Traders Sell Microsoft Corp. (MSFT) on Strength (MSFT)
Traders sold shares of Microsoft Corp. (NASDAQ:MSFT) on strength during trading hours on Wednesday. $90.64 million flowed into the stock on the tick-up and $235.26 million flowed out of the stock on the tick-down, for a money net flow of $144.62 million out of the stock. Of all equities tracked, Microsoft Corp. had the highest net out-flow for the day. Microsoft Corp. traded up $0.06 for the day and closed at $57.95
Several brokerages have recently commented on MSFT. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $62.00 price objective on shares of Microsoft Corp. in a research note on Friday, July 22nd. Argus reissued a “hold” rating on shares of Microsoft Corp. in a research note on Monday, July 25th. Nomura reissued a “buy” rating and issued a $65.00 price objective on shares of Microsoft Corp. in a research note on Thursday, July 28th. Citigroup Inc. increased their price objective on Microsoft Corp. from $37.00 to $40.00 and gave the stock a “sell” rating in a research note on Wednesday, July 20th. Finally, Vetr downgraded Microsoft Corp. from a “buy” rating to a “hold” rating and set a $57.83 price objective for the company. in a research note on Wednesday, July 20th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $58.88.
The firm’s 50 day moving average is $56.04 and its 200-day moving average is $53.13. The stock has a market cap of $451.58 billion and a price-to-earnings ratio of 27.60.
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 Zacks’ consensus estimate of $0.58 by $0.11. The company had revenue of $22.60 billion for the quarter, compared to analysts’ expectations of $22.15 billion. During the same period last year, the business posted $0.60 earnings per share. Equities analysts anticipate that Microsoft Corp. will post $2.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Tuesday, August 16th.
In other news, 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 transaction, the chief executive officer now directly owns 1,200,822 shares in the company, valued at $69,611,651.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William H. Gates III sold 2,500,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $55.94, for a total transaction of $139,850,000.00. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in the stock. Security National Bank of SO Dak increased its position in Microsoft Corp. by 6.2% in the fourth quarter. Security National Bank of SO Dak now owns 20,879 shares of the software giant’s stock worth $1,158,000 after buying an additional 1,225 shares in the last quarter. Bourgeon Capital Management LLC increased its position in Microsoft Corp. by 0.8% in the fourth quarter. Bourgeon Capital Management LLC now owns 24,010 shares of the software giant’s stock worth $1,332,000 after buying an additional 200 shares in the last quarter. Hudson Canyon Investment Counselors LLC acquired a new position in Microsoft Corp. during the fourth quarter worth about $1,381,000. Home Federal Bank of Tennessee acquired a new position in Microsoft Corp. during the fourth quarter worth about $1,386,000. Finally, Formidable Asset Management LLC increased its position in Microsoft Corp. by 1.0% in the fourth quarter. Formidable Asset Management LLC now owns 30,560 shares of the software giant’s stock worth $1,651,000 after buying an additional 288 shares in the last quarter.
Microsoft Corporation is engaged in developing, licensing and supporting a range of software products and services. The Company also designs and sells hardware, and delivers online advertising to the customers. The Company operates in five segments: Devices and Consumer (D&C) Licensing, D&C Hardware, D&C Other, Commercial Licensing, and Commercial Other.
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