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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
In recent developments, Meta Platforms, Inc. has announced plans for company-wide layoffs affecting 5% of its global workforce while simultaneously expediting the hiring of machine learning engineers. The company is merging its Messenger and Facebook teams into a single entity, with leadership changes in its generative AI group. Meta is also considering relocating its incorporation from Delaware to another state, such as Texas. In terms of investment, Meta is set to reach a $100 billion investment in virtual and augmented reality by the end of this year, with CEO Mark Zuckerberg highlighting 2025 as a pivotal year for its smart glasses. Notably, Meta sold over 1 million Ray-Ban smart glasses in 2024. Additionally, the company’s price target was recently raised from $686 to $775 by Argus.
More about Meta Platforms, Inc.
YTD Price Performance: 20.12%
Average Trading Volume: 13,690,284
Current Market Cap: $1817.8B