Thrivent Financial for Lutherans has increased its investment in Microsoft Corporation (NASDAQ: MSFT) by 1.4% in the third quarter, as disclosed in a recent filing with the Securities and Exchange Commission. The fund now holds a total of 3,755,922 shares of Microsoft, having acquired an additional 52,163 shares during the quarter. This acquisition raises Microsoft’s share of Thrivent’s portfolio to 3.8%, solidifying its position as the fund’s second-largest investment. As of the end of the quarter, Thrivent’s stake in Microsoft is valued at approximately $1.95 billion.
Several other institutional investors have also adjusted their holdings in Microsoft. Victrix Investment Advisors increased its stake by 2.0%, now owning 18,620 shares valued at $9,644,000. Topsail Wealth Management LLC saw a significant boost in its position, growing by 7.0% to hold 16,509 shares worth $8,551,000. Sageworth Trust Co of South Dakota made a notable increase of 109.3%, acquiring 1,668 shares valued at $864,000. Other firms such as Donaldson Capital Management LLC and Martin Investment Management LLC also raised their investments during the same period.
As of now, approximately 71.13% of Microsoft’s shares are owned by hedge funds and institutional investors.
Microsoft Stock Performance and Dividend Announcement
On Friday, Microsoft shares opened at $392.74, reflecting a decrease of 2.2% from previous trading. The stock has seen a one-year low of $344.79 and a high of $555.45. Microsoft’s financial metrics indicate a market capitalization of $2.92 trillion, a P/E ratio of 24.56, and a P/E/G ratio of 1.57.
In related news, Microsoft announced a quarterly dividend of $0.91 per share, set to be paid on March 12, 2024. Shareholders on record as of February 19, 2024 will receive this dividend, which represents an annual yield of 0.9% and a payout ratio of 22.76%.
Insider Transactions and Analyst Ratings
Recent insider activity at Microsoft included Director John W. Stanton purchasing 5,000 shares at an average price of $397.35 per share, totaling approximately $1,986,750. This purchase increased his ownership by 6.34%. Conversely, CEO Judson Althoff sold 12,750 shares for $6,266,880, decreasing his stake by 8.97%.
Market analysts have been actively assessing Microsoft’s stock. Piper Sandler reaffirmed an “overweight” rating with a target price of $600.00, down from $650.00. Guggenheim and Royal Bank of Canada also maintained positive outlooks, projecting target prices of $586.00 and $640.00, respectively. Overall, Microsoft has received multiple ratings, with two analysts giving it a “Strong Buy” rating, thirty-nine a “Buy” rating, and four a “Hold” rating, resulting in a consensus price target of $591.95.
Microsoft Corporation, established in 1975 by Bill Gates and Paul Allen, is headquartered in Redmond, Washington. The company develops a wide array of software products, services, and devices for individual and corporate users globally, offering notable products such as the Windows operating system and Microsoft 365 suite.
For those interested in further developments regarding Microsoft’s stock and institutional holdings, resources such as HoldingsChannel.com provide up-to-date information on 13F filings and insider trading activities.
