From Nasdaq, Inc.:

Investors had a lot to take in this week, with Meta Platforms declaring its first-ever dividend after stellar Q4 results. This news pushed the stock up by over 20% in Friday’s trading session, while other big tech companies, such as Apple and Amazon, also saw positive Q4 results.

Meta’s Q4 earnings of $5.33 per share beat expectations by 10%, and quarterly sales of $40.11 billion climbed 25% year over year. The company’s annual earnings soared 51% to $14.87 per share versus $9.83 a share in 2022, fueled by growth in the metaverse and investments in AI and data center architecture for FY24.

With Meta’s Q4 earnings beat and the initiation of a quarterly dividend, the company’s stock is showing strong positive momentum, and investors should consider buying in now with a Zacks Rank #2 (Buy). Meta has continued to rally on earnings beats and now has an average earnings surprise of 19.71% in its last four quarterly reports.

Zacks is recommending 10 top stocks to buy and hold for 2024, which include Meta Platforms, Inc. (META), as well as Amazon.com, Inc. (AMZN) and Apple Inc. (AAPL), following the strong finish to Q4 for these companies.



Read more: Meta (META) Beats Earnings Estimates and Announces First Ever Dividend is it Time to Buy?