Royal Bank Of Canada set a $85.00 price objective on Microsoft Corporation (NASDAQ:MSFT) in a research report report published on Wednesday. The brokerage currently has a buy rating on the software giant’s stock.
Several other equities research analysts have also recently issued reports on the company. Morningstar, Inc. reiterated a neutral rating on shares of Microsoft Corporation in a research note on Monday, October 16th. Stifel Nicolaus restated a buy rating on shares of Microsoft Corporation in a research report on Thursday, October 12th. Canaccord Genuity upgraded shares of Microsoft Corporation from a hold rating to a buy rating and boosted their price objective for the company from $76.00 to $86.00 in a research report on Thursday, October 5th. ValuEngine downgraded shares of Microsoft Corporation from a buy rating to a hold rating in a research report on Monday, October 2nd. Finally, Oppenheimer Holdings, Inc. set a $80.00 price objective on shares of Microsoft Corporation and gave the company a buy rating in a research report on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $77.66.
Shares of Microsoft Corporation (MSFT) traded up 1.16% during trading on Wednesday, hitting $78.81. The stock had a trading volume of 22,866,426 shares. The stock has a market capitalization of $607.01 billion, a P/E ratio of 29.08 and a beta of 1.01. Microsoft Corporation has a 12-month low of $57.28 and a 12-month high of $78.97. The stock’s 50-day moving average is $75.30 and its 200-day moving average is $71.50.
Microsoft Corporation (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.27. The business had revenue of $24.70 billion during the quarter, compared to analysts’ expectations of $24.29 billion. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. The firm’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 company posted $0.69 earnings per share. Analysts predict that Microsoft Corporation will post $3.19 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.68 annualized dividend and a yield of 2.13%. This is a positive change from Microsoft Corporation’s previous quarterly dividend of $0.39. Microsoft Corporation’s payout ratio is presently 57.78%.
In other 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 value of $3,999,050.00. Following the transaction, the chief financial officer now owns 510,217 shares in the company, valued at $37,097,878.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider G Mason Morfit sold 7,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $72.56, for a total transaction of $507,920,000.00. 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 insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Gierl Augustine Investment Management Inc lifted its stake 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 worth $266,000 after buying an additional 13 shares in the last quarter. New Capital Management LP raised its holdings in shares of Microsoft Corporation by 0.5% during 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 last quarter. Nottingham Advisors Inc. raised its holdings in shares of Microsoft Corporation by 0.4% during 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 last quarter. American Economic Planning Group Inc. ADV raised its holdings in shares of Microsoft Corporation by 0.5% during 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 last quarter. Finally, Carderock Capital Management Inc. raised its holdings in shares of Microsoft Corporation by 0.7% during 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 last quarter. Hedge funds and other institutional investors own 73.37% 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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