Investors tend to get excited about stock splits — unnecessarily so, though, because a stock split is much less of a big deal than many people realize. Still, if you’re wondering which next stock split could make you rich, I offer this possibility: Meta Platforms (META 1.47%), parent company of Facebook — plus Messenger, Instagram, and WhatsApp.

It has grown into a $1.7 trillion social media juggernaut, and its future remains promising, in part due to its hefty investments in artificial intelligence (AI). And better still, while lots of major tech companies are investing heavily in AI, Meta Platforms is already deriving a lot of revenue from it — much more than OpenAI’s ChatGPT, even.

Image source: Getty Images.

Meta Platforms has averaged annual gains of77% over the past three years (and 20% over the past decade), and despite that, its stock still seems appealingly valued. Its recent forward-looking price-to-earnings (P/E) ratio was only 20, which is rather low for a growth stock that’s still growing briskly. In its third quarter, for instance, Meta posted year-over-year revenue growth of 26% and an 18% rise in income from operations.

Meta Platforms

Today’s Change

(-1.47%) $-9.68

Current Price

$650.41

Meta Platforms is also a dividend-paying stock, with a recent dividend yield of 0.3%. That’s not a lot, but its rapid growth and great profitability suggest that it could up its payout significantly in the years to come.

The reasons above are why you should consider an investment in Meta Platforms. Don’t give a possible stock split much thought. Remember that while a stock split will increase the number of shares you own, it will also reduce the value of each share proportionately. So if you owned 10 shares of Meta Platforms at its recent share price of $660, that would be worth $6,600. If it split, say, 2 for 1, you’d own 20 shares, valued at around $330 each, for a total value of $6,600. Focus on the company, not the stock price.