Microsoft (NASDAQ:MSFT) Stock Price Down 1.4% – Here’s What Happened

Shares of Microsoft Corporation (NASDAQ:MSFTGet Free Report) dropped 1.4% during mid-day trading on Wednesday . The stock traded as low as $381.33 and last traded at $383.34. 24,775,102 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 37,825,523 shares. The stock had previously closed at $388.84.

Microsoft News Summary

Here are the key news stories impacting Microsoft this week:

Wall Street Analysts Forecast Growth

A number of analysts have commented on MSFT shares. TD Cowen reissued a “buy” rating and issued a $540.00 target price on shares of Microsoft in a report on Thursday, June 4th. Guggenheim reaffirmed a “buy” rating and set a $586.00 price target on shares of Microsoft in a report on Thursday, April 30th. Wolfe Research dropped their price objective on Microsoft from $570.00 to $525.00 and set an “outperform” rating on the stock in a research report on Monday. Citizens Jmp initiated coverage on Microsoft in a report on Monday, June 1st. They issued an “outperform” rating and a $550.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Microsoft in a research report on Monday. Forty-one investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $559.84.

View Our Latest Research Report on MSFT

Microsoft Stock Up 0.1%

The company’s 50-day moving average price is $403.12 and its 200 day moving average price is $414.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 1.28. The stock has a market cap of $2.86 trillion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.13.

Microsoft (NASDAQ:MSFTGet Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The software giant reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.21. The company had revenue of $82.89 billion for the quarter, compared to the consensus estimate of $81.44 billion. Microsoft had a net margin of 39.34% and a return on equity of 31.94%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.46 earnings per share. As a group, analysts forecast that Microsoft Corporation will post 16.76 EPS for the current fiscal year.

Microsoft Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.9%. Microsoft’s payout ratio is presently 21.67%.

Insider Transactions at Microsoft

In other Microsoft news, EVP Takeshi Numoto sold 4,500 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $402.84, for a total transaction of $1,812,780.00. Following the completion of the sale, the executive vice president owned 47,468 shares of the company’s stock, valued at approximately $19,122,009.12. The trade was a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Judson Althoff sold 15,500 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $460.99, for a total value of $7,145,345.00. Following the sale, the chief executive officer directly owned 110,477 shares of the company’s stock, valued at $50,928,792.23. This represents a 12.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,762 shares of company stock worth $10,508,361 in the last three months. Corporate insiders own 0.03% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MSFT. Longfellow Investment Management Co. LLC increased its stake in Microsoft by 51.3% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 59 shares of the software giant’s stock worth $29,000 after buying an additional 20 shares in the last quarter. Bernzott Capital Advisors purchased a new position in shares of Microsoft in the fourth quarter valued at about $34,000. Timmons Wealth Management LLC bought a new position in shares of Microsoft in the fourth quarter worth about $36,000. Fairway Wealth LLC grew its position in shares of Microsoft by 287.0% during the fourth quarter. Fairway Wealth LLC now owns 89 shares of the software giant’s stock worth $43,000 after purchasing an additional 66 shares in the last quarter. Finally, University of Illinois Foundation purchased a new stake in shares of Microsoft during the second quarter worth about $50,000. 71.13% of the stock is currently owned by institutional investors.

Microsoft Company Profile

(Get Free Report)

Microsoft Corporation is a global technology company headquartered in Redmond, Washington. Founded in 1975 by Bill Gates and Paul Allen, Microsoft develops, licenses and supports a broad range of software products, services and devices for consumers, enterprises and governments worldwide. Its operations span personal computing, productivity software, cloud infrastructure, enterprise applications, developer tools and gaming.

Microsoft’s product portfolio includes the Windows operating system and the Microsoft 365 suite of productivity and collaboration tools (Office apps, Outlook, Teams).

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