Matrix Asset Advisors Adds ADP and P&G, Calls Microsoft’s Q1 Slide a Buy

Overview

• Matrix’s Q1 2026 investor letter reports new partial stakes in Automatic Data Processing, Procter & Gamble, and Nike, and it labels Microsoft’s 24% quarterly drop a buying opportunity.
• The firm says stocks fell 4.33% in the quarter after late‑February military action in Iran pushed up oil and interest rates as worries about AI upended software shares.
• ADP was purchased near $215 at about 18 times forward earnings with a roughly 3.2% dividend yield after a one‑year slide of about 30% tied to AI and labor‑market concerns.
• Procter & Gamble was added near $140 with a roughly 3.0% yield after weak growth pressured the stock, and the company’s record of more than 68 years of dividend raises underpins the case.
• Matrix reports resilient results in the quarter, noting a small gain in its Dividend Income portfolio and Large Cap Value performance that beat the S&P 500.