Microsoft (MSFT) continues to vacillate near its intraday trading range top after gapping up at the open. Shares are now up 9% to $47.17, probing their 3-month highs along the $47-$47.50 area. The stock has broken out past its $46.74 resistance and extended as high as $47.31, setting a up for a move higher towards next rez level at $47.70. Some consolidation at current levels could set it up for a move higher towards its 52-wkh at $50.05.
On trading measures, Microsoft Corporation, currently valued at $386.71 billion, has a median Wall Street price target of $48.00 with a high target of $55.00. Approximately 73 million shares have already changed hands, compared to the stock’s average daily volume of 39 million. Currently there are 16 analysts that rate MSFT a ‘Buy’, 14 rate it a ‘Hold’. 3 analyst rates it a ‘Sell’.
In terms of share statistics, Microsoft Corp. has a total of 8.20 billion shares outstanding with 7.91% held by insiders and 71.30% held by institutions. The stock’s short interest currently stands at 1.05%, bringing the total number of shares sold short to 79.74 million.
Offering a dividend yield of 2.62%, shares of the Redmond, Washington-based software maker are up 18.26% year-over-year and 1.50% year-to-date.