Traders Buy Microsoft Corp. (MSFT) on Weakness
Traders purchased shares of Microsoft Corp. (NASDAQ:MSFT) on weakness during trading on Friday. $512.55 million flowed into the stock on the tick-up and $155.43 million flowed out of the stock on the tick-down, for a money net flow of $357.12 million into the stock. Of all stocks tracked, Microsoft Corp. had the 2nd highest net in-flow for the day. Microsoft Corp. traded down ($0.04) for the day and closed at $53.70
A number of analysts have issued reports on MSFT shares. Sanford C. Bernstein set a $68.00 target price on Microsoft Corp. and gave the stock a “buy” rating in a research report on Friday. Canaccord Genuity reiterated a “hold” rating and issued a $55.00 price target on shares of Microsoft Corp. in a research report on Wednesday, June 15th. Deutsche Bank AG reiterated a “buy” rating and issued a $55.00 price target (up from $44.00) on shares of Microsoft Corp. in a research report on Monday, March 28th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $62.50 price target on shares of Microsoft Corp. in a research report on Saturday, June 25th. Finally, Credit Agricole SA reiterated an “outperform” rating and issued a $60.00 price target on shares of Microsoft Corp. in a research report on Wednesday, June 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $58.29.
The stock has a market cap of $422.11 billion and a PE ratio of 41.40. The firm’s 50-day moving average is $51.46 and its 200-day moving average is $52.29.
Microsoft Corp. (NASDAQ:MSFT) last issued its earnings results on Thursday, April 21st. The software giant reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.02. The firm had revenue of $20.50 billion for the quarter, compared to analyst estimates of $22.10 billion. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 earnings per share. Equities analysts predict that Microsoft Corp. will post $2.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.68%. The ex-dividend date is Tuesday, August 16th.
In related news, CMO Christopher C. Capossela sold 6,000 shares of Microsoft Corp. stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $50.31, for a total transaction of $301,860.00. Following the transaction, the chief marketing officer now directly owns 278,549 shares of the company’s stock, valued at $14,013,800.19. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William H. Gates III sold 2,700,000 shares of Microsoft Corp. stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $50.87, for a total transaction of $137,349,000.00. Following the transaction, the director now directly owns 204,292,934 shares in the company, valued at $10,392,381,552.58. The disclosure for this sale can be found here.
A number of institutional investors have recently added to or reduced their stakes in the company. Rothschild Capital Partners LLC purchased a new position in Microsoft Corp. during the fourth quarter valued at about $3,440,000. Hutchens Investment Management Inc raised its position in Microsoft Corp. by 397.9% in the fourth quarter. Hutchens Investment Management Inc now owns 42,517 shares of the software giant’s stock valued at $2,358,000 after buying an additional 33,977 shares in the last quarter. Cambridge Trust Co. raised its position in Microsoft Corp. by 1.6% in the fourth quarter. Cambridge Trust Co. now owns 498,222 shares of the software giant’s stock valued at $27,641,000 after buying an additional 7,628 shares in the last quarter. Hanseatic Management Services Inc. purchased a new position in Microsoft Corp. during the fourth quarter valued at about $4,063,000. Finally, Transamerica Financial Advisors Inc. raised its position in Microsoft Corp. by 5.3% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 94,436 shares of the software giant’s stock valued at $5,240,000 after buying an additional 4,755 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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