Alabama Senator Tommy Tuberville has been heavily trading (buying and selling) in the technology behemoth Microsoft Corp. (NASDAQ:MSFT). Notably, Tuberville’s trading history on Capitol Trades shows that the Republican actively trades in the technology sector.
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In October, Tuberville carried out six trades on Microsoft, including buying and selling options as well as stocks. On October 5, the senator sold MSFT stock in the range of $100K to $250K, and on October 13, he bought MSFT stock in the range of $250K to $500K. He also made a smaller purchase of MSFT stock on October 24, in the range of $15K to $50K. On the other hand, Tuberville sold stock options of MSFT on October 28 in the range of $1,000 to $5,000. The exact amounts of the trade remain unknown, as does the profit or loss on the transactions.
Nonetheless, going by Tuberville’s history of perfectly timing trades to earn profits, one may agree that the senator must have surely reaped reasonable gains on the Microsoft trades. In the past month, MSFT stock has gained 7.8%. The Congressman sold three stock options on October 28, just three days after Microsoft reported better-than-expected Q1FY23 results.
Is Microsoft Corp. a Buy?
Wall Street analysts are highly optimistic about Microsoft Corp. On TipRanks, MSFT stock commands a Strong Buy consensus rating based on 24 Buys and three Holds. The average Microsoft price forecast of $293.46 implies 20.8% upside potential to current levels. Meanwhile, the stock has lost 26.9% so far this year.
Moreover, hedge funds have been adding MSFT stock to their portfolios. TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Microsoft Corp. is currently Very Positive, as a whopping 163 hedge funds increased their cumulative holdings of MSFT stock by 12.7 million shares in the last quarter.
Ending Thoughts
Senator Tuberville has been an active trader. Interestingly, he has been alleged to have taken undue advantage of his position to make gains on his investments. Irrespective, the senator continues his trading maneuvers, and investors may choose to follow his trades to make reasonable returns on their investable funds.
