Oppenheimer Holdings, Inc. Reaffirms Buy Rating for Microsoft Corporation (MSFT)
Microsoft Corporation (NASDAQ:MSFT)‘s stock had its “buy” rating reaffirmed by research analysts at Oppenheimer Holdings, Inc. in a report issued on Thursday. They presently have a $80.00 price objective on the software giant’s stock. Oppenheimer Holdings, Inc.’s target price would suggest a potential upside of 8.99% from the stock’s previous close.
Several other brokerages have also weighed in on MSFT. BMO Capital Markets raised their target price on Microsoft Corporation from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. UBS AG reissued a “buy” rating and set a $82.00 target price (up previously from $73.00) on shares of Microsoft Corporation in a research report on Friday, July 21st. Canaccord Genuity raised their target price on Microsoft Corporation from $68.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Deutsche Bank AG reissued a “buy” rating and set a $85.00 target price (up previously from $80.00) on shares of Microsoft Corporation in a research report on Friday, July 21st. Finally, Raymond James Financial, Inc. raised their target price on Microsoft Corporation to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirty have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $76.66.
Shares of Microsoft Corporation (NASDAQ MSFT) traded up 1.433% during trading on Thursday, reaching $74.452. 13,793,682 shares of the company’s stock were exchanged. The company has a market capitalization of $573.45 billion, a P/E ratio of 27.473 and a beta of 1.00. The stock has a 50-day moving average price of $73.10 and a 200 day moving average price of $69.12. Microsoft Corporation has a 12-month low of $55.61 and a 12-month high of $74.96.
Microsoft Corporation (NASDAQ:MSFT) last announced its quarterly earnings data on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.27. The business had revenue of $24.70 billion during the quarter, compared to analysts’ expectations of $24.29 billion. Microsoft Corporation had a return on equity of 36.81% and a net margin of 23.57%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Equities analysts expect that Microsoft Corporation will post $3.21 EPS for the current fiscal year.
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In other news, insider Jean Philippe Courtois sold 26,763 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $74.00, for a total value of $1,980,462.00. Following the transaction, the insider now owns 544,080 shares of the company’s stock, valued at $40,261,920. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider G Mason Morfit sold 7,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $72.56, for a total value of $507,920,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 7,108,526 shares of company stock worth $515,879,974. Corporate insiders own 2.99% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Microsoft Corporation by 4.6% in the second quarter. Vanguard Group Inc. now owns 564,052,011 shares of the software giant’s stock valued at $38,880,105,000 after buying an additional 25,053,413 shares in the last quarter. State Street Corp boosted its stake in shares of Microsoft Corporation by 0.8% in the first quarter. State Street Corp now owns 318,681,830 shares of the software giant’s stock valued at $20,988,383,000 after buying an additional 2,552,473 shares in the last quarter. Norges Bank purchased a new stake in shares of Microsoft Corporation in the fourth quarter valued at approximately $4,334,099,000. Capital Research Global Investors boosted its stake in shares of Microsoft Corporation by 212.3% in the second quarter. Capital Research Global Investors now owns 69,663,044 shares of the software giant’s stock valued at $4,801,874,000 after buying an additional 47,353,245 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Microsoft Corporation by 609.4% in the second quarter. Janus Henderson Group PLC now owns 49,174,883 shares of the software giant’s stock valued at $3,389,625,000 after buying an additional 42,243,011 shares in the last quarter. Hedge funds and other institutional investors own 73.47% of the company’s stock.
About Microsoft Corporation
Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s 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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