5 Value Stocks with Big Buybacks

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

Q3 2022 Buybacks (Million): $7,365

Number of Hedge Fund Holders: 177

Meta Platforms, Inc. (NASDAQ:META) has rallied in 2023 with shares up 8% year to date as the company also has substantial AI potential given its world class employees and its leading position in social media. In terms of buybacks, Meta Platforms, Inc. (NASDAQ:META) is a leader as the company bought back over $7.3 billion worth of stock in Q3.

Rowan Street Capital commented on Meta Platforms, Inc. (NASDAQ:META) in a Q4 2022 investor letter,

Meta Platforms, Inc. (NASDAQ:META) Stock declined -64% in 2022, while their revenues fell just -2% and earnings per share (EPS) declined -37% due to a ramp-up in investment expenses, which we have covered to a great extent in our recent write-up on META). Meta is our second biggest holding in the fund and one that has been a significant detractor from performance in 2022. We published a write-up back in November: Does a $750 billion decline in Meta’s market cap make sense? We strongly encourage you to read it if you have not had a chance to do so. We expect our META holding to be a solid contributor to the fund’s performance over the next several years as well.