Amica Mutual Insurance Co. Sells 5,204 Shares of Meta Platforms, Inc. $META

Amica Mutual Insurance Co. lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,128 shares of the social networking company's stock after selling 5,204 shares during the quarter. Meta Platforms makes up about 2.0% of Amica Mutual Insurance Co.'s holdings, making the stock its 7th largest position. Amica Mutual Insurance Co.'s holdings in Meta Platforms were worth $22,528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC increased its position in shares of Meta Platforms by 34.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 52,252 shares of the social networking company's stock valued at $38,373,000 after buying an additional 13,311 shares during the period. Keybank National Association OH boosted its position in shares of Meta Platforms by 15.7% during the fourth 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 in the last quarter. Becker Capital Management Inc. grew its stake in Meta Platforms by 5.0% in the third quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company's stock worth $25,741,000 after purchasing an additional 1,657 shares during the period. Diversified Trust Co. raised its holdings in Meta Platforms by 4.1% in the fourth quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company's stock worth $55,487,000 after purchasing an additional 3,336 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC lifted its position 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 valued at $5,091,000 after buying an additional 968 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Key Meta Platforms News

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 Stock Performance

Meta Platforms stock opened at $593.00 on Monday. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25. The business's fifty day moving average is $618.83 and its 200 day moving average is $636.81. The stock 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 company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (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 business had revenue of $56.31 billion for the quarter, compared to analysts' expectations of $55.56 billion. During the same quarter in the prior year, the business earned $6.43 EPS. The business's revenue for the quarter was up 33.1% compared to the same quarter last year. On average, sell-side analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed 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 yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms's dividend payout ratio is 7.63%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 9,195 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.84, for a total value of $5,589,088.80. Following the transaction, the chief financial officer owned 13,186 shares of the company's stock, valued at approximately $8,014,978.24. This represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, CTO Andrew Bosworth sold 7,847 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the sale, the chief technology officer owned 414 shares of the company's stock, valued at approximately $251,641.62. This represents a 94.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold 41,305 shares of company stock valued at $25,567,928 in the last 90 days. 13.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on META shares. Raymond James Financial raised Meta Platforms from an "underperform" rating to an "outperform" rating in a research report on Tuesday, June 2nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $1,015.00 price objective on shares of Meta Platforms in a research report on Thursday, May 28th. Roth Mkm reiterated a "buy" rating on shares of Meta Platforms in a research note on Thursday, April 30th. Arete Research set a $735.00 target price on Meta Platforms and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $725.00 target price (down from $825.00) on shares of Meta Platforms in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus 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.

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