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Bridgewater Associates reduces position in Microsoft

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Nov. 20 2020, Updated 3:58 p.m. ET

Bridgewater Associates and Microsoft 

Bridgewater Associates’ new positions in 3Q14 include American Express (AXP) and United Parcel Service (UPS). Positions sold include ConAgra Foods, Inc. (CAG) and Carnival Corp. (CCL). The fund increased its position in United Technologies Corp. (UTX), Analog Devices (ADI), and CA, Inc. (CA). It decreased its stake in Intel (INTC), Microsoft (MSFT), and Ventas, Inc. (VTR).

The hedge fund reduced its position in Microsoft. According to 13F filings for 3Q14, it accounts for 0.01% of the total portfolio—compared to 0.24% in 2Q14.

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About Microsoft

Microsoft is an American multinational corporation. It was founded in 1975. It’s headquartered in Washington. Microsoft develops, manufactures, licenses, supports, and sells computer software, consumer electronics, and services.

Microsoft’s flagship products including Xbox gaming consoles and Microsoft’s Surface tablet lineup. According to revenue, Microsoft is the world’s largest software maker. It’s one of the world’s most valuable companies.

Microsoft released 1Q15 earnings

In October 2014, Microsoft declared its 1Q15 earnings. The company’s revenue and non-generally accepted accounting principles, or non-GAAP, and earnings per share, or EPS, were $23.20 billion and $0.54 per share, respectively. Microsoft beat analysts’ revenue and EPS expectations. Analysts estimated $22.01 billion and $0.49 per share, respectively.

For the period, commercial revenues were $12.28 billion. The device and consumer revenue was $10.96 billion. EPS declined on a year-over-year, or YoY, basis. The EPS for 1Q15 was $0.11 per share due to Microsoft’s restructuring plan and the Nokia acquisition. The EPS for 1Q14 was $0.62 per share.

Microsoft announced layoffs 

In July 2014, Microsoft announced plans to eliminate jobs for over 18,000 employees associated with the Nokia Devices and Services team it acquired earlier in the year. According to management, the eliminated jobs will affect professional and factory workers. The layoffs will help reduce redundancies.

Microsoft will incur pretax charges of $1.1–$1.6 billion for severance costs, other related benefits costs, and asset-related charges over the next year.

Microsoft eliminated large numbers of personnel in 2009. The workforce reduced by 5,800 employees. At the time, Microsoft’s CEO attributed the cuts to a “response to the global economic downturn.”

For a detailed analysis of Microsoft, please read Market Realist’s report on the firm’s 1Q15 earnings.

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