Microsoft Corp. (MSFT) Cut to “Hold” at Vetr Inc.
Microsoft Corp. (NASDAQ:MSFT) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They currently have a $59.96 price target on the software giant’s stock. Vetr‘s price objective points to a potential upside of 3.81% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. Evercore ISI reissued a “buy” rating on shares of Microsoft Corp. in a research note on Monday, June 13th. Bank of America Corp. reissued a “buy” rating on shares of Microsoft Corp. in a research note on Friday, June 10th. Nomura reissued a “buy” rating on shares of Microsoft Corp. in a research note on Wednesday, June 8th. Royal Bank Of Canada reissued a “buy” rating on shares of Microsoft Corp. in a research note on Tuesday, June 14th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $65.00 target price on shares of Microsoft Corp. in a research note on Wednesday, June 15th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $59.25.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 1.67% on Wednesday, hitting $57.76. The stock had a trading volume of 33,707,272 shares. The firm has a 50 day moving average of $57.55 and a 200-day moving average of $53.96. Microsoft Corp. has a 1-year low of $43.05 and a 1-year high of $58.70. The firm has a market capitalization of $450.10 billion, a price-to-earnings ratio of 27.50 and a beta of 1.08.
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Microsoft Corp. (NASDAQ:MSFT) last issued its quarterly earnings data on Tuesday, July 19th. The software giant reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ 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 the consensus estimate of $22.15 billion. During the same quarter last year, the business posted $0.60 earnings per share. Equities analysts predict that Microsoft Corp. will post $2.90 earnings per share for the current 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 $0.39 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.56 annualized dividend and a yield of 2.70%. This is a boost from Microsoft Corp.’s previous quarterly dividend of $0.36. Microsoft Corp.’s payout ratio is presently 70.24%.
In other Microsoft Corp. news, CFO Amy Hood sold 120,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were 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 owns 523,425 shares in the company, valued at approximately $30,285,370.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Gates III sold 2,500,000 shares of the business’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 disclosure for this sale can be found here. 3.76% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in MSFT. Emerald Acquisition Ltd. acquired a new stake in shares of Microsoft Corp. during the second quarter valued at about $699,840,000. Janus Capital Management LLC boosted 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 valued at $2,128,899,000 after buying an additional 11,937,675 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $25,800,344,000 after buying an additional 8,371,988 shares in the last quarter. Franklin Resources Inc. boosted 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 valued at $4,794,838,000 after buying an additional 6,760,471 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Microsoft Corp. during the first quarter valued at about $370,367,000. Hedge funds and other institutional investors own 71.58% of the company’s stock.
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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