Billionaires Are Crazy About These 5 Stocks

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 289

Number of Billionaire Investors: 33

Microsoft Corporation (NASDAQ:MSFT) is the most favored stock among billionaires. In Q1 2023, Insider Monkey tracked 33 billionaire portfolios with positions in Microsoft Corporation (NASDAQ:MSFT). 

On May 30, Wedbush analyst Daniel Ives increased the price target for Microsoft Corporation (NASDAQ:MSFT) to $375 from $340 and maintained an Outperform rating on the stock. The analyst’s optimism towards Microsoft Corporation (NASDAQ:MSFT) stems from the robust flow of cloud deals and the potential for monetization in the field of artificial intelligence (AI), leading to a more bullish outlook on the company. Wedbush emphasizes that Microsoft Corporation (NASDAQ:MSFT) remains a strong contender on its Best Ideas List. 

According to Insider Monkey’s first quarter database, 289 hedge funds were bullish on Microsoft Corporation (NASDAQ:MSFT), compared to 259 funds in the prior quarter. Billionaire Bill Gates’ Bill & Melinda Gates Foundation Trust is the largest stakeholder of the company, with 39.2 million shares worth $11.3 billion. 

Ariel Global Fund made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its Q1 2023 investor letter:

“Enterprise software provider, Microsoft Corporation (NASDAQ:MSFT) also traded higher in the period alongside the investor enthusiasm for Artificial Intelligence. Microsoft is well positioned as this new technology advances given its large investment in Open AI, the parent company of ChatGPT. Looking ahead, we continue to like Microsoft’s solid fundamentals, competitive positioning and long-term business outlook. We anchor on the company driving value creation by capitalizing on a broad and deep set of opportunities, most notably within Azure, its hybrid cloud infrastructure. The platform continues to demonstrate share gains and strong multi-year purchase intent as enterprises transition to cloud based platforms. At current trading levels, we believe Microsoft’s risk/reward is skewed to the upside.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 20 American Cities With the Highest Uninsured Rates and 10 States that Banned Plastic Bags.