Renaissance Investment Group buys $2.6 Million stake in Microsoft Corporation (MSFT)

Microsoft Corporation (MSFT) : Renaissance Investment Group scooped up 38,014 additional shares in Microsoft Corporation during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 47,520 shares of Microsoft Corporation which is valued at $2.6 Million.Microsoft Corporation makes up approximately 1.32% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including ,

On the company’s financial health, Microsoft Corporation reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.71. The company had revenue of $25693.00 million for the quarter, compared to analysts expectations of $25213.70 million. The company’s revenue was down -1.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.71 EPS.

Investors should note that on Mar 15, 2016, Microsoft Corporation announced a cash dividend of $0.3600. The company’s management has announced May 17, 2016 as the ex-dividend date and fixed the record date on May 19, 2016. The payable date has been fixed on Jun 9, 2016.

Many Wall Street Analysts have commented on Microsoft Corporation. Microsoft Corporation was Initiated by Macquarie to “Neutral” on Mar 4, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 1, 2016 to “Outperform” and Lowered the Price Target to $ 63 from a previous price target of $65 .Company shares were Reiterated by FBN Securities on Feb 1, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $65 .

Microsoft Corporation closed down -0.11 points or -0.20% at $54.31 with 2,14,14,227 shares getting traded on Monday. Post opening the session at $54.49, the shares hit an intraday low of $54.3 and an intraday high of $55.15 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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. The Company’s products include operating systems for computing devices servers phones and other intelligent devices; server applications for distributed computing environments; productivity applications; business solution applications; desktop and server management tools; software development tools; video games; and online advertising. It also offers cloud-based solutions that provide customers with software services and content over the Internet by way of shared computing resources located in centralized data centers. It provides consulting and product and solution support services.

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