Tobam Increases Stock Position in Meta Platforms, Inc. $META

Tobam lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 1,067.0% during the 4th quarter, HoldingsChannel reports. The firm owned 9,768 shares of the social networking company’s stock after acquiring an additional 8,931 shares during the quarter. Meta Platforms accounts for about 1.6% of Tobam’s investment portfolio, making the stock its 19th largest holding. Tobam’s holdings in Meta Platforms were worth $6,448,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Meta Platforms during the fourth quarter valued at approximately $22,152,075,000. Vanguard Group Inc. increased its stake in Meta Platforms by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after acquiring an additional 7,269,279 shares during the last quarter. Corient Private Wealth LLC increased its stake in Meta Platforms by 488.1% in the 4th quarter. Corient Private Wealth LLC now owns 5,466,595 shares of the social networking company’s stock worth $3,608,445,000 after acquiring an additional 4,537,076 shares during the last quarter. State Street Corp raised its holdings in shares of Meta Platforms by 5.1% during the 4th quarter. State Street Corp now owns 90,841,345 shares of the social networking company’s stock worth $59,963,463,000 after acquiring an additional 4,395,763 shares in the last quarter. Finally, Amundi raised its holdings in shares of Meta Platforms by 56.2% during the 4th quarter. Amundi now owns 10,043,955 shares of the social networking company’s stock worth $6,629,913,000 after acquiring an additional 3,613,211 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

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

Meta Platforms Stock Performance

META opened at $577.22 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The stock’s 50 day moving average price is $621.27 and its 200-day moving average price is $634.15. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 1.02 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same period last year, the company earned $6.43 EPS. Meta Platforms’s quarterly revenue was up 33.1% compared to the same quarter last year. On average, equities analysts forecast that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Announces Dividend

The firm 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 0.4%. Meta Platforms’s dividend payout ratio (DPR) is presently 7.63%.

Insider Transactions at Meta Platforms

In related news, insider Curtis J. Mahoney sold 2,079 shares of the firm’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 transaction, the insider owned 1,118 shares of the company’s stock, valued at $681,890.56. This trade represents a 65.03% decrease in their position. The transaction 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. Also, COO Javier Olivan sold 140 shares of Meta Platforms stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $600.00, for a total transaction of $84,000.00. Following the sale, the chief operating officer owned 12,846 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 40,568 shares of company stock worth $25,057,365. 13.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on META shares. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a report on Friday, March 27th. Guggenheim decreased their price target on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Barclays upped their price target on shares of Meta Platforms from $800.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Arete Research set a $735.00 price objective on shares of Meta Platforms and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Mizuho reduced their target price on shares of Meta Platforms from $850.00 to $835.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.