5 Best Big Tech Stocks To Buy Now

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 220

Meta Platforms, Inc. (NASDAQ:META) was seen in the portfolios of 220 hedge funds during the first quarter. Their total stake value in the company was $25.1 billion.

Meta Platforms, Inc. (NASDAQ:META) is another big tech name offering products that enhance consumer connectivity through mobile devices, personal computers, and more. It is based in Menlo Park, California.

As of July 17, Andrew Boone at JMP Securities holds a Market Outperform rating and a $350 price target on Meta Platforms, Inc. (NASDAQ:META) shares.

This is what ClearBridge Investments said about Meta Platforms, Inc. (NASDAQ:META) in its second-quarter 2023 investor letter:

“Delivering performance through fundamental, bottom-up stock selection has been a constant over our tenure managing the Strategy. We underperformed in the first half of 2022 from being too early in entering several stocks going through negative earnings revisions and have seen relative results rebound over the last 12 months due to better stock picking, especially among earnings reset names such as Netflix and Meta Platforms, Inc. (NASDAQ:META). Also within shadow tech, we added back to our weighting in Meta as steady advertising trends and continued cost management should lead to improved profitability.”