Is this the Best Time to Add Microsoft Corporation (MSFT) Shares to Your Portfolio?

Diamond Hill Capital Management, an investment advisor, released its “Large Cap Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. Despite a challenging second quarter, the fund outperformed the Russell 1000 Index. Favorable stock selection in the technology and consumer discretionary sectors contributed positively to the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best choices in 2022.

Diamond Hill Capital Management discussed stocks like Microsoft Corporation (NASDAQ:MSFT) in the second quarter 2022 investor letter. Microsoft Corporation (NASDAQ:MSFT) is a multinational technology company headquartered in Redmond, Washington. On September 30, 2022, Microsoft Corporation (NASDAQ:MSFT) stock closed at $232.90 per share. One-month return of Microsoft Corporation (NASDAQ:MSFT) was -9.04%, and its shares lost 19.44% of their value over the last 52 weeks. Microsoft Corporation (NASDAQ:MSFT) has a market capitalization of $1.737 trillion.

Here is what Diamond Hill Capital Management specifically said about Microsoft Corporation (NASDAQ:MSFT) in its Q2 2022 investor letter:

"The recent market environment has enabled us to initiate positions in some high-quality names that have sold off indiscriminately and are trading at prices we haven’t seen in quite some time. Microsoft Corporation (NASDAQ:MSFT) is one example. Microsoft’s stock price declined amid the broader selloff of technology companies. This presented an opportunity for us to purchase shares at an attractive discount to our estimate of the intrinsic value. We expect the business to continue generating strong revenue growth and benefiting from operating leverage. Microsoft’s cloud computing services business, Azure, is also generating robust growth, confirming its competitive positioning."

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Microsoft Corporation (NASDAQ:MSFT) holds the top position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 258 hedge fund portfolios held Microsoft Corporation (NASDAQ:MSFT) at the end of the second quarter which was 259 in the previous quarter.

We discussed Microsoft Corporation (NASDAQ:MSFT) in another article and shared the list of the top data center companies in the US. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.