Microsoft Corp. (MSFT) Given “Outperform” Rating at Credit Agricole SA
Credit Agricole SA reissued their outperform rating on shares of Microsoft Corp. (NASDAQ:MSFT) in a report issued on Wednesday morning. Credit Agricole SA currently has a $60.00 target price on the software giant’s stock.
A number of other brokerages have also recently issued reports on MSFT. Sanford C. Bernstein set a $68.00 target price on shares of Microsoft Corp. and gave the company a buy rating in a report on Friday, July 15th. Jefferies Group set a $40.00 target price on shares of Microsoft Corp. and gave the company a sell rating in a report on Tuesday, September 27th. Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $62.00 price target on shares of Microsoft Corp. in a report on Friday, July 22nd. Argus reaffirmed a hold rating on shares of Microsoft Corp. in a report on Monday, July 25th. Finally, Canaccord Genuity reaffirmed a hold rating and issued a $55.00 price target on shares of Microsoft Corp. in a report on Wednesday, June 15th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company’s stock. Microsoft Corp. currently has a consensus rating of Buy and an average target price of $59.41.
Microsoft Corp. (NASDAQ:MSFT) traded up 0.33% during mid-day trading on Wednesday, hitting $57.83. The company’s stock had a trading volume of 7,321,656 shares. The firm has a 50 day moving average of $57.47 and a 200-day moving average of $54.28. Microsoft Corp. has a 52-week low of $46.50 and a 52-week high of $58.70. The firm has a market cap of $450.64 billion, a price-to-earnings ratio of 27.54 and a beta of 1.09.
Microsoft Corp. (NASDAQ:MSFT) last issued its earnings results on Tuesday, July 19th. The software giant reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.11. Microsoft Corp. had a net margin of 19.33% and a return on equity of 29.38%. The business had revenue of $22.60 billion for the quarter, compared to analysts’ expectations of $22.15 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. On average, equities research analysts expect that Microsoft Corp. will post $2.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be paid a dividend of $0.39 per share. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 2.71%. Microsoft Corp.’s dividend payout ratio is presently 70.24%.
In other news, Director William H. Gates III sold 2,500,000 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $55.94, for a total value of $139,850,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Satya Nadella sold 143,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $57.97, for a total transaction of $8,289,710.00. Following the completion of the sale, the chief executive officer now directly owns 1,200,822 shares in the company, valued at $69,611,651.34. The disclosure for this sale can be found here. Company insiders own 3.76% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MSFT. Emerald Acquisition Ltd. purchased a new stake in shares of Microsoft Corp. during the second quarter worth about $699,840,000. Janus Capital Management LLC increased its stake in shares of Microsoft Corp. by 40.2% in the second quarter. Janus Capital Management LLC now owns 41,604,434 shares of the software giant’s stock worth $2,128,899,000 after buying an additional 11,937,675 shares during the period. Vanguard Group Inc. increased its stake in shares of Microsoft Corp. by 1.7% in the second quarter. Vanguard Group Inc. now owns 504,208,409 shares of the software giant’s stock worth $25,800,344,000 after buying an additional 8,371,988 shares during the period. Franklin Resources Inc. increased its stake in shares of Microsoft Corp. by 7.8% in the second quarter. Franklin Resources Inc. now owns 93,704,245 shares of the software giant’s stock worth $4,794,838,000 after buying an additional 6,760,471 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of Microsoft Corp. during the first quarter worth about $370,367,000. 71.58% of the stock is currently owned by institutional investors and hedge funds.
About Microsoft Corp.
Microsoft Corporation is a technology company. The Company develops, licenses and supports a range of software products, services and devices. Its segments are Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Its 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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