Infusive Asset Management Inc. Purchases 10,079 Shares of Meta Platforms, Inc. $META

Infusive Asset Management Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 110.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,194 shares of the social networking company’s stock after buying an additional 10,079 shares during the quarter. Meta Platforms comprises about 5.4% of Infusive Asset Management Inc.’s holdings, making the stock its 4th largest position. Infusive Asset Management Inc.’s holdings in Meta Platforms were worth $12,670,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Keybank National Association OH grew its position in Meta Platforms by 15.7% in the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock valued at $88,319,000 after purchasing an additional 18,169 shares during the period. Becker Capital Management Inc. increased its stake in Meta Platforms by 5.0% during the 3rd quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock valued at $25,741,000 after purchasing an additional 1,657 shares in the last quarter. Diversified Trust Co. raised its holdings in Meta Platforms by 4.1% during the fourth quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock worth $55,487,000 after buying an additional 3,336 shares during the last quarter. Cramer Rosenthal Mcglynn LLC raised its holdings in Meta Platforms by 16.2% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock worth $5,091,000 after buying an additional 968 shares during the last quarter. Finally, Consolidated Investment Group LLC lifted its stake in shares of Meta Platforms by 61.2% in the fourth quarter. Consolidated Investment Group LLC now owns 7,900 shares of the social networking company’s stock valued at $5,215,000 after buying an additional 3,000 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 504 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $629.29, for a total value of $317,162.16. Following the completion of the transaction, the director owned 3,943 shares in the company, valued at $2,481,290.47. This represents a 11.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of Meta Platforms stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total value of $1,268,023.68. Following the sale, the insider owned 1,118 shares in the company, valued at $681,890.56. The trade was a 65.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,170 shares of company stock valued at $24,218,565 in the last ninety days. 13.53% of the stock is owned by corporate insiders.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
• Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
• Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.

Meta Platforms Price Performance

META opened at $566.98 on Monday. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The company’s 50-day moving average is $621.15 and its 200 day moving average is $636.05. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 20.61, a PEG ratio of 1.00 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same quarter last year, the business posted $6.43 EPS. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 7.63%.

Analysts Set New Price Targets

META has been the subject of a number of analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $1,015.00 price objective on shares of Meta Platforms in a report on Thursday, May 28th. Barclays upped their target price on shares of Meta Platforms from $800.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Stifel Nicolaus dropped their price target on shares of Meta Platforms from $805.00 to $780.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Raymond James Financial upgraded Meta Platforms from an “underperform” rating to an “outperform” rating in a research note on Tuesday, June 2nd. Finally, TD Cowen lowered their price objective on Meta Platforms from $820.00 to $800.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $840.60.

About Meta Platforms

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.