Microsoft Corp. (MSFT) Plans Dividend Increase – $0.39 Per Share
Microsoft Corp. (NASDAQ:MSFT) declared a quarterly dividend on Tuesday, September 20th. Investors of record on Thursday, November 17th will be paid a dividend of 0.39 per share by the software giant on Thursday, December 8th. This represents a $1.56 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Tuesday, November 15th. This is a boost from Microsoft Corp.’s previous quarterly dividend of $0.36.
A number of research analysts recently weighed in on MSFT shares. Cowen and Company raised Microsoft Corp. from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Tuesday, May 24th. Vetr raised Microsoft Corp. from a “hold” rating to a “buy” rating and set a $59.88 price objective on the stock in a report on Thursday, September 8th. Goldman Sachs Group Inc. set a $55.00 price objective on Microsoft Corp. and gave the stock a “neutral” rating in a report on Wednesday, June 29th. Citigroup Inc. upped their price objective on Microsoft Corp. from $36.00 to $37.00 and gave the stock a “sell” rating in a report on Thursday, July 7th. Finally, Pacific Crest reiterated a “buy” rating and set a $65.00 target price on shares of Microsoft Corp. in a research report on Tuesday, September 13th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $59.25.
In other news, Director William H. Gates III sold 2,500,000 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $55.94, for a total transaction of $139,850,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy Hood sold 120,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $57.86, for a total value of $6,943,200.00. Following the sale, the chief financial officer now directly owns 523,425 shares of the company’s stock, valued at $30,285,370.50. The disclosure for this sale can be found here. Insiders own 3.76% of the company’s stock.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/microsoft-corp-msft-plans-dividend-increase-0-39-per-share.html
Large investors have recently added to or reduced their stakes in the company. Roble Belko & Company Inc boosted its stake in shares of Microsoft Corp. by 9.0% in the second quarter. Roble Belko & Company Inc now owns 2,535 shares of the software giant’s stock valued at $130,000 after buying an additional 210 shares during the period. FFT Wealth Management LLC acquired a new stake in shares of Microsoft Corp. during the second quarter valued at approximately $206,000. Vontobel Swiss Wealth Advisors AG acquired a new stake in shares of Microsoft Corp. during the second quarter valued at approximately $225,000. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Microsoft Corp. during the second quarter valued at approximately $233,000. Finally, US Financial Advisors LLC boosted its stake in shares of Microsoft Corp. by 1.4% in the second quarter. US Financial Advisors LLC now owns 4,367 shares of the software giant’s stock valued at $241,000 after buying an additional 60 shares during the period. 71.65% of the stock is owned by institutional investors and hedge funds.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded down 0.21% during midday trading on Tuesday, reaching $56.81. The company’s stock had a trading volume of 17,326,115 shares. The stock has a 50-day moving average price of $57.51 and a 200 day moving average price of $53.89. Microsoft Corp. has a 52 week low of $43.05 and a 52 week high of $58.70. The stock has a market capitalization of $442.69 billion, a PE ratio of 27.05 and a beta of 1.08.
Microsoft Corp. (NASDAQ:MSFT) last issued its quarterly earnings results on Tuesday, July 19th. The software giant reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.11. Microsoft Corp. had a return on equity of 29.38% and a net margin of 19.33%. The company had revenue of $22.60 billion for the quarter, compared to analysts’ expectations of $22.15 billion. During the same period last year, the firm earned $0.60 EPS. Equities analysts forecast that Microsoft Corp. will post $2.90 earnings per share for the current year.
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.
Receive News & Ratings for Microsoft Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft Corp. and related companies with MarketBeat.com's FREE daily email newsletter.