5 Tech Stock Picks from Andrew Immerman and Jeremy Schiffman’s Palestra Capital Management

4. Microsoft Corporation (NASDAQ:MSFT)

Immerman and Schiffman’s Stake Value: $252,447,000
Percentage of Andrew Immerman and Jeremy Schiffman’s 13F Portfolio: 5.43%
Number of Hedge Fund Holders: 238

On September 14, Microsoft Corporation (NASDAQ: MSFT) declared a quarterly dividend of $0.62 per share, a 10.7% increase from the prior dividend of $0.56.

Palestra Capital Management owns 931,881 shares of Microsoft Corporation (NASDAQ:MSFT), worth $252.45 million. This represented 5.43% of the investment portfolio of Palestra Capital Management. There were 238 hedge funds in our database that held stakes in Microsoft Corporation (NASDAQ:MSFT) in the second quarter of 2021, compared to 251 funds in the previous quarter. 

Baron Opportunity Fund, in its second-quarter 2021investor letter, mentioned Microsoft Corporation (NASDAQ:MSFT). Here is what the fund said: 

“Shares of Microsoft Corporation, a cloud-software leader and provider of software productivity tools and infrastructure, rose during the quarter following a strong earnings report highlighting solid demand for its broad product stack and continued momentum migrating its business to the cloud. Microsoft was a top contributor in the period because it trades at reasonable free cash flow and earnings valuations, has cloud and digital transformation tailwinds at its back, reported a solid March quarter, and beat Street expectations by a wide margin. Microsoft’s results continued to be strong across the board, with Azure cloud computing revenues up 46% in constantcurrency (“cc”) terms and commercial cloud bookings growth of 38% cc, the best in years. Microsoft also reported robust profitability growth, with operating income expanding 31% and GAAP earnings up 45%. We believe the company is well positioned for continued solid growth and profitability through market share gains as more companies look to transform and digitize their businesses as they move operations to the cloud.”