Microsoft Corporation (NASDAQ:MSFT) had its target price raised by equities research analysts at BGC Financial to $65.00 in a research report issued to clients and investors on Wednesday. BGC Financial’s target price indicates a potential upside of 2.33% from the company’s previous close.
Several other equities research analysts have also weighed in on MSFT. Jefferies Group LLC set a $40.00 price objective on Microsoft Corporation and gave the company a “sell” rating in a research note on Tuesday, September 27th. Deutsche Bank AG reiterated a “buy” rating and issued a $65.00 price objective on shares of Microsoft Corporation in a research note on Wednesday, September 28th. Cowen and Company reiterated an “outperform” rating and issued a $60.00 price objective on shares of Microsoft Corporation in a research note on Friday, September 30th. reissued an “outperform” rating and issued a $60.00 target price on shares of Microsoft Corporation in a report on Wednesday, October 5th. Finally, Vetr raised Microsoft Corporation from a “hold” rating to a “buy” rating and set a $59.95 target price on the stock in a report on Tuesday, October 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $63.92.
Shares of Microsoft Corporation (NASDAQ:MSFT) traded up 0.28% during trading on Wednesday, hitting $63.70. The company had a trading volume of 6,426,729 shares. The firm has a 50 day moving average of $62.61 and a 200 day moving average of $59.01. Microsoft Corporation has a 12-month low of $48.03 and a 12-month high of $64.10. The stock has a market cap of $495.29 billion, a PE ratio of 30.51 and a beta of 1.13.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Thursday, February 16th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $1.56 annualized dividend and a yield of 2.46%. Microsoft Corporation’s dividend payout ratio (DPR) is presently 75.00%.
In other news, insider Frank H. Brod sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $60.53, for a total transaction of $302,650.00. Following the transaction, the insider now directly owns 121,508 shares of the company’s stock, valued at $7,354,879.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Gates III sold 3,300,000 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $60.30, for a total transaction of $198,990,000.00. The disclosure for this sale can be found here. Insiders have sold 3,347,583 shares of company stock valued at $201,822,202 over the last 90 days. Company insiders own 2.99% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Microsoft Corporation 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. Capital World Investors boosted its position in shares of Microsoft Corporation by 2.6% in the third quarter. Capital World Investors now owns 327,458,996 shares of the software giant’s stock valued at $18,861,638,000 after buying an additional 8,226,654 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Microsoft Corporation by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 205,994,090 shares of the software giant’s stock valued at $11,865,260,000 after buying an additional 1,658,359 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Microsoft Corporation by 0.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 178,592,140 shares of the software giant’s stock valued at $10,286,907,000 after buying an additional 517,111 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Microsoft Corporation by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 119,567,792 shares of the software giant’s stock valued at $6,887,104,000 after buying an additional 1,223,999 shares in the last quarter. 71.88% 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. 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.