Canaccord Genuity reaffirmed their buy rating on shares of Microsoft Corporation (NASDAQ:MSFT) in a research note released on Friday, Marketbeat Ratings reports. They currently have a $94.00 price target on the software giant’s stock, up from their previous price target of $86.00.
MSFT has been the subject of several other reports. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $88.00 price objective (up from $78.00) on shares of Microsoft Corporation in a research note on Tuesday, July 18th. Stifel Nicolaus reissued a buy rating and issued a $73.00 price objective on shares of Microsoft Corporation in a research note on Monday, July 17th. Credit Suisse Group reissued an outperform rating on shares of Microsoft Corporation in a research note on Thursday, August 31st. Wells Fargo & Company set a $82.50 price objective on Microsoft Corporation and gave the company a buy rating in a research note on Friday, July 21st. Finally, J P Morgan Chase & Co set a $64.00 target price on Microsoft Corporation and gave the stock a neutral rating in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-eight have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $81.40.
Shares of Microsoft Corporation (MSFT) traded down 0.02% during midday trading on Friday, reaching $83.79. 24,242,600 shares of the company traded hands. The stock has a 50 day moving average price of $76.09 and a 200 day moving average price of $72.00. The firm has a market capitalization of $645.37 billion, a PE ratio of 30.92 and a beta of 1.01. Microsoft Corporation has a 1-year low of $57.28 and a 1-year high of $86.20.
Microsoft Corporation (NASDAQ:MSFT) last posted its quarterly earnings data on Thursday, October 26th. The software giant reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Microsoft Corporation had a return on equity of 35.23% and a net margin of 24.56%. The firm had revenue of $24.50 billion during the quarter, compared to the consensus estimate of $23.57 billion. During the same period in the prior year, the company earned $0.76 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Analysts expect that Microsoft Corporation will post $3.35 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be given 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 is Wednesday, November 15th. This represents a $1.68 annualized dividend and a yield of 2.00%. Microsoft Corporation’s payout ratio is 53.06%.
In other news, insider Jean Philippe Courtois sold 26,763 shares of the business’s stock in a transaction that occurred 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 owns 537,519 shares of the company’s stock, valued at $39,776,406. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider G Mason Morfit sold 7,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $72.56, for a total value of $507,920,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 7,081,763 shares of company stock worth $513,899,512. Corporate insiders own 1.49% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Gierl Augustine Investment Management Inc increased its holdings in shares of Microsoft Corporation by 0.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 4,034 shares of the software giant’s stock valued at $266,000 after purchasing an additional 13 shares during the period. New Capital Management LP increased its holdings in shares of Microsoft Corporation by 0.5% in the first quarter. New Capital Management LP now owns 4,305 shares of the software giant’s stock valued at $284,000 after purchasing an additional 22 shares during the period. Nottingham Advisors Inc. increased its holdings in shares of Microsoft Corporation by 0.4% in the second quarter. Nottingham Advisors Inc. now owns 5,399 shares of the software giant’s stock valued at $372,000 after purchasing an additional 22 shares during the period. American Economic Planning Group Inc. ADV increased its holdings in shares of Microsoft Corporation by 0.5% in the second quarter. American Economic Planning Group Inc. ADV now owns 4,939 shares of the software giant’s stock valued at $340,000 after purchasing an additional 23 shares during the period. Finally, Carderock Capital Management Inc. increased its holdings in shares of Microsoft Corporation by 0.7% in the second quarter. Carderock Capital Management Inc. now owns 3,981 shares of the software giant’s stock valued at $274,000 after purchasing an additional 26 shares during the period. 73.35% of the stock is currently owned by institutional investors and hedge funds.
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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