Meta Platforms (META) Stock Bought by Two Billionaire Investors

Billionaire hedge fund managers Bill Ackman and David Tepper increased their stakes in Meta Platforms (NASDAQ: META) during the second quarter. Ackman raised his stake by 20%, now making it nearly 10% of his portfolio, while Tepper increased his position by over 50%, totaling 5% of his holdings. Despite these investments, Meta's stock has declined over 3% since June 30 and about 6% since April 1. The stock currently has a P/E ratio of 17.5, lower than the S&P 500's 21.4, indicating potential value for investors considering its long-term prospects.