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Diamond Hill Capital Management Inc, managed by Ric Dillon, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 1,470 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. is undergoing significant organizational restructuring, including laying off 5% of its global workforce while accelerating the hiring of machine learning engineers. The company is merging its Messenger and Facebook teams and considering relocating its incorporation to Texas to benefit from a more favorable business environment. Financially, Meta is heavily investing in virtual and augmented reality, with total investments expected to reach $100 billion by year-end. The company has already sold over 1 million Ray-Ban smart glasses in 2024, with 2025 anticipated as pivotal for further smart glasses development. Reflecting these strategic changes, Argus has raised Meta’s stock price target from $686 to $775. Meta’s stock has shown a year-to-date price performance of approximately 22.93%, with an average trading volume of 13.7 million shares and a market cap of around $1.846 trillion.
More about Meta Platforms, Inc.
YTD Price Performance: 22.93%
Average Trading Volume: 13,722,994
Current Market Cap: $1866.6B
