Wedbush Weighs in on Microsoft Co.’s Q2 2023 Earnings (NASDAQ:MSFT)

Microsoft Co. (NASDAQ:MSFTGet Rating) – Analysts at Wedbush lifted their Q2 2023 earnings per share (EPS) estimates for Microsoft in a research report issued on Wednesday, April 27th. Wedbush analyst D. Ives now anticipates that the software giant will post earnings of $2.86 per share for the quarter, up from their previous estimate of $2.65. Wedbush currently has a “Outperform” rating and a $340.00 target price on the stock. Wedbush also issued estimates for Microsoft’s Q3 2023 earnings at $2.63 EPS and FY2023 earnings at $10.78 EPS.

Microsoft (NASDAQ:MSFTGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The software giant reported $2.22 EPS for the quarter, topping the consensus estimate of $2.19 by $0.03. Microsoft had a net margin of 38.50% and a return on equity of 45.73%. The firm had revenue of $49.36 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the business posted $1.95 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year.

MSFT has been the topic of several other reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Microsoft from $390.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday. Wolfe Research upped their target price on shares of Microsoft from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup upped their target price on shares of Microsoft from $355.00 to $364.00 in a research note on Wednesday. Mizuho dropped their price objective on shares of Microsoft from $360.00 to $350.00 in a research report on Tuesday, January 18th. Finally, StockNews.com began coverage on shares of Microsoft in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $354.50.

Shares of MSFT opened at $283.22 on Thursday. Microsoft has a fifty-two week low of $238.07 and a fifty-two week high of $349.67. The firm’s 50 day moving average price is $292.52 and its 200 day moving average price is $310.44. The company has a market cap of $2.12 trillion, a P/E ratio of 30.16, a PEG ratio of 2.43 and a beta of 0.91. The company has a quick ratio of 2.21, a current ratio of 2.25 and a debt-to-equity ratio of 0.30.

Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its stake in shares of Microsoft by 0.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 717,041 shares of the software giant’s stock worth $241,156,000 after acquiring an additional 3,421 shares during the period. Steward Financial Group LLC purchased a new position in shares of Microsoft in the 4th quarter valued at about $330,000. Zimmermann Investment Management & Planning LLC purchased a new position in shares of Microsoft in the 4th quarter valued at about $2,550,000. Asahi Life Asset Management CO. LTD. increased its holdings in shares of Microsoft by 1.8% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 198,595 shares of the software giant’s stock valued at $66,791,000 after purchasing an additional 3,512 shares in the last quarter. Finally, WESPAC Advisors SoCal LLC increased its holdings in shares of Microsoft by 1.0% in the 4th quarter. WESPAC Advisors SoCal LLC now owns 54,706 shares of the software giant’s stock valued at $16,891,000 after purchasing an additional 536 shares in the last quarter. Institutional investors own 69.41% of the company’s stock.

In other news, Director Emma N. Walmsley bought 1,600 shares of Microsoft stock in a transaction dated Monday, January 31st. The stock was bought at an average price of $311.53 per share, for a total transaction of $498,448.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bradford L. Smith sold 27,860 shares of the firm’s stock in a transaction on Tuesday, February 8th. The stock was sold at an average price of $304.64, for a total transaction of $8,487,270.40. The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Investors of record on Thursday, May 19th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Wednesday, May 18th. Microsoft’s dividend payout ratio is currently 26.41%.

Microsoft Company Profile (Get Rating)

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 organizations and enterprise divisions.

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