Bessemer Group Boosts Stake in Microsoft Amid Strong Earnings
Bessemer Group Inc., an institutional investor, has increased its position in Microsoft Corporation (NASDAQ: MSFT) by 8.4% in the first quarter, according to its most recent 13F filing with the SEC.
The company owned approximately 6,921,677 shares of Microsoft's stock after acquiring an additional 537,634 shares during the period. This represents about 4.0% of Bessemer Group Inc.'s investment portfolio, making it their 4th largest holding.
Microsoft accounts for a significant portion of Bessemer Group Inc.'s portfolio, with a value of $2,562,197,000 at the end of the most recent reporting period. The company's ownership of Microsoft also indicates that other institutional investors and hedge funds have made changes to their positions in the company.
Other notable investors who increased their stakes in Microsoft during the quarter include Longfellow Investment Management Co. LLC (51.3% increase), Bernzott Capital Advisors (new stake), Timmons Wealth Management LLC (new stake), Fairway Wealth LLC (287.0% increase), and University of Illinois Foundation (new position).
Additionally, Microsoft's recent earnings report exceeded expectations, with quarterly revenue of $90.01 billion and adjusted EPS of $4.74. The company also reported a 31% rise in net income and an 18% year-over-year increase in revenue.