Fideuram Intesa Sanpaolo Private Banking S.P.A. Has $25.93 Million Holdings in Meta Platforms, Inc. $META

Key Points

• Fideuram Intesa Sanpaolo Private Banking increased its Meta stake by 33.1% in the first quarter, ending with 45,314 shares worth about $25.9 million. Meta now ranks as the fund’s 22nd largest holding.
• Meta posted strong quarterly results, with EPS of $10.44 beating estimates by $3.77 and revenue of $56.31 billion topping expectations. Revenue also rose 33.1% year over year, and analysts expect $29.46 EPS for the full fiscal year.
• Wall Street remains broadly bullish on Meta, with a consensus rating of “Moderate Buy” and an average price target of $840.64. Recent reports also noted insider sales, including transactions by the COO and CFO under pre-arranged trading plans.

Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 33.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,314 shares of the social networking company's stock after acquiring an additional 11,258 shares during the period. Meta Platforms makes up 0.9% of Fideuram Intesa Sanpaolo Private Banking S.P.A.'s portfolio, making the stock its 22nd largest holding. Fideuram Intesa Sanpaolo Private Banking S.P.A.'s holdings in Meta Platforms were worth $25,925,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. RHL Group LLC acquired a new stake in Meta Platforms in the 4th quarter worth $28,000. Strategic Wealth Advisors LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $29,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $42,000. Bayban lifted its stake in shares of Meta Platforms by 100.0% in the first quarter. Bayban now owns 70 shares of the social networking company's stock valued at $40,000 after buying an additional 35 shares during the period. Finally, Key Capital Management INC acquired a new stake in Meta Platforms during the fourth quarter worth about $48,000. Institutional investors own 79.91% of the company's stock.

Insider Activity

In other news, 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 directly owned 10,557 shares of the company's stock, valued at $6,645,103.65. The trade was a 20.83% decrease in their position. The sale 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, CFO Susan J. Li sold 9,195 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer owned 13,186 shares in the company, valued at approximately $8,014,978.24. This trade represents a 41.08% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 39,513 shares of company stock valued at $24,419,874. Company insiders own 13.53% of the company's stock.

Wall Street Analyst Weigh In

META has been the topic of several research reports. TD Cowen lowered their price target on Meta Platforms from $820.00 to $800.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Piper Sandler initiated coverage on Meta Platforms in a report on Tuesday, June 2nd. They set an "overweight" rating on the stock. Guggenheim lowered their price objective on Meta Platforms from $850.00 to $800.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. Citizens Jmp restated a "market outperform" rating and issued a $900.00 target price on shares of Meta Platforms in a research note on Tuesday, April 21st. Finally, Raymond James Financial raised Meta Platforms from an "underperform" rating to an "outperform" rating in a research report on Tuesday, June 2nd. Three 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $840.64.

Meta Platforms Trading Up 2.5%

Shares of META opened at $615.58 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 stock has a market cap of $1.56 trillion, a PE ratio of 22.38, a PEG ratio of 1.06 and a beta of 1.25. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25. The stock has a 50 day simple moving average of $600.41 and a 200-day simple moving average of $627.42.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly 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. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. During the same quarter in the previous year, the firm earned $6.43 EPS. Meta Platforms's quarterly revenue was up 33.1% on a year-over-year basis. On average, sell-side analysts predict that Meta Platforms, Inc. will post 29.46 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 15th. Meta Platforms's dividend payout ratio (DPR) is currently 7.63%.

More Meta Platforms News

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

• Positive Sentiment: Meta launched Muse Image, a new AI image-generation tool inside Meta AI for consumers and businesses. The rollout could help increase engagement across Instagram, WhatsApp and other apps, while giving advertisers and creators a new reason to use Meta’s ecosystem. Meta expands generative AI tools with Muse Image rollout
• Positive Sentiment: Erste Group Bank upgraded Meta from hold to buy, adding to bullish sentiment around the stock. Meta Platforms NASDAQ: META Raised to "Buy" at Erste Group Bank
• Positive Sentiment: Truist Securities also reiterated a Buy view and an $840 price target, reinforcing the case that Wall Street still sees meaningful upside in META.

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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