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Mark Zuckerberg, CEO and Chairman of Meta Platforms Inc. (NASDAQ:META), recently sold a significant portion of his company's stock. According to a filing with the Securities and Exchange Commission, Zuckerberg disposed of 10,467 shares of Class A Common Stock on December 6, 2024. The sale comes as Meta trades near its 52-week high of $629.79, with the stock delivering an impressive 85% return over the past year. InvestingPro analysis indicates the company maintains a GREAT financial health score. The transaction, executed by the Chan Zuckerberg Initiative Foundation under a pre-arranged trading plan, amounted to approximately $8.07 million. The shares were sold at prices ranging from $610.295 to $629.3529 per share. Following these sales, Zuckerberg holds a substantial number of shares through various entities, maintaining his influential position within the company, which now commands a market capitalization of $1.55 trillion. For comprehensive insights into Meta's valuation and 15 additional key ProTips, visit InvestingPro.
In other recent news, Amazon (NASDAQ:AMZN) continues to perform strongly, with Truist Securities maintaining a Buy rating on the company. The firm's analysis suggests that Amazon could capture around 49% of U.S. e-commerce market share. The company's U.S. revenue is tracking at or slightly above the current consensus estimate of $114.5 billion for the fourth quarter of 2024. The consensus for Amazon's consolidated revenues stands at $187.3 billion.
Meta Platforms, previously known as Facebook, announced a quarterly dividend of $0.50 per share, reaffirming its commitment to shareholder returns. The tech giant is also planning to construct a fiber-optic subsea cable encircling the globe, an initiative expected to surpass $10 billion in investment. Raymond (NS:RYMD) James reaffirmed its Strong Buy rating on Meta shares, citing the company's potential for growth in artificial intelligence.
Piper Sandler analysts revealed a strong outlook for IT spending following the 2025 CIO Survey. The survey results indicate a dynamic year ahead for tech companies, with a shift towards Generative AI and increased cloud spending. Companies like Microsoft (NASDAQ:MSFT), Snowflake (NYSE:SNOW), and Salesforce (NYSE:CRM) are expected to benefit from this increased IT spending.
These recent developments highlight the robust demand for tech solutions and the dynamic nature of the tech sector. Analysts' expectations and company announcements suggest continued growth and positive performance for both Amazon and Meta Platforms.
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