Microsoft Corporation (NASDAQ:MSFT) is a stock Pete Najarian thinks you should own, especially at the price it is at right now.
Furthermore, according to the CNBC contributor, Microsoft Corporation (NASDAQ:MSFT)’s leadership is steering the company in the right direction. Analyzing the stock, Najarian points out that the recent downturn in its price results in an opportunity to bet on the stock.
“This stock was trading up to $47 [per share], previous to the earnings in January, then it pulled back and on that pullback, it hit right where it is right now, around $40.40 [per share]. So the stock is right back where it had come from and it gave up a lot of last year’s gains but this is still a $40 plus stock and we are talking about one of the firms that has been negative on it since it was in the $20s,” Najarian says.
Asked whether he would be a buyer of Microsoft Corporation (NASDAQ:MSFT) at the current level it is at right now, Najarian confirms that he would be. Furthermore, he highlights key figures the company has hit as Satya Nadella holds the reins.
“I like it right here and I think this transition is actually going forward in a really big way. I like Satya Nadella and I think his leadership [is good]. $90 billion overseas, 3% dividend yield, 13 times forward earnings. This is a name I think you’d like to have,” Najarian explains.
In January, Microsoft Corporation (NASDAQ:MSFT) reported revenue of $26.5 billion, gross margin of $16.3 billion, operating income of $7.8 billion and diluted earnings per share of $0.71 per share. The company opened January 26, the day of its quarterly report, at $47.01 per share and closed at $42.66 per share.
As the company reported its performance for the quarter that ended on December 31, 2014, Chief Executive Satya Nadella said that his firm is continuing to transform and is executing against is strategic priorities.
Jeffrey Ubben’s ValueAct Capital remained the institutional investor with the largest share in Microsoft Corporation (NASDAQ:MSFT) by the end of 2014. The firm ended last year with about 74.24 million shares in the software giant.
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