Thrivent Financial for Lutherans has increased its investment in Microsoft Corporation, now holding a stake valued at approximately $1.95 billion. According to the latest disclosure with the Securities and Exchange Commission, the fund grew its position by 1.4% during the third quarter, acquiring an additional 52,163 shares. This brings its total holdings to 3,755,922 shares, representing 3.8% of its overall portfolio, making Microsoft its second-largest investment.
Several other investment firms have also adjusted their positions in Microsoft recently. Victrix Investment Advisors raised its stake by 2.0%, now owning 18,620 shares worth $9,644,000. Topsail Wealth Management LLC increased its holdings by 7.0%, bringing its total to 16,509 shares valued at $8,551,000. Notably, Sageworth Trust Co of South Dakota reported a significant increase of 109.3% in its Microsoft holdings, now owning 1,668 shares valued at $864,000.
The trend of institutional investment in Microsoft continues, with hedge funds and other institutions currently owning 71.13% of the stock.
Current Stock Performance
As of Friday, Microsoft shares opened at $392.74, reflecting a decrease of 2.2%. The stock has encountered volatility, with a 50-day moving average of $443.56 and a 200-day moving average of $483.82. Over the past year, Microsoft has seen its stock range from a low of $344.79 to a high of $555.45. The company boasts a market capitalization of $2.92 trillion and a P/E ratio of 24.56.
Additionally, Microsoft recently announced a quarterly dividend to be paid on March 12, 2024. Shareholders of record on February 19, 2024 will receive a dividend of $0.91 per share, translating to an annualized dividend of $3.64 and a yield of 0.9%. The company’s dividend payout ratio stands at 22.76%.
Insider Activity and Analyst Ratings
In related news, Director John W. Stanton acquired 5,000 shares of Microsoft on February 18, 2024, at an average price of $397.35 per share, totaling $1,986,750. This purchase increased his holdings to 83,905 shares, valued at over $33.3 million. Conversely, CEO Judson Althoff sold 12,750 shares on December 2, 2023, at an average price of $491.52, which represented an 8.97% decrease in his ownership.
Analysts have recently set new price targets for Microsoft, reflecting a generally positive outlook on the stock. Piper Sandler maintained an “overweight” rating with a target price of $600.00, down from $650.00. Guggenheim also reiterated a “buy” rating with a price target of $586.00. According to MarketBeat, the overall consensus rating for Microsoft is “Moderate Buy,” with a consensus price target of $591.95.
Microsoft Corporation, headquartered in Redmond, Washington, is a leading global technology company founded in 1975 by Bill Gates and Paul Allen. The company is known for its extensive range of software products and services, including the Windows operating system and Microsoft 365 suite.
For those interested in tracking investment changes or learning more about Microsoft’s performance, resources such as HoldingsChannel.com provide the latest filings and insider trading information.
