10. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders as of Q4: 262
Fisher Asset Management’s Equity Stake: $3.91 Billion
The parent company of Facebook, WhatsApp, Instagram, Messenger, Meta Platforms, Inc. (NASDAQ:META) delivered strong financial performance in 2024, with total revenue reaching $164.5 billion, growing 22% year-over-year. This growth was primarily driven by the strength of its family of apps, contributing $162.4 billion of the total revenue, up from $133 billion the previous year. The company reported a total profit of $62.4 billion, marking a 59% year-over-year increase. Meta’s workforce expanded by 10% in 2024, ending the year with 74,067 employees, reflecting its ongoing strategic growth and investment in innovation.
The fourth quarter alone accounted for 29.4% of Meta Platforms, Inc. (NASDAQ:META)’s annual revenue, generating $48.4 billion in revenue and over $20.8 billion in profit for the period. Meta’s strong Q4 performance included a 21% year-over-year revenue increase, surpassing analyst expectations, while earnings per share (EPS) rose by 50% to $8.02, surpassing the forecasted $6.76. Despite the company’s impressive financial metrics, its Reality Labs division, which focuses on virtual and augmented reality technologies, recorded an operating loss of $5 billion on revenue of nearly $1.1 billion. The company’s expanding influence on emerging technologies, particularly AI integration across its platforms, positions it as a continued leader in the tech sector.
By the end of Q4 2024, 262 hedge funds held stakes in Meta Platforms, Inc. (NASDAQ:META), up from 235 in the previous quarter. Hedge fund holdings in the company surged to approximately $59.4 billion, according to Insider Monkey’s database. This increase reflects investor belief in Meta’s strategic vision and its ability to deliver long-term shareholder value through sustained innovation, robust earnings growth, and a dominant presence in digital advertising.
With over 6.6 million shares reported in its 13F holding, Ken Fisher holds a stake of approximately $3.90 billion in Meta Platforms, Inc. (NASDAQ:META), making it tenth on the list of top tech stocks to buy according to the billionaire.
Rowan Street Capital stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its Q4 2024 investor letter:
“Meta Platforms, Inc. (NASDAQ:META): Investment Initiated: April 2018: Internal Rate of Return (IRR*): 22% *IRR represents the annualized rate of return on an investment, accounting for the timing and magnitude of cash flows over the holding period.
For META, our 22% IRR aligns closely with the company’s compounded growth in earnings per share (EPS) and free cash flow per share during the 6 years holding period.
Looking ahead, Meta is expected to grow its revenues, earnings, and free cash flow per share at mid-teens rates over the next two years. There’s a good possibility that it could exceed these estimates, considering the breadth of growth initiatives currently in place, such as advancements in Al, monetization of Reels, expansion into business messaging, and the ongoing development of the metaverse…” (Click here to read the full text)
