5 Best Blue Chip Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 194

Meta Platforms, Inc. (NASDAQ:META) is a social media giant that could benefit if TikTok is forced to sell itself as that would cause a distraction for TikTok management. Although it is still committed to investing tens of billions in the future in building a metaverse, Meta Platforms, Inc. (NASDAQ:META) has nevertheless cut costs with layoffs of around 10,000 people and the closing of 5,000 additional open roles the company hasn’t filled yet. After the restructuring, however, the company plans to lift its hiring and transfer freezes. 194 hedge funds in our database owned shares of Meta Platforms, Inc. (NASDAQ:META) at the end of Q4, ranking the stock #3 on our list of 10 Best Blue Chip Stocks to Buy According to Hedge Funds.