Microsoft (MSFT) made a significant announcement on Monday, revealing plans to buy back up to $60 billion of its stock and increase its quarterly dividend by over 10%. Following this news, MSFT stock experienced a slight rise on Tuesday.
↑
X
Stocks Hit Pause Button As Fed Looms; Mr. Cooper, The Bancorp, Vistra In Focus
The tech giant also stated that the new repurchase program is subject to cancellation at any time. While $60 billion is a substantial amount, it represents less than 1.9% of Microsoft stock’s $3.206 trillion valuation.
In addition, Microsoft will raise its quarterly dividend by 8 cents, bringing it to 83 cents per share. This marks the company’s 20th consecutive year of dividend growth.
On Tuesday, Microsoft stock saw a 0.9% increase, reaching 435.07. The stock has been on an upward trend for seven consecutive sessions, surpassing all its moving averages and exceeding a short-term high of 426.79.
With a cup-base buy point of 268.35, Microsoft is currently actionable as an IBD Long-Term Leader.
For stock market updates and more, follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson.
YOU MAY ALSO LIKE:
Why This IBD Tool Simplifies The Search For Top Stocks
Catch The Next Big Winning Stock With MarketSmith
Want To Get Quick Profits And Avoid Big Losses? Try SwingTrader
Best Growth Stocks To Buy And Watch
IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today
Dow Giant Leads S&P 500, And Keeps Running Late; Apple Chipmakers Plunge