Washington Trust Bank Has $16.19 Million Holdings in Meta Platforms, Inc. $META

Key Points

• Washington Trust Bank increased its Meta Platforms stake by 4.8% in the fourth quarter, bringing its holdings to 24,533 shares valued at about $16.19 million.
• Several large institutional investors also added to Meta positions, and institutions now own 79.91% of the company’s stock, underscoring continued broad Wall Street interest.
• Meta continues to face a mix of opportunities and risks: analysts remain optimistic about its AI spending and growth prospects, while legal and regulatory issues, including a Texas lawsuit and recent insider selling, keep pressure on the stock.

Washington Trust Bank boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,533 shares of the social networking company's stock after buying an additional 1,127 shares during the quarter. Meta Platforms makes up approximately 1.1% of Washington Trust Bank's investment portfolio, making the stock its 24th largest position. Washington Trust Bank's holdings in Meta Platforms were worth $16,194,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Meta Platforms by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company's stock worth $132,015,115,000 after buying an additional 7,269,279 shares during the last quarter. State Street Corp increased its position in Meta Platforms by 1.9% during the second quarter. State Street Corp now owns 86,925,674 shares of the social networking company's stock worth $64,158,971,000 after buying an additional 1,650,435 shares during the last quarter. Capital World Investors grew its position in shares of Meta Platforms by 0.7% in the third quarter. Capital World Investors now owns 39,247,690 shares of the social networking company's stock valued at $28,823,375,000 after purchasing an additional 278,180 shares during the last quarter. Invesco Ltd. grew its position in shares of Meta Platforms by 0.8% in the third quarter. Invesco Ltd. now owns 17,153,754 shares of the social networking company's stock valued at $12,597,374,000 after purchasing an additional 142,229 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Meta Platforms by 4.1% in the third quarter. Legal & General Group Plc now owns 14,332,168 shares of the social networking company's stock valued at $10,525,258,000 after purchasing an additional 558,792 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Trending Headlines about Meta Platforms

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

• Positive Sentiment: Meta settled the first U.S. school-district case tied to youth mental health and social media addiction, reducing the risk of an immediate trial and showing some willingness to resolve major litigation. Reuters: Meta settles first US case over school costs tied to youth mental health
• Positive Sentiment: Analysts continue to argue that Meta’s heavy AI investment could support future growth and profitability, with one bullish note calling the stock undervalued relative to its AI opportunity. Seeking Alpha: Meta Platforms: A Call Option On The AI Race
• Neutral Sentiment: Zuckerberg said he does not expect more companywide layoffs this year, but the cuts themselves and the reassignment of workers into AI roles suggest a continued restructuring rather than a clear earnings boost. Reuters: Meta CEO tells employees he does not expect more company-wide layoffs this year
• Negative Sentiment: Texas sued Meta and WhatsApp over alleged privacy and encryption misrepresentations, increasing regulatory and legal risk for META. Reuters: Texas sues Meta, WhatsApp over encryption privacy claims
• Negative Sentiment: Investor focus remains on Meta’s large AI capex and the limited financial impact of layoffs, keeping pressure on the stock as markets question whether spending will translate into stronger returns soon. MarketBeat: Meta Platforms 10% Layoff Raises a Bigger Question About AI Spending

Analyst Upgrades and Downgrades

Several research firms have recently commented on META. Erste Group Bank downgraded Meta Platforms from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Raymond James Financial decreased their target price on Meta Platforms from $825.00 to $800.00 and set a "strong-buy" rating on the stock in a research report on Monday, January 26th. DA Davidson boosted their target price on shares of Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. Cantor Fitzgerald decreased their price target on shares of Meta Platforms from $850.00 to $750.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Finally, Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $808.00 to $890.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $840.19.

Insider Buying and Selling

In related news, COO Javier Olivan sold 837 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $609.35, for a total transaction of $510,025.95. Following the sale, the chief operating officer owned 14,660 shares of the company's stock, valued at $8,933,071. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the sale, the chief technology officer directly owned 414 shares in the company, valued at $251,641.62. This represents a 94.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 152,728 shares of company stock valued at $96,925,217 over the last 90 days. 13.53% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 0.4%

Shares of NASDAQ:META opened at $607.38 on Friday. The company has a market capitalization of $1.54 trillion, a P/E ratio of 22.08, a P/E/G ratio of 1.07 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 company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The business's 50 day simple moving average is $618.57 and its 200 day simple moving average is $637.18.

Meta Platforms (NASDAQ:META - Get Free Report) 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. The business had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm's quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.43 earnings per share. On average, research analysts anticipate that Meta Platforms, Inc. will post 29.49 EPS for the current fiscal year.

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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