Walter Public Investments Inc. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 45.0% in the fourth quarter, HoldingsChannel reports. The firm owned 17,570 shares of the social networking company’s stock after selling 14,367 shares during the quarter. Meta Platforms accounts for 2.1% of Walter Public Investments Inc.’s portfolio, making the stock its 22nd biggest position. Walter Public Investments Inc.’s holdings in Meta Platforms were worth $11,598,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of META. Brighton Jones LLC lifted its holdings in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after purchasing an additional 875 shares during the period. Headwater Capital Co Ltd lifted its holdings in shares of Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after purchasing an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in shares of Meta Platforms during the second quarter worth about $213,000. Finally, Capital & Planning LLC acquired a new stake in shares of Meta Platforms during the second quarter worth about $322,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Truist Financial decreased their target price on Meta Platforms from $900.00 to $840.00 and set a “buy” rating for the company in a report on Thursday, April 30th. TD Cowen decreased their price target on Meta Platforms from $820.00 to $800.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Sanford C. Bernstein decreased their price target on Meta Platforms from $900.00 to $850.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. KeyCorp reissued an “overweight” rating and issued a $760.00 price target on shares of Meta Platforms in a report on Thursday, April 30th. Finally, Piper Sandler started coverage on Meta Platforms in a report on Tuesday, June 2nd. They issued an “overweight” rating for the company. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $840.60.
Insiders Place Their Bets
In related news, CTO Andrew Bosworth sold 7,847 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the sale, the chief technology officer directly owned 414 shares in the company, valued at approximately $251,641.62. The trade was a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, insider Curtis J. Mahoney sold 2,079 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total value of $1,268,023.68. Following the sale, the insider owned 1,118 shares of the company’s stock, valued at $681,890.56. The trade was a 65.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 41,305 shares of company stock valued at $25,567,928. Corporate insiders own 13.53% of the company’s stock.
Key Headlines Impacting Meta Platforms
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta announced a partnership with Associated Builders and Contractors to launch a $115 million workforce academy that will train construction technicians for its data center projects, helping address labor shortages and supporting its AI infrastructure expansion. Article Title
- Positive Sentiment: Italy’s competition regulator dropped its investigation into Meta’s WhatsApp AI bot, removing a legal overhang tied to how the company integrates AI into WhatsApp. Article Title
- Positive Sentiment: Meta also partnered with Best Buy to create “Meta Lab” experiential spaces where shoppers can test VR headsets and AI glasses, which could help boost hardware awareness and adoption. Article Title
Meta Platforms Trading Down 1.3%
Shares of META stock opened at $585.39 on Tuesday. 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 company has a market cap of $1.48 trillion, a price-to-earnings ratio of 21.28, a PEG ratio of 1.05 and a beta of 1.23. The stock has a 50 day simple moving average of $619.59 and a 200-day simple moving average of $636.72. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion during 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 business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the company posted $6.43 EPS. On average, equities research analysts expect that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s dividend payout ratio is presently 7.63%.
About Meta Platforms
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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