What are the 5 Best Stocks to Buy Right Now?

2. Microsoft Corporation (NASDAQ: MSFT)

Number of Hedge Fund Holders: 251

Microsoft Corporation (NASDAQ: MSFT) stock has offered investors returns exceeding 38% over the course of the past year. It is placed second on our list of 10 best stocks to buy right now. The company is based in Washington and has a market cap of over $2 trillion. It markets several software-related services but has large stakes in other businesses as well. Last week, media reports indicated that the company was considering investment in Oyo, an Indian startup valued at close to $9 billion that is working in the travel industry. 

On July 28, investment advisory JPMorgan reiterated an Overweight rating on Microsoft Corporation (NASDAQ: MSFT) stock and raised the price target to $310 from $300, noting that the firm recently beat market expectations on earnings. 

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Microsoft Corporation (NASDAQ: MSFT)  with 23.9 million shares worth more than $5.6 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.”