Fideuram Asset Management Ireland dac Invests $19.85 Million in Meta Platforms, Inc. $META

Fideuram Asset Management Ireland dac bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, HoldingsChannel reports. The firm bought 29,568 shares of the social networking company’s stock, valued at approximately $19,852,000. Meta Platforms makes up approximately 1.5% of Fideuram Asset Management Ireland dac’s investment portfolio, making the stock its 11th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Westchester Capital Management Inc. purchased a new position in Meta Platforms in the 3rd quarter valued at approximately $26,000. RHL Group LLC purchased a new position in Meta Platforms during the fourth quarter worth $28,000. Strategic Wealth Advisors LLC purchased a new position in Meta Platforms during the fourth quarter worth $29,000. Key Capital Management INC purchased a new position in Meta Platforms during the fourth quarter worth $48,000. Finally, Entrust Financial LLC purchased a new position in Meta Platforms during the fourth quarter worth $48,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on META. Arete Research set a $735.00 price target on Meta Platforms and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Wall Street Zen cut Meta Platforms from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Mizuho decreased their price objective on Meta Platforms from $850.00 to $835.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Bank of America decreased their price objective on Meta Platforms from $885.00 to $820.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Finally, UBS Group cut Meta Platforms from a “buy” rating to a “neutral” rating in a report on Tuesday, June 2nd. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $840.60.

Meta Platforms Price Performance

NASDAQ:META opened at $593.00 on Monday. The firm has a market capitalization of $1.50 trillion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23. The stock has a 50 day moving average of $618.83 and a 200-day moving average of $636.81. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:META) last posted its earnings results 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. The company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business’s revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the company earned $6.43 earnings per share. Analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. Meta Platforms’s payout ratio is currently 7.63%.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 7,847 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the transaction, the chief technology officer directly owned 414 shares in the company, valued at approximately $251,641.62. The trade was a 94.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $629.45, for a total value of $1,748,612.10. Following the transaction, the chief operating officer owned 10,557 shares of the company’s stock, valued at approximately $6,645,103.65. This represents a 20.83% 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. In the last ninety days, insiders have sold 41,305 shares of company stock valued at $25,567,928. Corporate insiders own 13.53% of the company’s stock.

Meta Platforms News Summary

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

• Negative Sentiment: Meta is reportedly weighing a large stock sale to fund AI infrastructure, sparking dilution concerns and pressuring the shares. Article: Meta weighs big equity raising after blockbuster Google deal
• Negative Sentiment: Meta’s AI rollout has faced another delay, with the Muse Spark developer API still lacking a launch date, raising questions about when the company can monetize its AI investments. Article: Meta repeatedly pushes back new AI model release for developers
• Negative Sentiment: Privacy concerns resurfaced after reports that Meta smart glasses could use facial-recognition-style “faceprint” tracking, which could invite regulatory scrutiny and consumer backlash. Article: Code Reveals Meta Smart Glasses Can Use ‘Faceprint’ Tracking, Raising Privacy Alarms
• Negative Sentiment: Meta is also battling renewed policy and legal pressure in Australia over proposed payments for news, adding another regulatory overhang. Article: Meta accuses Australia of breaching FTA, invokes US ‘trade action’
• Neutral Sentiment: Meta continues to receive bullish long-term commentary from some analysts and investors who view it as a major AI and advertising platform, but that optimism is being overshadowed today by funding and execution concerns. Article: Analyst Sees Multi-Billion Dollar Potential In Meta Platforms’ Subscription Model

Meta Platforms Profile

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.