5 Best NASDAQ Stocks To Buy In 2024

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1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 306

Microsoft Corporation (NASDAQ:MSFT) ranks 1st on our list of the best NASDAQ stocks to buy in 2024. On January 30, Microsoft Corporation (NASDAQ:MSFT) announced financial results for the quarter ended December 31, 2023. The company reported GAAP EPS of $2.93 and a revenue of $62.02 billion, outperforming Wall Street estimates by $0.16 and $890 million, respectively. Microsoft is set to pay a $0.75 per share quarterly dividend on March 14, to shareholders of record on February 15. 

According to Insider Monkey’s third quarter database, 306 hedge funds were bullish on Microsoft Corporation (NASDAQ:MSFT), compared to 300 funds in the last quarter. Bill & Melinda Gates Foundation Trust is the largest stakeholder of the company, with 39.2 million shares worth $12.4 billion. 

Madison Sustainable Equity Fund stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its fourth quarter 2023 investor letter:

“Microsoft Corporation’s (NASDAQ:MSFT) sustainable scorecard was updated with an unchanged rating of Above Average. The company’s board has an official Environmental, Social, and Public Policy Committee in addition to the traditional Audit, Compensation, and Governance committees. For ten years, Microsoft has publicly released data measuring the diversity of its workforce. With the prominence of Artificial Intelligence (AI), the company has launched a 5-point blueprint for governing AI to address public policy and regulation. Environmentally, Microsoft has multiple programs to be carbon negative by 2030. The company has signed Purchase Power Agreements for carbon-free energy totaling 13.5 Gigawatts.”

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