Microsoft Corporation (MSFT) Receives Buy Rating from KeyCorp
Microsoft Corporation (NASDAQ:MSFT)‘s stock had its “buy” rating restated by analysts at KeyCorp in a report issued on Sunday. They currently have a $82.00 price objective on the software giant’s stock. KeyCorp’s price objective points to a potential upside of 10.84% from the company’s previous close.
The analysts wrote, “We have rebuilt our detailed segment model drivers for Microsoft, incorporating new ASC 606 reclassifications that have no impact on cash flow, higher Azure revenue growth assumptions, and new device product cycle benefits (Xbox One, Surface Laptop, etc.).””
Several other research analysts have also recently issued reports on the stock. Royal Bank Of Canada restated a “buy” rating on shares of Microsoft Corporation in a report on Friday. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $80.00 target price on shares of Microsoft Corporation in a report on Thursday. Vetr upgraded shares of Microsoft Corporation from a “hold” rating to a “buy” rating and set a $77.30 target price on the stock in a report on Wednesday. Moffett Nathanson assumed coverage on shares of Microsoft Corporation in a report on Wednesday. They issued a “neutral” rating and a $81.00 target price on the stock. Finally, ValuEngine upgraded shares of Microsoft Corporation from a “hold” rating to a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $76.80.
Microsoft Corporation (MSFT) traded down 0.48% during midday trading on Friday, hitting $73.98. 14,703,816 shares of the company traded hands. The firm has a market capitalization of $569.81 billion, a PE ratio of 27.30 and a beta of 1.00. The stock’s 50-day moving average is $73.10 and its 200-day moving average is $69.19. Microsoft Corporation has a 12-month low of $55.61 and a 12-month high of $74.96.
Microsoft Corporation (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, July 20th. The software giant reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.27. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The business had revenue of $24.70 billion for the quarter, compared to analysts’ expectations of $24.29 billion. During the same period last year, the business earned $0.69 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts anticipate that Microsoft Corporation will post $3.22 EPS for the current fiscal year.
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In other news, insider G Mason Morfit sold 7,000,000 shares of Microsoft Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $72.56, for a total transaction of $507,920,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy Hood sold 55,000 shares of Microsoft Corporation stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $72.71, for a total value of $3,999,050.00. Following the transaction, the chief financial officer now directly owns 510,217 shares in the company, valued at $37,097,878.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,108,526 shares of company stock worth $515,879,974. Insiders own 2.99% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MSFT. Acrospire Investment Management LLC lifted its holdings in Microsoft Corporation by 300.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the software giant’s stock worth $110,000 after purchasing an additional 1,200 shares in the last quarter. Hefty Wealth Partners lifted its holdings in Microsoft Corporation by 65.6% in the 2nd quarter. Hefty Wealth Partners now owns 1,648 shares of the software giant’s stock worth $113,000 after purchasing an additional 653 shares in the last quarter. Asset Planning Services Ltd. lifted its holdings in Microsoft Corporation by 93.0% in the 1st quarter. Asset Planning Services Ltd. now owns 1,737 shares of the software giant’s stock worth $114,000 after purchasing an additional 837 shares in the last quarter. Ullmann Financial Group Inc. purchased a new position in Microsoft Corporation in the 1st quarter worth approximately $132,000. Finally, Stelac Advisory Services LLC lifted its holdings in Microsoft Corporation by 23.5% in the 2nd quarter. Stelac Advisory Services LLC now owns 2,033 shares of the software giant’s stock worth $140,000 after purchasing an additional 387 shares in the last quarter. 73.47% of the stock is currently owned by institutional investors.
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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