Opal Capital LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,450 shares of the social networking company’s stock, valued at approximately $1,656,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Westchester Capital Management Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at $26,000. RHL Group LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $29,000. Niles Investment Management LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $29,000. Finally, Key Capital Management INC acquired a new stake in Meta Platforms in the fourth quarter valued at $48,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Stock Up 1.1%
Shares of Meta Platforms stock opened at $600.21 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $622.04 and its 200-day simple moving average is $635.51. The stock has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.05 and a beta of 1.23. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25.
Meta Platforms Dividend Announcement
The company 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 $0.525 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is 7.63%.
Insider Transactions at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction dated 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 in the company, valued at $6,645,103.65. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total value of $1,268,023.68. Following the completion of 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 39,170 shares of company stock worth $24,218,565. 13.53% of the stock is owned by company insiders.
More Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta’s new AI Mode in Facebook Search and related AI tools could open a new monetization stream and improve engagement across its apps. Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
- Positive Sentiment: Bank of America reiterated a Buy rating, saying Meta’s AI strategy remains a key growth catalyst. BofA Reiterates Buy Rating on Meta Platforms (META) Cites AI Strategy a Key Growth Catalyst
- Positive Sentiment: Threads reached 500 million monthly active users, highlighting continued platform growth and stronger user engagement. Meta’s Threads reaches 500 million monthly users, rolls out new features
- Neutral Sentiment: Meta’s CTO said morale in the AI unit is near historic lows, which may reflect execution challenges even as the company doubles down on AI. Meta’s CTO says morale is almost ‘the worst it’s ever been’
- Negative Sentiment: Apple’s upcoming AI-powered AirPods and smart glasses could intensify competition in the AI wearables market, potentially challenging Meta’s device strategy. Apple to launch AI-juiced AirPods and sunglasses, going head-to-head with Meta
- Negative Sentiment: Reports of consumer-protection lawsuits in Europe add another regulatory overhang for Meta. Consumer Protection: Three Chances for Damages from Meta Platforms
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on META. Erste Group Bank cut Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,015.00 target price on shares of Meta Platforms in a report on Thursday, May 28th. Roth Mkm reaffirmed a “buy” rating on shares of Meta Platforms in a report on Thursday, April 30th. Wells Fargo & Company cut their target price on shares of Meta Platforms from $770.00 to $765.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Finally, UBS Group cut shares of Meta Platforms from a “buy” rating to a “neutral” rating in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $840.60.
Read Our Latest Report on META
Meta Platforms Company 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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