Canaccord Genuity upgraded shares of Microsoft Corporation (NASDAQ:MSFT) from a hold rating to a buy rating in a research note released on Thursday morning, MarketBeat reports. The brokerage currently has $86.00 target price on the software giant’s stock, up from their previous target price of $76.00.
A number of other brokerages also recently issued reports on MSFT. Royal Bank Of Canada set a $77.00 price target on shares of Microsoft Corporation and gave the company a buy rating in a report on Monday, September 18th. Stifel Nicolaus reiterated a buy rating and issued a $80.00 price target on shares of Microsoft Corporation in a report on Monday, September 18th. Vetr downgraded shares of Microsoft Corporation from a buy rating to a hold rating and set a $74.32 target price on the stock. in a report on Tuesday, September 12th. ValuEngine downgraded shares of Microsoft Corporation from a buy rating to a hold rating in a report on Monday, October 2nd. Finally, Oppenheimer Holdings, Inc. set a $80.00 target price on shares of Microsoft Corporation and gave the stock a buy rating in a report on Monday, September 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-nine have issued a buy rating to the company. Microsoft Corporation currently has a consensus rating of Buy and a consensus target price of $77.44.
Microsoft Corporation (NASDAQ MSFT) traded up 0.04% on Thursday, hitting $76.00. 13,959,814 shares of the stock traded hands. The company’s 50 day moving average price is $74.09 and its 200-day moving average price is $70.63. The stock has a market cap of $585.37 billion, a price-to-earnings ratio of 28.04 and a beta of 1.01. Microsoft Corporation has a 52-week low of $56.32 and a 52-week high of $76.12. Microsoft Corporation also saw some unusual options trading activity on Thursday. Investors purchased 46,917 call options on the company. This represents an increase of 117% compared to the typical daily volume of 21,578 call options.
Microsoft Corporation (NASDAQ:MSFT) last announced its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.27. The company had revenue of $24.70 billion for the quarter, compared to the consensus estimate of $24.29 billion. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. Microsoft Corporation’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. On average, analysts forecast that Microsoft Corporation will post $3.20 earnings per share for the current fiscal year.
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The business 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 is a positive change from Microsoft Corporation’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.68 dividend on an annualized basis and a yield of 2.21%. Microsoft Corporation’s dividend payout ratio is presently 57.78%.
In other Microsoft Corporation news, CFO Amy Hood sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were 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 in the company, valued at approximately $37,097,878.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jean Philippe Courtois sold 26,763 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $74.00, for a total transaction of $1,980,462.00. Following the transaction, the insider now owns 544,080 shares in the company, valued at approximately $40,261,920. The disclosure for this sale can be found here. Insiders have sold a total of 7,108,526 shares of company stock worth $515,879,974 in the last 90 days. 2.99% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. Confluence Investment Management LLC boosted its holdings in shares of Microsoft Corporation by 4.1% in the 1st quarter. Confluence Investment Management LLC now owns 1,442,904 shares of the software giant’s stock valued at $95,030,000 after acquiring an additional 57,114 shares during the last quarter. West Oak Capital LLC boosted its holdings in shares of Microsoft Corporation by 9.5% in the 1st quarter. West Oak Capital LLC now owns 11,193 shares of the software giant’s stock valued at $737,000 after acquiring an additional 971 shares during the last quarter. Acropolis Investment Management LLC boosted its holdings in shares of Microsoft Corporation by 0.6% in the 1st quarter. Acropolis Investment Management LLC now owns 37,080 shares of the software giant’s stock valued at $2,442,000 after acquiring an additional 239 shares during the last quarter. Catawba Capital Management VA boosted its holdings in shares of Microsoft Corporation by 0.3% in the 1st quarter. Catawba Capital Management VA now owns 175,606 shares of the software giant’s stock valued at $11,565,000 after acquiring an additional 462 shares during the last quarter. Finally, Trust Co boosted its holdings in shares of Microsoft Corporation by 1.7% in the 4th quarter. Trust Co now owns 146,671 shares of the software giant’s stock valued at $9,115,000 after acquiring an additional 2,440 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.
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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