5 Best Big Name Stocks to Buy Right Now

3. Meta Platforms Inc (NASDAQ:META)

Number of Hedge Fund Investors: 242

Meta Platforms Inc (NASDAQ:META) is in the spotlight after the company crushed Q4 estimates set by the Wall Street. Meta Platforms Inc’s (NASDAQ:META) ads revenue jumped 23.8% year over year to $38.7 billion. GAAP EPS in the fourth quarter totaled $5.33, beating estimates by $0.39. Revenue in the quarter jumped 24.7% year over year to $40.11 billion, surpassing estimates by $940 million.

A total of 242 hedge funds in Insider Monkey’s database had stakes in Meta Platforms Inc (NASDAQ:META). The biggest stakeholder in Meta Platforms Inc (NASDAQ:META) was Rajiv Jain’s GQG Partners which owns a $3.95 billion stake in Meta Platforms Inc (NASDAQ:META).

Fundsmith Equity Fund stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its 2023 investor letter:

Meta Platforms, Inc.’s (NASDAQ:META) (formerly Facebook) performance makes me wonder whether I should have a fund which invests solely in the one stock in our portfolio each year for which we have received the most critical comments. Meta makes its third appearance in this list of top contributors while Microsoft appears for the eighth time having attracted strident criticism when we started buying at about $25 a share in 2011 (2023 year end price $376).”