Retirement Stock Portfolio: 5 Safe Tech Stocks To Consider

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 238

Microsoft Corporation (NASDAQ:MSFT) tops our list of the best stocks for retirement. On September 30, the tech giant announced to expand its Xbox cloud gaming service to Australia, Japan, Brazil, and Mexico. The Xbox Game Pass Titles will be accessible through the respective country’s supported devices.

In October, Morgan Stanley lifted its price target on Microsoft Corporation (NASDAQ:MSFT) to $331, while maintaining an Overweight rating on the shares. The firm’s analyst appreciated the company’s new developments in its new segments, Public Cloud and Collaboration and Robotic Process Automation and Task Management. In the past year, Microsoft Corporation (NASDAQ:MSFT) delivered a 37.8% return to shareholders, while the stock gained 407.4% in the past 5 years.

Microsoft Corporation (NASDAQ:MSFT) pays an annual dividend of $2.24 per share, yielding 0.74%. The company has increased its dividend by 31.45% in the past three years. As of Q2 2021, 238 hedge funds tracked by Insider Monkey have positions in Microsoft Corporation (NASDAQ:MSFT), compared with 251 in the previous quarter. The total value of these stakes is $62.4 billion.

In its Q1 2021 investor letter, Polen Capital, an investment management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ:MSFT) was one of them. Here is what the fund said:

“We have written extensively about Microsoft in recent commentaries. It was our leading contributor last year and one of our largest weightings within the Portfolio. It continues to experience business momentum through several dominant, essential, and competitively advantaged businesses, like Office 365 and Azure. The markets it competes for are enormous, which gives the company the ability to compound at scale. In the past quarter alone, the company generated over $40 billion in revenue, representing a 17% growth rate. The inherent operating leverage in Microsoft’s business model continues and led to 34% earnings growth this past quarter. Despite the broad rotation we saw in the first quarter and Microsoft’s robust performance in 2020, we think its business fundamentals continue to exhibit strength, and the stock continues to reflect the fundamentals.”

You can also take a look at 10 Monthly Dividend Stocks To Breeze Through Your Retirement and 10 Dividend Stocks for the Small-Cap Investor

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