Microsoft Co. (NASDAQ:MSFT) Plans Dividend Increase – $0.62 Per Share

Microsoft Co. (NASDAQ:MSFT) declared a quarterly dividend on Tuesday, September 14th, RTT News reports. Stockholders of record on Thursday, November 18th will be paid a dividend of 0.62 per share by the software giant on Thursday, December 9th. This represents a $2.48 dividend on an annualized basis and a dividend 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 MSFT traded up $2.80 during mid-day trading on Tuesday, reaching $299.79. 21,561,478 shares of the company were exchanged, 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 stock has a market capitalization of $2.25 trillion, a PE ratio of 37.24, a PEG ratio of 3.10 and a beta of 0.78. The business has a 50 day simple moving average of $290.66 and a two-hundred day simple moving average of $263.89.

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

In other news, CFO Amy Hood sold 60,000 shares of the business’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $303.08, for a total transaction of $18,184,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Satya Nadella sold 75,573 shares of the company’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $303.28, for a total transaction of $22,919,779.44. Following the completion of the sale, the chief executive officer now directly owns 1,632,350 shares in the company, valued at $495,059,108. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,573 shares of company stock worth $50,066,379. Insiders own 0.05% of the company’s stock.

An institutional investor recently bought a new position in Microsoft stock. OLD Mission Capital LLC acquired a new stake in Microsoft Co. (NASDAQ:MSFT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,963 shares of the software giant’s stock, valued at approximately $1,254,000. Hedge funds and other institutional investors own 69.17% of the company’s stock.

A number of equities research analysts have weighed in on MSFT shares. Cowen lifted their target price on Microsoft from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Rosenblatt Securities raised their price objective on Microsoft from $333.00 to $349.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. The Goldman Sachs Group set a $340.00 price objective on Microsoft in a research note on Wednesday, July 28th. Royal Bank of Canada reissued a “buy” rating and issued a $360.00 price objective on shares of Microsoft in a research note on Monday, August 23rd. Finally, Piper Sandler raised their price objective on Microsoft from $305.00 to $310.00 and gave the company an “overweight” rating in a research note 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $322.93.

Microsoft Company Profile

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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