Canaccord Genuity upgraded shares of Microsoft Corporation (NASDAQ:MSFT) from a hold rating to a buy rating in a research report sent to investors on Thursday, October 5th, Marketbeat reports. Canaccord Genuity currently has $86.00 price target on the software giant’s stock, up from their previous price target of $76.00.
Other research analysts also recently issued research reports about the company. Zacks Investment Research raised Microsoft Corporation from a hold rating to a buy rating and set a $78.00 price target for the company in a research note on Wednesday, July 12th. BidaskClub raised shares of Microsoft Corporation from a hold rating to a buy rating in a research note on Tuesday, July 11th. 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. Stifel Nicolaus reiterated a buy rating and set a $73.00 target price on shares of Microsoft Corporation in a report on Sunday, July 9th. Finally, Morningstar, Inc. restated a buy rating on shares of Microsoft Corporation in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $77.44.
Shares of Microsoft Corporation (NASDAQ MSFT) opened at 77.59 on Thursday. The stock’s 50 day moving average is $74.73 and its 200 day moving average is $71.14. The company has a market capitalization of $597.62 billion, a P/E ratio of 28.63 and a beta of 1.01. Microsoft Corporation has a 12 month low of $56.66 and a 12 month high of $77.87.
Microsoft Corporation (NASDAQ:MSFT) last issued its earnings results on Thursday, July 20th. The software giant reported $0.98 EPS for the quarter, topping the consensus estimate of $0.71 by $0.27. The company had revenue of $24.70 billion for the quarter, compared to analyst estimates of $24.29 billion. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. On average, equities analysts predict that Microsoft Corporation will post $3.20 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.68 dividend on an annualized basis and a yield of 2.17%. This is an increase from Microsoft Corporation’s previous quarterly dividend of $0.39. Microsoft Corporation’s dividend payout ratio is currently 57.78%.
In other 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 value of $3,999,050.00. Following the completion of the transaction, the chief financial officer now directly owns 510,217 shares in the company, valued at approximately $37,097,878.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jean Philippe Courtois sold 26,763 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $74.00, for a total value of $1,980,462.00. Following the completion of the transaction, the insider now owns 537,519 shares of the company’s stock, valued at $39,776,406. The disclosure for this sale can be found here. Insiders have sold 7,108,526 shares of company stock worth $515,879,974 in the last three months. 2.99% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in MSFT. Confluence Investment Management LLC raised its position in Microsoft Corporation by 4.1% during the 1st quarter. Confluence Investment Management LLC now owns 1,442,904 shares of the software giant’s stock worth $95,030,000 after purchasing an additional 57,114 shares during the last quarter. West Oak Capital LLC raised its position 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 worth $737,000 after acquiring an additional 971 shares in the last quarter. Acropolis Investment Management LLC raised its position 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 worth $2,442,000 after acquiring an additional 239 shares in the last quarter. Catawba Capital Management VA raised its position 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 worth $11,565,000 after acquiring an additional 462 shares in the last quarter. Finally, Trust Co raised its position 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 worth $9,115,000 after acquiring an additional 2,440 shares in the last quarter. 73.37% of the stock is 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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