Credit Agricole SA Reiterates “Outperform” Rating for Microsoft Corp. (MSFT)
Microsoft Corp. (NASDAQ:MSFT)‘s stock had its “outperform” rating reaffirmed by investment analysts at Credit Agricole SA in a research report issued on Wednesday. They presently have a $60.00 price objective on the software giant’s stock. Credit Agricole SA’s target price points to a potential upside of 3.81% from the company’s current price.
Several other research analysts also recently commented on MSFT. Nomura reaffirmed a “buy” rating on shares of Microsoft Corp. in a research note on Wednesday, June 8th. Bank of America Corp. reaffirmed a “buy” rating on shares of Microsoft Corp. in a research note on Friday, June 10th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Microsoft Corp. in a research note on Monday, June 13th. Evercore ISI reaffirmed a “buy” rating on shares of Microsoft Corp. in a research note on Monday, June 13th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $68.00 target price on shares of Microsoft Corp. in a research note on Monday, June 13th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.41.
Microsoft Corp. (NASDAQ:MSFT) traded up 0.10% on Wednesday, hitting $57.80. 20,089,020 shares of the company’s stock were exchanged. Microsoft Corp. has a 52-week low of $46.50 and a 52-week high of $58.70. The stock has a market cap of $450.41 billion, a P/E ratio of 27.52 and a beta of 1.09. The firm has a 50 day moving average price of $57.48 and a 200-day moving average price of $54.34.
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Microsoft Corp. (NASDAQ:MSFT) last issued its earnings results on Tuesday, July 19th. The software giant reported $0.69 EPS for the quarter, topping the consensus estimate of $0.58 by $0.11. Microsoft Corp. had a net margin of 19.33% and a return on equity of 29.38%. The company had revenue of $22.60 billion for the quarter, compared to the consensus estimate of $22.15 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. Analysts predict that Microsoft Corp. will post $2.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be paid a dividend of $0.39 per share. The ex-dividend date is Tuesday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 2.70%. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.36. Microsoft Corp.’s dividend payout ratio (DPR) is currently 70.24%.
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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider G Mason Morfit sold 18,000,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $56.12, for a total value of $1,010,160,000.00. The disclosure for this sale can be found here. Insiders own 3.76% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in 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 during the period. BlackRock Institutional Trust Company N.A. raised its position in Microsoft Corp. by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 208,079,583 shares of the software giant’s stock valued at $11,492,235,000 after buying an additional 1,784,020 shares during the period. Franklin Resources Inc. raised its position in 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 during the period. BlackRock Group LTD raised its position in Microsoft Corp. by 1.5% in the second quarter. BlackRock Group LTD now owns 66,254,544 shares of the software giant’s stock valued at $3,390,245,000 after buying an additional 976,953 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in Microsoft Corp. by 2.1% in the second quarter. TIAA CREF Investment Management LLC now owns 47,081,885 shares of the software giant’s stock valued at $2,409,180,000 after buying an additional 980,414 shares during the period. 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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