Microsoft Co. (NASDAQ:MSFT) Increases Dividend to $0.62 Per Share

Microsoft Co. (NASDAQ:MSFT) declared a quarterly dividend on Tuesday, September 14th, RTT News reports. Shareholders of record on Thursday, November 18th will be given a dividend of 0.62 per share by the software giant on Thursday, December 9th. This represents a $2.48 annualized dividend and a yield of 0.83%. This is a positive change from Microsoft’s previous quarterly dividend of $0.56.

Microsoft has raised its dividend payment by 31.5% over the last three years.

Shares of NASDAQ:MSFT traded up $2.80 during trading hours on Tuesday, hitting $299.79. 21,561,478 shares of the company’s stock traded hands, compared to its average volume of 25,950,760. Microsoft has a 52 week low of $196.25 and a 52 week high of $305.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.08. The company’s fifty day simple moving average is $290.66 and its two-hundred day simple moving average is $263.89. The company has a market cap of $2.25 trillion, a price-to-earnings ratio of 37.24, a price-to-earnings-growth ratio of 3.10 and a beta of 0.78.

Microsoft (NASDAQ:MSFT) last posted its quarterly earnings data on Monday, July 26th. The software giant reported $2.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.25. Microsoft had a net margin of 36.45% and a return on equity of 45.76%. The company had revenue of $46.15 billion during the quarter, compared to analyst estimates of $44.30 billion. During the same quarter last year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, analysts anticipate that Microsoft will post 8.61 EPS for the current fiscal year.

In related news, CEO Satya Nadella sold 75,573 shares of Microsoft stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $303.28, for a total value of $22,919,779.44. Following the completion of the transaction, the chief executive officer now directly owns 1,632,350 shares of the company’s stock, valued at $495,059,108. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy Hood sold 60,000 shares of the business’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $303.08, for a total value of $18,184,800.00. The disclosure for this sale can be found here. Insiders sold a total of 165,573 shares of company stock worth $50,066,379 in the last 90 days. 0.05% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Microsoft stock. Morgan Stanley grew its stake in Microsoft Co. (NASDAQ:MSFT) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,123,020 shares of the software giant’s stock after acquiring an additional 2,783,534 shares during the quarter. Microsoft accounts for 2.4% of Morgan Stanley’s holdings, making the stock its biggest position. Morgan Stanley owned 0.91% of Microsoft worth $18,454,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 69.17% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on the stock. Mizuho reiterated a “buy” rating and issued a $350.00 target price (up from $325.00) on shares of Microsoft in a report on Friday, August 20th. Barclays raised their target price on shares of Microsoft from $288.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, July 23rd. Griffin Securities raised their target price on shares of Microsoft from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Wedbush raised their price target on shares of Microsoft from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, August 20th. Finally, Bank of America raised their price target on shares of Microsoft from $325.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Two research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Microsoft has a consensus rating of “Buy” and a consensus price target of $322.93.

About Microsoft

Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment comprises products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform.

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Dividend History for Microsoft (NASDAQ:MSFT)

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