Thrivent Financial for Lutherans has increased its investment in Microsoft Corporation, now holding a stake valued at approximately $1.95 billion. According to a recent disclosure with the Securities and Exchange Commission, the firm raised its position by 1.4% during the third quarter, acquiring an additional 52,163 shares. As of the end of that quarter, Thrivent owned 3,755,922 shares of the technology giant, making it the second largest position in their portfolio, which allocates about 3.8% to Microsoft.
Several other institutional investors have also adjusted their stakes in Microsoft. For instance, Victrix Investment Advisors increased its position by 2.0%, now owning 18,620 shares valued at $9,644,000. Similarly, Topsail Wealth Management LLC raised its stake by 7.0%, resulting in ownership of 16,509 shares worth $8,551,000.
Notably, Sageworth Trust Co of South Dakota saw a significant increase of 109.3% in its holdings, acquiring 871 additional shares to bring its total to 1,668 shares, valued at $864,000. Other firms such as Donaldson Capital Management LLC and Martin Investment Management LLC also made slight increases to their positions, reflecting a broader trend of institutional investment in Microsoft.
As of the latest trading session, Microsoft shares experienced a decline of 2.2%, opening at $392.74. The company’s stock has fluctuated significantly over the past year, with a low of $344.79 and a high reaching $555.45. Microsoft maintains a market capitalization of $2.92 trillion, with a price-to-earnings ratio of 24.56.
Dividend Announcements and Insider Activity
Microsoft has also announced a quarterly dividend of $0.91 per share, scheduled for payment on March 12, 2024. Shareholders of record as of February 19, 2024 will be eligible for this dividend, which represents an annualized yield of 0.9% and a payout ratio of 22.76%.
In insider trading news, Director John W. Stanton purchased 5,000 shares at an average price of $397.35 each, totaling approximately $1,986,750. Following this transaction, Stanton’s total holdings rose to 83,905 shares, valued at around $33,339,651.75. Conversely, CEO Judson Althoff sold 12,750 shares at an average price of $491.52, resulting in a total transaction value of $6,266,880.
Analyst Ratings and Market Outlook
Microsoft has garnered attention from multiple analysts, with various ratings and price targets being issued recently. Piper Sandler reiterated an “overweight” rating, adjusting the target price to $600.00 from $650.00. Meanwhile, Guggenheim reaffirmed a “buy” rating with a target price of $586.00.
In a similar vein, Royal Bank Of Canada maintained an “outperform” rating with a price objective of $640.00. Overall, two analysts rated Microsoft with a “Strong Buy,” while thirty-nine issued a “Buy” rating, and four analysts suggested a “Hold.” The consensus rating stands at “Moderate Buy,” with a projected price target of $591.95.
In summary, Thrivent Financial for Lutherans’ increased stake in Microsoft highlights the ongoing confidence among institutional investors in the technology sector. With significant activity from both insider transactions and analyst ratings, Microsoft continues to be a focal point for investors looking toward future growth.
