5 Best Quality Stocks to Buy Now

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

Number of Hedge Fund Holders: 184

% of iShares MSCI USA Quality Factor ETF Holdings: 3.13%

Meta Platforms, Inc. (NASDAQ:META) is the world’s biggest online social network, with 2.5 billion monthly active users. The ecosystem of Meta Platforms, Inc. (NASDAQ:META) comprises of the Facebook app, Instagram, Messenger, and WhatsApp. Advertising is the primary source of revenue for the company accounting for more than 90% of the firm’s total revenue.

Recently, Meta Platforms, Inc. (NASDAQ:META) agreed to settle a lawsuit accusing the social-media platform of granting other parties, including Cambridge Analytica, access to sensitive user data. In the joint petition, Meta Platforms, Inc. (NASDAQ:META) and the Facebook users suing the business stated that they had reached an agreement in principle but did not provide financial or other information.

Meta Platforms, Inc. (NASDAQ:META) was held by 184 hedge fund holders in our database at the end of Q2 2022 and is therefore included in our list of 10 Best Quality Stocks to Buy Now. The stakes held by hedge funds in the stock collectively value over $18.1 billion. Fisher Asset Management was one of the stock’s leading stakeholders in Q2, owning Meta Platforms, Inc. (NASDAQ:META) shares worth over $1.8 billion.