its quarterly earnings data on Thursday, July 20th. The software giant reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.27. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The business had revenue of $24.70 billion during the quarter, compared to analyst estimates of $24.29 billion. During the same quarter last year, the firm posted $0.69 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Microsoft Corporation will post $3.21 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 17th will be given a dividend of $0.39 per share. 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%.
In other Microsoft Corporation news, insider Jean Philippe Courtois sold 26,165 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $69.00, for a total value of $1,805,385.00. Following the sale, the insider now directly owns 570,843 shares of the company’s stock, valued at $39,388,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher C. Capossela sold 4,927 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $68.75, for a total value of $338,731.25. Following the completion of the sale, the executive vice president now directly owns 214,080 shares in the company, valued at $14,718,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,057,855 shares of company stock worth $512,044,578. Corporate insiders own 2.99% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MSFT. Norges Bank acquired a new position in shares of Microsoft Corporation during the fourth quarter worth approximately $4,334,099,000. Capital Research Global Investors raised its position in shares of Microsoft Corporation by 212.3% in the second quarter. Capital Research Global Investors now owns 69,663,044 shares of the software giant’s stock worth $4,801,874,000 after buying an additional 47,353,245 shares during the period. Dodge & Cox acquired a new position in shares of Microsoft Corporation during the fourth quarter worth approximately $2,658,504,000. Janus Henderson Group PLC raised its position in shares of Microsoft Corporation by 609.4% in the second quarter. Janus Henderson Group PLC now owns 49,174,883 shares of the software giant’s stock worth $3,389,625,000 after buying an additional 42,243,011 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Microsoft Corporation by 4.6% in the second quarter. Vanguard Group Inc. now owns 564,052,011 shares of the software giant’s stock worth $38,880,105,000 after buying an additional 25,053,413 shares during the period. 72.64% of the stock is currently owned by institutional investors.
About Microsoft Corporation
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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