5 Best Blue Chip Stocks To Invest In According to Hedge Funds

3. Meta Platforms Inc (NASDAQ:META)

Number of Hedge Fund Investors: 234

Meta Platforms Inc (NASDAQ:META) ranks third in our list of the best blue chip stocks to invest in according to hedge funds. Meta Platforms Inc’s (NASDAQ:META) business is thriving. Meta Platforms Inc (NASDAQ:META) recently posted stronger-than-expected Q4 results which showed a revenue growth of 25% year over year. Meta Platforms Inc (NASDAQ:META) pleased investors by announcing its first-ever dividend of $0.50 per share. For the first quarter of 2024, Meta Platforms expects total revenue of $34.5 billion – $37 billion, more than the Street’s estimate of $33.87 billion.

The FPA Crescent Fund stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its fourth quarter 2023 investor letter:

“Meta Platforms, Inc. (NASDAQ:META) saw a welcome recovery in engagement and revenue year-to-date following a tough 2022. The company has continued to offer new solutions that allow advertisers to target customers effectively and efficiently via one of the world’s leading digital platforms. Moreover, operating profits are rising due to an organization-wide focus on improving productivity and accelerating the time to market for new products. However, overall profitability continues to be weighed down by losses in the Reality Labs segment. But, there is positive optionality that Meta will emerge from the AI arms race as one of the leading players in the industry.”