Is Meta Platforms (FB) a Smart Long-Term Buy?

Distillate Capital Partners LLC, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. Distillate’s U.S. FSV outperformed S&P 500 in the first quarter of 2022 with a return of -3.60% net of fees versus -4.60% for the benchmark. Since its inception in 2017, annualized performance is now 1.93% ahead of the S&P 500 after fees. The U.S. FSV strategy lagged against the Russell 1000 Value ETF benchmark in the first quarter of 2022 but remains 7.41% ahead annualized since inception. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Harding Loevner Global Equity Fund mentioned Meta Platforms, Inc. (NASDAQ:FB) and explained its insights for the company. Founded in 2004, Meta Platforms, Inc. (NASDAQ:FB) is a Menlo Park, California-based multinational technology conglomerate with a $421.7 billion market capitalization. Meta Platforms, Inc. (NASDAQ:FB) delivered a -53.66% return since the beginning of the year, while its 12-month returns are down by -54.24%. The stock closed at $155.85 per share on June 22, 2022.

Here is what Harding Loevner Global Equity Fund has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q1 2022 investor letter:

“Taking advantage of valuation opportunities created by performance differences, the U.S. FSV strategy increased its weight in communications by around 2.5% by adding Meta Platforms. The largest new purchase was Meta Platforms (NASDAQ:FB), the parent of Facebook, which dropped in price by around 35% in the quarter and was repurchased after being sold at the end of last year.”


Photo by Alexander Shatov on Unsplash

Our calculations show that Meta Platforms, Inc. (NASDAQ:FB) ranks 4th on our list of the 30 Most Popular Stocks Among Hedge Funds. Meta Platforms, Inc. (NASDAQ:FB) was in 200 hedge fund portfolios at the end of the first quarter of 2022, compared to 224 funds in the previous quarter. Meta Platforms, Inc. (NASDAQ:FB) delivered a -26.99% return in the past 3 months.

In February 2022, we published an article that includes Meta Platforms, Inc. (NASDAQ:FB) in 5 Best Metaverse ETFs To Buy. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.