5 Best Stocks In Each Sector

1. Microsoft Corporation (NASDAQ:MSFT)

Market Sector: Information Technology

Number of Hedge Fund Holders: 306

Microsoft Corporation (NASDAQ:MSFT) is a leading provider and manufacturer of operating systems, software, PC accessories and tech gadgets, and more.

33 Wall Street analysts covered Microsoft Corporation (NASDAQ:MSFT)’s stock over the last three months, and 32 analysts maintained a Buy rating on the company shares. The average price target of $410.03 represents an 8.52% upside as of the November 22 market close.

Out of the 910 elite hedge funds that are tracked by Insider Monkey, 306 funds had a stake in Microsoft Corporation (NASDAQ:MSFT)’s stock in Q3, up from 300 in the previous quarter. Michael Larson’s Bill & Melinda Gates Foundation Trust was the most significant shareholder of the company, with 39.286 million shares worth $12.40 billion, representing 31.87% of the fund’s portfolio.

Jackson Peak Capital commented on Microsoft Corporation (NASDAQ:MSFT) in its third quarter 2023 investor letter. Here is what it said:

“The Microsoft Corporation (NASDAQ:MSFT)/Activision Blizzard, Inc. (NASDAQ:ATVI) merger arbitrage came to a successful conclusion with the court denying the FTC’s preliminary injunction request. The deal subsequently received approval from the UK CMA and closed in October. The ATVI position was an example of “staying around the hoop” of a significant arb opportunity. At first, the position led to a small loss in Q2 when the UK CMA initially blocked the deal in April, but we stayed close to the case, analyzed the FTC trial and scaled up the ATVI position as it became apparent FTC had a weak case, meaning the probability of the deal going through was mispriced by the market since the companies would likely find a solution to work with the UK CMA (only global regulator who had an issue) if the FTC lost.”

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