Microsoft Corp. (MSFT) Hits New 52-Week High at $58.50
Microsoft Corp. (NASDAQ:MSFT) shares reached a new 52-week high on Monday . The company traded as high as $58.50 and last traded at $58.49, with a volume of 8,324,236 shares trading hands. The stock had previously closed at $57.94.
A number of research analysts have weighed in on the stock. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $62.00 target price on shares of Microsoft Corp. in a research note on Friday, July 22nd. Argus reiterated a “hold” rating on shares of Microsoft Corp. in a research note on Monday, July 25th. Nomura reiterated a “buy” rating and issued a $36.00 target price (up from $35.00) on shares of Microsoft Corp. in a research note on Tuesday, April 19th. Citigroup Inc. boosted their target price on shares of Microsoft Corp. from $37.00 to $40.00 and gave the company a “sell” rating in a research note on Wednesday, July 20th. Finally, Vetr cut shares of Microsoft Corp. from a “buy” rating to a “hold” rating and set a $57.83 target price on the stock. in a research note on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have issued a buy rating to the company. Microsoft Corp. currently has a consensus rating of “Buy” and a consensus price target of $58.88.
The stock has a market capitalization of $447.60 billion and a price-to-earnings ratio of 27.35. The firm’s 50 day moving average price is $54.99 and its 200-day moving average price is $52.91.
Microsoft Corp. (NASDAQ:MSFT) last posted its quarterly earnings data on Tuesday, July 19th. The software giant reported $0.69 EPS for the quarter, topping the consensus estimate of $0.58 by $0.11. The firm had revenue of $22.60 billion for the quarter, compared to analysts’ expectations of $22.15 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. Equities research analysts predict that Microsoft Corp. will post $2.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Tuesday, August 16th.
In other Microsoft Corp. news, CMO Christopher C. Capossela sold 6,000 shares of Microsoft Corp. stock in a transaction 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 completion of the transaction, the chief marketing officer now directly owns 278,549 shares of the company’s stock, valued at $14,013,800.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider G Mason Morfit sold 18,000,000 shares of Microsoft Corp. stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $56.12, for a total transaction of $1,010,160,000.00. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of the stock. Security National Bank of SO Dak raised its stake in shares of 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. Parkside Financial Bank & Trust raised its stake in shares of Microsoft Corp. by 1.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 20,901 shares of the software giant’s stock worth $1,159,000 after buying an additional 264 shares in the last quarter. Bourgeon Capital Management LLC raised its stake in shares of 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 bought a new stake in shares of Microsoft Corp. during the fourth quarter worth about $1,381,000. Finally, Home Federal Bank of Tennessee bought a new stake in shares of Microsoft Corp. during the fourth quarter worth about $1,386,000.
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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