Union Savings Bank bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,089 shares of the social networking company’s stock, valued at approximately $1,379,000. Meta Platforms accounts for approximately 0.6% of Union Savings Bank’s investment portfolio, making the stock its 29th largest holding.
Other large investors also recently modified their holdings of the company. Westchester Capital Management Inc. bought a new position in Meta Platforms in the third quarter worth about $26,000. RHL Group LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $29,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $42,000. Finally, Key Capital Management INC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $48,000. 79.91% of the stock is currently owned by institutional investors.
Meta Platforms Stock Performance
NASDAQ:META opened at $577.22 on Monday. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.02 and a beta of 1.23. The business has a fifty day moving average of $621.27 and a 200-day moving average of $634.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.4%. Meta Platforms’s dividend payout ratio (DPR) is presently 7.63%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Cantor Fitzgerald lowered their price objective on Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Susquehanna raised shares of Meta Platforms from a “positive” rating to a “positive” rating in a report on Tuesday, June 2nd. Arete Research set a $735.00 price target on shares of Meta Platforms and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Erste Group Bank cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, UBS Group downgraded shares of Meta Platforms from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Three 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $840.60.
Meta Platforms News Summary
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Wall Street commentary remains constructive on Meta’s long-term AI strategy, with Evercore ISI’s Mark Mahaney naming META one of the best “Magnificent 7” stock buys, reinforcing the view that the stock may still offer upside after its recent pullback. Article: Famous Wall Street Tech Analyst Names Meta and Amazon the Best Magnificent 7 Stock Buys Today
- Positive Sentiment: Meta continues to expand its AI infrastructure, including new computing deals with Crusoe and a strategic data-center partnership in India, which supports the company’s long-term AI capacity and monetization plans. Article: Meta signs new AI computing deals with data center firm Crusoe
- Positive Sentiment: Meta also drew favorable attention for rolling out new AI features for Facebook creators and broader AI tools that could deepen engagement and create new ad products over time. Article: Meta Platforms Rolls Out New AI Features On Facebook For Content Creators
- Neutral Sentiment: Meta continues to get attention for its cloud-computing ambitions, but that move is still viewed as a longer-term optionality story rather than an immediate earnings driver. Article: Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
- Neutral Sentiment: Meta’s strong last reported quarter and upcoming dividend remain supportive, but these are already well known and are not the main catalysts behind today’s trading. Article: META stock and company profile
- Negative Sentiment: Sentiment was hurt by reports that a senior AI executive is leaving Meta during a major AI transition, raising execution concerns at a time when the company is trying to accelerate its artificial intelligence roadmap. Article: Meta head of product for ‘AI for work’ transformation is leaving company
- Negative Sentiment: Meta was also hit by reports that attackers exploited its AI-powered support chatbot to take over high-profile Instagram accounts, adding security and trust concerns around its AI tools and platform controls. Article: Meta faces AI support breach as key internal AI executive exits
- Negative Sentiment: Meta is also facing regulatory and legal pressure, including a Washington high court decision upholding a $35 million campaign finance penalty, which adds to headline risk. Article: Washington high court upholds $35 million campaign finance penalty against Meta
Insiders Place Their Bets
In related news, insider Curtis J. Mahoney sold 2,079 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the transaction, the insider owned 1,118 shares in the company, valued at $681,890.56. This trade represents a 65.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, COO Javier Olivan sold 140 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $600.00, for a total value of $84,000.00. Following the sale, the chief operating officer directly owned 12,846 shares in the company, valued at approximately $7,707,600. The trade was a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 39,013 shares of company stock worth $24,115,999. 13.53% of the stock is owned by corporate insiders.
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.
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