Microsoft Co. (NASDAQ:MSFT) announced a quarterly dividend on Tuesday, March 16th, RTT News reports. Investors of record on Thursday, May 20th will be given a dividend of 0.56 per share by the software giant on Thursday, June 10th. This represents a $2.24 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Wednesday, May 19th.
Microsoft has raised its dividend payment by 31.5% over the last three years and has increased its dividend annually for the last 11 consecutive years. Microsoft has a dividend payout ratio of 28.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Microsoft to earn $7.39 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 30.3%.
NASDAQ MSFT opened at $248.15 on Monday. The firm has a market cap of $1.87 trillion, a PE ratio of 40.09, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. Microsoft has a one year low of $176.60 and a one year high of $263.19. The stock’s 50 day simple moving average is $250.55 and its 200 day simple moving average is $230.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.53 and a quick ratio of 2.49.
Several research analysts have issued reports on MSFT shares. Mizuho upped their price objective on Microsoft from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, May 4th. Royal Bank of Canada reaffirmed a “buy” rating and set a $290.00 price objective on shares of Microsoft in a report on Wednesday, April 28th. JPMorgan Chase & Co. upped their price objective on Microsoft from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, April 28th. Sanford C. Bernstein reaffirmed a “buy” rating and set a $283.00 price objective on shares of Microsoft in a report on Wednesday, January 27th. Finally, Citigroup started coverage on Microsoft in a report on Wednesday, March 3rd. They set a “buy” rating and a $292.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the stock. Microsoft presently has a consensus rating of “Buy” and an average target price of $287.24.
In other news, CMO Christopher C. Capossela sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, May 12th. The stock was sold at an average price of $240.00, for a total value of $360,000.00. Following the completion of the transaction, the chief marketing officer now owns 87,703 shares in the company, valued at approximately $21,048,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Christopher C. Capossela sold 6,086 shares of the firm’s stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $252.66, for a total value of $1,537,688.76. Following the completion of the transaction, the chief marketing officer now owns 92,119 shares of the company’s stock, valued at approximately $23,274,786.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,586 shares of company stock valued at $3,899,849. Corporate insiders own 0.05% of the company’s stock.
A hedge fund recently bought a new stake in Microsoft stock. OLD Mission Capital LLC bought a new stake in Microsoft Co. (NASDAQ:MSFT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,963 shares of the software giant’s stock, valued at approximately $1,254,000. 69.01% of the stock is currently owned by institutional investors.
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for small and medium businesses, large organizations, and divisions of enterprises.
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