Microsoft Corp. (MSFT) Downgraded by Vetr Inc. to “Hold”
Microsoft Corp. (NASDAQ:MSFT) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Tuesday. They presently have a $59.58 target price on the software giant’s stock. Vetr‘s target price points to a potential upside of 3.33% from the company’s current price.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Microsoft Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday. Goldman Sachs Group Inc. restated a “hold” rating and issued a $57.00 price objective on shares of Microsoft Corp. in a research report on Monday. Nomura restated a “buy” rating and issued a $65.00 price objective on shares of Microsoft Corp. in a research report on Thursday, October 13th. Credit Agricole SA restated an “outperform” rating and issued a $60.00 price objective on shares of Microsoft Corp. in a research report on Wednesday, October 5th. Finally, Cowen and Company reiterated an “outperform” rating and set a $60.00 price target on shares of Microsoft Corp. in a research report on Friday, September 30th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Microsoft Corp. has a consensus rating of “Hold” and a consensus target price of $59.60.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 0.77% during midday trading on Tuesday, hitting $57.66. 19,149,538 shares of the company traded hands. The stock’s 50-day moving average is $57.37 and its 200 day moving average is $54.48. The stock has a market capitalization of $449.32 billion, a P/E ratio of 27.46 and a beta of 1.09. Microsoft Corp. has a 12-month low of $47.09 and a 12-month high of $58.70.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, November 15th. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.36. Microsoft Corp.’s dividend payout ratio (DPR) is 70.24%.
In other Microsoft Corp. news, CFO Amy Hood sold 120,000 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $57.86, for a total transaction of $6,943,200.00. Following the completion of the sale, the chief financial officer now owns 523,425 shares of the company’s stock, valued at approximately $30,285,370.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Satya Nadella sold 143,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,200,822 shares of the company’s stock, valued at approximately $69,611,651.34. The disclosure for this sale can be found here. 3.76% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Schneider Downs Wealth Management Advisors LP purchased a new stake in Microsoft Corp. during the third quarter worth $212,000. Trust Co. of Virginia VA increased its stake in Microsoft Corp. by 1.1% in the third quarter. Trust Co. of Virginia VA now owns 222,283 shares of the software giant’s stock worth $12,803,000 after buying an additional 2,315 shares in the last quarter. Somerset Trust Co increased its stake in Microsoft Corp. by 0.5% in the third quarter. Somerset Trust Co now owns 84,857 shares of the software giant’s stock worth $4,886,000 after buying an additional 460 shares in the last quarter. Regent Investment Management LLC increased its stake in Microsoft Corp. by 2.3% in the third quarter. Regent Investment Management LLC now owns 14,701 shares of the software giant’s stock worth $847,000 after buying an additional 335 shares in the last quarter. Finally, David R. Rahn & Associates Inc. purchased a new stake in Microsoft Corp. during the third quarter worth $704,000. 71.69% of the stock is owned by institutional investors and hedge funds.
Microsoft Corp. Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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